Sargent Investment Group LLC Makes New $446,000 Investment in Deere & Company $DE

Sargent Investment Group LLC bought a new position in shares of Deere & Company (NYSE:DE) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 957 shares of the industrial products company’s stock, valued at approximately $446,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. South Plains Financial Inc. lifted its stake in Deere & Company by 7.5% during the fourth quarter. South Plains Financial Inc. now owns 1,951 shares of the industrial products company’s stock worth $908,000 after purchasing an additional 136 shares during the last quarter. MML Investors Services LLC lifted its stake in Deere & Company by 25.5% during the fourth quarter. MML Investors Services LLC now owns 63,276 shares of the industrial products company’s stock worth $29,459,000 after purchasing an additional 12,846 shares during the last quarter. Mariner LLC lifted its stake in Deere & Company by 1.3% during the fourth quarter. Mariner LLC now owns 142,813 shares of the industrial products company’s stock worth $66,490,000 after purchasing an additional 1,790 shares during the last quarter. Focus Partners Wealth lifted its stake in Deere & Company by 592.9% during the fourth quarter. Focus Partners Wealth now owns 189,558 shares of the industrial products company’s stock worth $88,254,000 after purchasing an additional 162,201 shares during the last quarter. Finally, Fort Point Capital Partners LLC bought a new stake in Deere & Company during the fourth quarter worth $245,000. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Trading Down 0.3%

Shares of Deere & Company stock opened at $575.87 on Tuesday. The firm has a market capitalization of $155.45 billion, a PE ratio of 32.63, a price-to-earnings-growth ratio of 2.14 and a beta of 0.92. The company has a current ratio of 2.18, a quick ratio of 1.95 and a debt-to-equity ratio of 1.54. The firm’s 50 day moving average is $573.28 and its 200 day moving average is $549.86. Deere & Company has a 1 year low of $433.00 and a 1 year high of $674.19.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, May 21st. The industrial products company reported $6.55 earnings per share for the quarter, topping analysts’ consensus estimates of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The firm had revenue of $13.37 billion for the quarter, compared to analyst estimates of $11.55 billion. During the same period in the previous year, the firm posted $6.64 EPS. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. Equities research analysts forecast that Deere & Company will post 18.13 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DE. Raymond James Financial decreased their price target on shares of Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a report on Friday, May 22nd. Barclays lifted their price target on shares of Deere & Company from $530.00 to $640.00 and gave the company an “overweight” rating in a report on Tuesday, March 31st. Morgan Stanley lifted their price target on shares of Deere & Company from $560.00 to $730.00 and gave the company an “overweight” rating in a report on Monday, February 23rd. BMO Capital Markets lifted their price target on shares of Deere & Company from $460.00 to $500.00 and gave the company a “market perform” rating in a report on Friday, February 20th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $752.00 price target on shares of Deere & Company in a report on Monday, June 1st. Fourteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $639.58.

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.