Opinicus Capital Inc. Has $1.69 Million Stock Position in Deere & Company (NYSE:DE)

Opinicus Capital Inc. trimmed its holdings in shares of Deere & Company (NYSE:DE) by 2.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,593 shares of the industrial products company’s stock after selling 89 shares during the period. Deere & Company makes up 1.5% of Opinicus Capital Inc.’s investment portfolio, making the stock its 19th largest holding. Opinicus Capital Inc.’s holdings in Deere & Company were worth $1,687,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of DE. Valeo Financial Advisors LLC grew its holdings in Deere & Company by 0.3% in the 4th quarter. Valeo Financial Advisors LLC now owns 8,019 shares of the industrial products company’s stock worth $3,398,000 after acquiring an additional 24 shares during the last quarter. Coppell Advisory Solutions LLC grew its position in shares of Deere & Company by 2.5% in the 4th quarter. Coppell Advisory Solutions LLC now owns 1,011 shares of the industrial products company’s stock worth $432,000 after buying an additional 25 shares during the last quarter. Glen Eagle Advisors LLC increased its stake in shares of Deere & Company by 0.9% during the fourth quarter. Glen Eagle Advisors LLC now owns 2,936 shares of the industrial products company’s stock valued at $1,244,000 after buying an additional 25 shares during the period. Marks Group Wealth Management Inc lifted its stake in Deere & Company by 0.8% in the fourth quarter. Marks Group Wealth Management Inc now owns 3,156 shares of the industrial products company’s stock worth $1,337,000 after acquiring an additional 26 shares during the period. Finally, Deseret Mutual Benefit Administrators lifted its stake in Deere & Company by 8.2% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 342 shares of the industrial products company’s stock worth $145,000 after acquiring an additional 26 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on DE shares. Melius Research upgraded shares of Deere & Company from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 6th. Raymond James upped their target price on Deere & Company from $530.00 to $560.00 and gave the stock an “outperform” rating in a report on Friday, May 16th. Robert W. Baird raised their target price on Deere & Company from $501.00 to $514.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. Truist Financial upped their price target on Deere & Company from $546.00 to $619.00 and gave the stock a “buy” rating in a research note on Friday, May 16th. Finally, Baird R W downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $515.19.

Deere & Company Trading Down 0.7%

Shares of NYSE DE opened at $517.01 on Friday. The firm’s 50 day moving average price is $485.29 and its 200-day moving average price is $468.18. Deere & Company has a 52-week low of $340.20 and a 52-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 cap of $140.02 billion, a PE ratio of 22.92, a P/E/G ratio of 2.14 and a beta of 1.09.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.72 by $0.92. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. The business had revenue of $11.17 billion for the quarter, compared to analysts’ expectations of $10.80 billion. During the same period in the prior year, the firm posted $8.53 EPS. The firm’s quarterly revenue was down 17.9% on a year-over-year basis. On average, equities research analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

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

Deere & Company Profile

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.