Opal Capital LLC Purchases Shares of 1,503 Deere & Company $DE

by · The Markets Daily

Opal Capital LLC purchased a new stake in shares of Deere & Company (NYSE:DE – Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,503 shares of the industrial products company’s stock, valued at approximately $700,000.

Several other hedge funds have also added to or reduced their stakes in DE. Norges Bank acquired a new stake in Deere & Company during the 4th quarter valued at $1,715,633,000. Capital World Investors lifted its holdings in Deere & Company by 53.9% during the 4th quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company’s stock valued at $4,465,906,000 after purchasing an additional 3,358,264 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Deere & Company by 1,725.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,003,715 shares of the industrial products company’s stock valued at $932,870,000 after purchasing an additional 1,893,972 shares during the last quarter. M&T Bank Corp lifted its holdings in Deere & Company by 1,199.8% during the 4th quarter. M&T Bank Corp now owns 1,864,701 shares of the industrial products company’s stock valued at $868,149,000 after purchasing an additional 1,721,239 shares during the last quarter. Finally, Van ECK Associates Corp lifted its holdings in Deere & Company by 278.0% during the 3rd quarter. Van ECK Associates Corp now owns 487,697 shares of the industrial products company’s stock valued at $223,005,000 after purchasing an additional 358,687 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Up 1.9%

DE opened at $586.43 on Wednesday. Deere & Company has a fifty-two week low of $433.00 and a fifty-two week 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 company has a market capitalization of $158.30 billion, a P/E ratio of 33.23, a P/E/G ratio of 2.13 and a beta of 0.92. The stock has a fifty day moving average of $573.50 and a 200-day moving average of $550.68.

Deere & Company (NYSE:DE – Get Free Report) 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 return on equity of 18.25% and a net margin of 10.09%.The company had revenue of $13.37 billion during the quarter, compared to the consensus estimate of $11.55 billion. During the same quarter last year, the firm earned $6.64 earnings per share. The company’s revenue was up 5.4% on a year-over-year basis. On average, equities analysts expect that Deere & Company will post 18.13 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Tuesday, June 30th will be paid a $1.62 dividend. 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 36.71%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Morgan Stanley raised their price target on Deere & Company from $560.00 to $730.00 and gave the company an “overweight” rating in a report on Monday, February 23rd. Barclays lifted their target price on Deere & Company from $530.00 to $640.00 and gave the stock an “overweight” rating in a report on Tuesday, March 31st. Weiss Ratings raised Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Citigroup dropped their target price on Deere & Company from $625.00 to $595.00 and set a “neutral” rating for the company in a report on Friday, May 22nd. Finally, Truist Financial dropped their target price on Deere & Company from $793.00 to $759.00 and set a “buy” rating for the company in a report on Tuesday, May 26th. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $639.58.

View Our Latest Research Report on DE

About Deere & Company

(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.

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