IMA Advisory Services Inc. Grows Position in Deere & Company $DE

IMA Advisory Services Inc. grew its position in Deere & Company (NYSE:DE) by 618.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,614 shares of the industrial products company’s stock after acquiring an additional 2,250 shares during the quarter. IMA Advisory Services Inc.’s holdings in Deere & Company were worth $1,221,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Strategic Advocates LLC purchased a new position in shares of Deere & Company in the third quarter valued at $25,000. Key Capital Management INC bought a new position in Deere & Company during the fourth quarter valued at $27,000. McIlrath & Eck LLC purchased a new position in shares of Deere & Company in the 4th quarter worth $30,000. Wealth Watch Advisors INC purchased a new position in shares of Deere & Company in the 3rd quarter worth $32,000. Finally, Tucker Asset Management LLC bought a new stake in shares of Deere & Company in the 4th quarter worth about $34,000. 68.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on DE shares. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $752.00 price target on shares of Deere & Company in a report on Monday, June 1st. Weiss Ratings upgraded Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Argus lifted their target price on Deere & Company from $540.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, March 3rd. Truist Financial cut their target price on Deere & Company from $793.00 to $759.00 and set a “buy” rating on the stock in a research report on Tuesday, May 26th. Finally, Citigroup decreased their price target on Deere & Company from $625.00 to $595.00 and set a “neutral” rating on the stock in a report on Friday, May 22nd. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $639.58.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $583.80 on Monday. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. The stock’s fifty day moving average is $572.86 and its two-hundred day moving average is $546.09. Deere & Company has a 52 week low of $433.00 and a 52 week high of $674.19. The company has a market capitalization of $157.59 billion, a PE ratio of 33.08, a price-to-earnings-growth ratio of 2.16 and a beta of 0.92.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, topping the consensus estimate of $5.70 by $0.85. The business had revenue of $13.37 billion during the quarter, compared to the consensus estimate of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the company earned $6.64 earnings per share. As a group, analysts expect that Deere & Company will post 18.08 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, June 30th. Deere & Company’s payout ratio is 36.71%.

Deere & Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.