Northstar Advisory Group LLC Purchases Shares of 2,502 Deere & Company (NYSE:DE)

Northstar Advisory Group LLC purchased a new stake in shares of Deere & Company (NYSE:DE) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,502 shares of the industrial products company’s stock, valued at approximately $1,174,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of DE. Pineridge Advisors LLC lifted its stake in Deere & Company by 60.5% in the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 26 shares during the period. Orion Capital Management LLC bought a new stake in shares of Deere & Company during the 4th quarter valued at about $34,000. Mascagni Wealth Management Inc. purchased a new position in shares of Deere & Company during the fourth quarter valued at about $39,000. Dogwood Wealth Management LLC bought a new position in Deere & Company in the fourth quarter worth about $42,000. Finally, Wood Tarver Financial Group LLC purchased a new stake in Deere & Company in the fourth quarter worth about $43,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

NYSE DE opened at $519.62 on Monday. The business’s fifty day moving average is $479.20 and its 200 day moving average is $466.58. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $533.78. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. The company has a market capitalization of $140.73 billion, a PE ratio of 23.03, a price-to-earnings-growth ratio of 2.14 and a beta of 1.09.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, topping analysts’ consensus estimates of $5.72 by $0.92. The company had revenue of $11.17 billion for the quarter, compared to analysts’ expectations of $10.80 billion. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The firm’s revenue was down 17.9% compared to the same quarter last year. During the same quarter last year, the business earned $8.53 EPS. Sell-side analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.25%. The ex-dividend date is Monday, June 30th. Deere & Company’s dividend payout ratio is currently 31.35%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. The Goldman Sachs Group restated a “buy” rating on shares of Deere & Company in a report on Thursday, May 15th. Melius Research upgraded Deere & Company from a “hold” rating to a “strong-buy” rating in a research note on Friday. Morgan Stanley increased their target price on Deere & Company from $450.00 to $500.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 16th. Argus set a $510.00 price target on Deere & Company in a research report on Friday, March 7th. Finally, Bank of America increased their price target on shares of Deere & Company from $495.00 to $556.00 and gave the company a “neutral” rating in a report on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $515.19.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.