HBK Sorce Advisory LLC Makes New Investment in Deere & Company $DE

by · The Markets Daily

HBK Sorce Advisory LLC purchased a new position in shares of Deere & Company (NYSE:DE – Free Report) during the 2nd quarter, HoldingsChannel reports. The firm purchased 5,336 shares of the industrial products company’s stock, valued at approximately $3,266,000.

A number of other hedge funds also recently bought and sold shares of DE. Cary Street Partners Financial LLC raised its stake in Deere & Company by 11.8% during the 4th quarter. Cary Street Partners Financial LLC now owns 10,312 shares of the industrial products company’s stock worth $4,801,000 after acquiring an additional 1,086 shares in the last quarter. Spectrum Financial Alliance Ltd LLC lifted its position in Deere & Company by 55.8% in the fourth quarter. Spectrum Financial Alliance Ltd LLC now owns 85,351 shares of the industrial products company’s stock valued at $39,737,000 after acquiring an additional 30,553 shares during the last quarter. Westpac Banking Corp boosted its stake in Deere & Company by 78.6% in the fourth quarter. Westpac Banking Corp now owns 6,925 shares of the industrial products company’s stock valued at $3,224,000 after acquiring an additional 3,047 shares in the last quarter. Natixis Advisors LLC boosted its stake in Deere & Company by 13.4% in the fourth quarter. Natixis Advisors LLC now owns 388,595 shares of the industrial products company’s stock valued at $180,919,000 after acquiring an additional 45,782 shares in the last quarter. Finally, Vise Technologies Inc. grew its holdings in shares of Deere & Company by 46.1% during the fourth quarter. Vise Technologies Inc. now owns 6,265 shares of the industrial products company’s stock worth $2,917,000 after purchasing an additional 1,977 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Bank of America cut their target price on Deere & Company from $672.00 to $607.50 and set a “neutral” rating on the stock in a research report on Friday, May 22nd. Truist Financial upped their target price on Deere & Company from $759.00 to $812.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Weiss Ratings upgraded Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Seaport Research Partners set a $570.00 price target on Deere & Company in a research report on Friday. Finally, Oppenheimer reiterated an “outperform” rating and issued a $680.00 price objective (down from $715.00) on shares of Deere & Company in a research note on Wednesday, May 27th. Fourteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, Deere & Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $641.98.

Get Our Latest Stock Report on Deere & Company

Deere & Company Trading Down 0.0%

NYSE DE opened at $608.73 on Monday. The firm’s fifty day moving average is $603.23 and its two-hundred day moving average is $588.27. Deere & Company has a one year low of $433.00 and a one year high of $674.19. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.95 and a current ratio of 2.18. The firm has a market cap of $164.32 billion, a PE ratio of 34.49, a P/E/G ratio of 2.57 and a beta of 0.90.

Deere & Company (NYSE:DE – Get Free Report) last announced 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. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The business had revenue of $13.37 billion during the quarter, compared to the consensus estimate of $11.55 billion. During the same quarter in the prior year, the firm earned $6.64 earnings per share. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. Analysts expect that Deere & Company will post 18.26 earnings per share for the current year.

Deere & Company Dividend Announcement

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

Deere & Company Profile

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding DE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Deere & Company (NYSE:DE – Free Report).