Northstar Advisory Group LLC Makes New $1.17 Million Investment in Deere & Company (NYSE:DE)

Northstar Advisory Group LLC acquired a new stake in shares of Deere & Company (NYSE:DE) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,502 shares of the industrial products company’s stock, valued at approximately $1,174,000.

Other hedge funds have also recently modified their holdings of the company. Compass Financial Services Inc purchased a new stake in Deere & Company in the 4th quarter worth $254,000. Banque Pictet & Cie SA lifted its position in shares of Deere & Company by 2.0% in the fourth quarter. Banque Pictet & Cie SA now owns 78,274 shares of the industrial products company’s stock worth $33,165,000 after buying an additional 1,500 shares in the last quarter. Spectrum Financial Alliance Ltd LLC boosted its stake in Deere & Company by 2.9% during the fourth quarter. Spectrum Financial Alliance Ltd LLC now owns 49,613 shares of the industrial products company’s stock valued at $21,021,000 after buying an additional 1,407 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. purchased a new position in shares of Deere & Company in the fourth quarter valued at $847,000. Finally, BankPlus Trust Department purchased a new stake in Deere & Company during the fourth quarter valued at $1,127,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on DE shares. Melius raised shares of Deere & Company from a “hold” rating to a “buy” rating in a research note on Friday. BMO Capital Markets reaffirmed a “market perform” rating and issued a $460.00 price target (up previously from $425.00) on shares of Deere & Company in a report on Wednesday, May 21st. The Goldman Sachs Group reissued a “buy” rating on shares of Deere & Company in a research note on Thursday, May 15th. DA Davidson restated a “buy” rating and issued a $542.00 price target on shares of Deere & Company in a research report on Friday, May 16th. Finally, Melius Research raised shares of Deere & Company from a “hold” rating to a “strong-buy” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Deere & Company has a consensus rating of “Hold” and an average target price of $515.19.

Deere & Company Price Performance

Deere & Company stock opened at $519.62 on Monday. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. The stock has a market cap of $140.73 billion, a price-to-earnings ratio of 23.03, a price-to-earnings-growth ratio of 2.14 and a beta of 1.09. The firm has a 50-day moving average of $479.20 and a two-hundred day moving average of $466.58. Deere & Company has a 1 year low of $340.20 and a 1 year high of $533.78.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, topping the consensus estimate of $5.72 by $0.92. The company had revenue of $11.17 billion for the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. Deere & Company’s quarterly revenue was down 17.9% on a year-over-year basis. During the same period last year, the business posted $8.53 EPS. On average, research analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be given a $1.62 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.25%. Deere & Company’s payout ratio is presently 31.35%.

Deere & Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.