Resources Management Corp CT ADV Buys 1,539 Shares of Deere & Company $DE

Resources Management Corp CT ADV grew its stake in Deere & Company (NYSE:DE) by 109.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,949 shares of the industrial products company’s stock after acquiring an additional 1,539 shares during the period. Resources Management Corp CT ADV’s holdings in Deere & Company were worth $1,373,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of DE. Strategic Advocates LLC bought a new position in shares of Deere & Company in the 3rd quarter valued at about $25,000. Key Capital Management INC bought a new position in shares of Deere & Company in the 4th quarter valued at about $27,000. Timmons Wealth Management LLC bought a new position in shares of Deere & Company in the 4th quarter valued at about $29,000. McIlrath & Eck LLC bought a new position in shares of Deere & Company in the 4th quarter valued at about $30,000. Finally, Wealth Watch Advisors INC bought a new position in shares of Deere & Company in the 3rd quarter valued at about $32,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of NYSE DE opened at $577.05 on Monday. The business’s 50 day moving average price is $573.27 and its two-hundred day moving average price is $549.31. The company has a market cap of $155.77 billion, a PE ratio of 32.69, a price-to-earnings-growth ratio of 2.14 and a beta of 0.92. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, beating the consensus estimate of $5.70 by $0.85. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.The company had revenue of $13.37 billion for the quarter, compared to the consensus estimate of $11.55 billion. During the same quarter in the prior year, the business earned $6.64 earnings per share. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, analysts predict that Deere & Company will post 18.13 EPS for the current year.

Deere & Company Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on DE. Jefferies Financial Group upgraded Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 price target for the company in a report on Wednesday, April 8th. UBS Group boosted their price target on Deere & Company from $535.00 to $775.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Truist Financial lowered their price target 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. Morgan Stanley boosted their price target on Deere & Company from $560.00 to $730.00 and gave the stock an “overweight” rating in a research report on Monday, February 23rd. Finally, Argus boosted their price target on Deere & Company from $540.00 to $700.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Fourteen research 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, Deere & Company has an average rating of “Moderate Buy” and an average target price of $639.58.

About Deere & Company

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.