Pacer Advisors Inc. Acquires 3,409 Shares of Deere & Company (NYSE:DE)

Pacer Advisors Inc. grew its position in Deere & Company (NYSE:DE) by 19.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,176 shares of the industrial products company’s stock after buying an additional 3,409 shares during the quarter. Pacer Advisors Inc.’s holdings in Deere & Company were worth $8,468,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Morgan Stanley raised its position in shares of Deere & Company by 1.3% in the 3rd quarter. Morgan Stanley now owns 5,089,159 shares of the industrial products company’s stock valued at $1,920,548,000 after buying an additional 65,006 shares in the last quarter. FMR LLC raised its position in shares of Deere & Company by 6.6% in the 3rd quarter. FMR LLC now owns 4,374,282 shares of the industrial products company’s stock valued at $1,650,767,000 after buying an additional 269,571 shares in the last quarter. Moneta Group Investment Advisors LLC raised its position in shares of Deere & Company by 104,373.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,219,883 shares of the industrial products company’s stock valued at $1,380,557,000 after buying an additional 3,216,801 shares in the last quarter. Norges Bank acquired a new position in shares of Deere & Company in the 4th quarter valued at approximately $1,326,177,000. Finally, Northern Trust Corp raised its position in shares of Deere & Company by 2.5% in the 3rd quarter. Northern Trust Corp now owns 3,061,715 shares of the industrial products company’s stock valued at $1,155,430,000 after buying an additional 73,601 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DE has been the subject of a number of research analyst reports. Morgan Stanley initiated coverage on shares of Deere & Company in a research report on Monday, January 8th. They set an “overweight” rating and a $430.00 price objective for the company. Citigroup lowered their price objective on shares of Deere & Company from $450.00 to $435.00 and set a “buy” rating for the company in a research report on Friday, February 16th. Truist Financial initiated coverage on shares of Deere & Company in a research report on Thursday, March 14th. They set a “buy” rating and a $494.00 price objective for the company. Evercore ISI upped their price objective on shares of Deere & Company from $381.00 to $387.00 and gave the stock an “in-line” rating in a research report on Tuesday, February 20th. Finally, Melius Research reiterated a “hold” rating on shares of Deere & Company in a research report on Monday, January 8th. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $431.69.

Deere & Company Trading Up 2.7 %

NYSE:DE opened at $409.23 on Thursday. The firm’s fifty day moving average is $379.82 and its 200-day moving average is $381.32. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.81 and a current ratio of 2.05. Deere & Company has a 52 week low of $345.55 and a 52 week high of $450.00. The firm has a market cap of $113.91 billion, a P/E ratio of 11.92, a P/E/G ratio of 1.49 and a beta of 1.03.

Deere & Company (NYSE:DE) last posted its quarterly earnings data 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 net margin of 16.38% and a return on equity of 44.60%. The company had revenue of $10.49 billion for the quarter, compared to analyst estimates of $10.30 billion. During the same period in the prior year, the firm posted $6.55 EPS. The company’s quarterly revenue was down 8.0% on a year-over-year basis. Equities analysts expect that Deere & Company will post 27.41 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 1.44%. The ex-dividend date is Wednesday, March 27th. Deere & Company’s dividend payout ratio is presently 17.12%.

Deere & Company Company Profile

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.