Slow Capital Inc. Has $2.31 Million Stake in Deere & Company (NYSE:DE)

Slow Capital Inc. raised its holdings in Deere & Company (NYSE:DE) by 4.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,765 shares of the industrial products company’s stock after buying an additional 230 shares during the period. Slow Capital Inc.’s holdings in Deere & Company were worth $2,308,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Morgan Stanley increased its stake in Deere & Company by 1.3% in the 3rd quarter. Morgan Stanley now owns 5,089,159 shares of the industrial products company’s stock valued at $1,920,548,000 after buying an additional 65,006 shares during the last quarter. FMR LLC increased its stake in shares of Deere & Company by 6.6% during the 3rd quarter. FMR LLC now owns 4,374,282 shares of the industrial products company’s stock worth $1,650,767,000 after purchasing an additional 269,571 shares during the last quarter. Moneta Group Investment Advisors LLC increased its stake in shares of Deere & Company by 104,373.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,219,883 shares of the industrial products company’s stock worth $1,380,557,000 after purchasing an additional 3,216,801 shares during the last quarter. Norges Bank acquired a new position in shares of Deere & Company during the 4th quarter worth about $1,326,177,000. Finally, Northern Trust Corp increased its stake in shares of Deere & Company by 2.5% during the 3rd quarter. Northern Trust Corp now owns 3,061,715 shares of the industrial products company’s stock worth $1,155,430,000 after purchasing an additional 73,601 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Truist Financial assumed coverage on shares of Deere & Company in a research note on Thursday, March 14th. They set a “buy” rating and a $494.00 price objective on the stock. Melius downgraded shares of Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Citigroup reduced their target price on shares of Deere & Company from $450.00 to $435.00 and set a “buy” rating for the company in a report on Friday, February 16th. Melius Research reaffirmed a “hold” rating on shares of Deere & Company in a report on Monday, January 8th. Finally, Stifel Nicolaus reduced their target price on shares of Deere & Company from $435.00 to $425.00 and set a “buy” rating for the company in a report on Friday, February 16th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $433.28.

Deere & Company Stock Performance

NYSE DE traded down $0.79 during trading hours on Wednesday, reaching $393.01. 1,865,373 shares of the company were exchanged, compared to its average volume of 1,279,511. Deere & Company has a 1 year low of $345.55 and a 1 year high of $450.00. The business’s 50 day simple moving average is $384.95 and its 200-day simple moving average is $382.56. The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 1.81. The stock has a market capitalization of $109.40 billion, a P/E ratio of 11.44, a P/E/G ratio of 1.48 and a beta of 1.04.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, topping the consensus estimate of $5.19 by $1.04. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The firm had revenue of $10.49 billion during the quarter, compared to the consensus estimate of $10.30 billion. During the same quarter last year, the company earned $6.55 earnings per share. The company’s revenue was down 8.0% on a year-over-year basis. On average, equities research analysts expect that Deere & Company will post 27.41 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th will be issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend is Wednesday, March 27th. Deere & Company’s dividend payout ratio (DPR) is presently 17.12%.

Deere & Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.