Saxon Interests Inc. Invests $533,000 in Deere & Company (NYSE:DE)

Saxon Interests Inc. acquired a new position in Deere & Company (NYSE:DE) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 1,333 shares of the industrial products company’s stock, valued at approximately $533,000.

Other institutional investors have also recently bought and sold shares of the company. Retirement Group LLC raised its position in shares of Deere & Company by 264.7% during the 2nd quarter. Retirement Group LLC now owns 62 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 45 shares during the last quarter. Briaud Financial Planning Inc acquired a new position in shares of Deere & Company in the 3rd quarter valued at $25,000. ZRC Wealth Management LLC acquired a new position in shares of Deere & Company in the 4th quarter valued at $28,000. Worth Asset Management LLC acquired a new position in shares of Deere & Company in the 1st quarter valued at $28,000. Finally, Milestone Investment Advisors LLC acquired a new position in shares of Deere & Company in the 3rd quarter valued at $37,000. Institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on DE. Truist Financial initiated coverage on shares of Deere & Company in a research note on Thursday, March 14th. They issued a “buy” rating and a $494.00 target price for the company. Stifel Nicolaus cut their price objective on shares of Deere & Company from $435.00 to $425.00 and set a “buy” rating for the company in a research report on Friday, February 16th. Melius Research restated a “hold” rating on shares of Deere & Company in a research report on Monday, January 8th. Melius downgraded shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Finally, Evercore ISI boosted their target price on shares of Deere & Company from $381.00 to $387.00 and gave the stock an “in-line” rating in a research note on Tuesday, February 20th. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Deere & Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $431.69.

Deere & Company Stock Performance

Shares of DE stock traded up $1.60 during trading hours on Friday, hitting $410.74. 1,426,777 shares of the company were exchanged, compared to its average volume of 1,532,207. The company has a current ratio of 2.05, a quick ratio of 1.81 and a debt-to-equity ratio of 1.81. The stock has a market capitalization of $114.33 billion, a price-to-earnings ratio of 11.96, a P/E/G ratio of 1.54 and a beta of 1.03. The firm has a fifty day simple moving average of $380.44 and a 200 day simple moving average of $381.52. Deere & Company has a 52-week low of $345.55 and a 52-week high of $450.00.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, beating analysts’ consensus estimates of $5.19 by $1.04. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The firm had revenue of $10.49 billion for the quarter, compared to analysts’ expectations of $10.30 billion. During the same quarter in the prior year, the firm earned $6.55 EPS. The business’s revenue for the quarter was down 8.0% compared to the same quarter last year. Research analysts predict that Deere & Company will post 27.41 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be paid a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date is Wednesday, March 27th. Deere & Company’s payout ratio is currently 17.12%.

About Deere & Company

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.