Miracle Mile Advisors LLC Has $6.15 Million Stake in Deere & Company (NYSE:DE)

Miracle Mile Advisors LLC raised its position in Deere & Company (NYSE:DE) by 252.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 14,503 shares of the industrial products company’s stock after purchasing an additional 10,391 shares during the period. Miracle Mile Advisors LLC’s holdings in Deere & Company were worth $6,145,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. American Century Companies Inc. boosted its stake in Deere & Company by 9.7% during the 2nd quarter. American Century Companies Inc. now owns 250,298 shares of the industrial products company’s stock valued at $93,519,000 after purchasing an additional 22,160 shares during the last quarter. Federated Hermes Inc. lifted its holdings in shares of Deere & Company by 2.1% during the 2nd quarter. Federated Hermes Inc. now owns 15,896 shares of the industrial products company’s stock worth $5,939,000 after acquiring an additional 332 shares during the last quarter. Thoroughbred Financial Services LLC increased its stake in Deere & Company by 51.6% in the second quarter. Thoroughbred Financial Services LLC now owns 2,720 shares of the industrial products company’s stock valued at $1,016,000 after acquiring an additional 926 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its stake in Deere & Company by 20.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock worth $5,906,000 after purchasing an additional 2,692 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Deere & Company by 12.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 303,541 shares of the industrial products company’s stock worth $113,412,000 after purchasing an additional 34,262 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Up 5.3 %

Shares of NYSE:DE traded up $21.60 during trading on Monday, reaching $430.17. The stock had a trading volume of 1,988,360 shares, compared to its average volume of 1,245,684. The firm’s 50-day simple moving average is $427.99 and its 200 day simple moving average is $400.08. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89. Deere & Company has a one year low of $340.20 and a one year high of $469.39. The company has a market capitalization of $117.69 billion, a P/E ratio of 16.80, a PEG ratio of 1.88 and a beta of 0.96.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, topping analysts’ consensus estimates of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The business had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. During the same quarter in the previous year, the firm earned $8.26 earnings per share. The company’s revenue was down 32.8% on a year-over-year basis. As a group, research analysts expect that Deere & Company will post 19.41 EPS for the current fiscal year.

Deere & Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be issued a $1.62 dividend. The ex-dividend date is Tuesday, December 31st. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 dividend on an annualized basis and a yield of 1.51%. Deere & Company’s payout ratio is presently 22.97%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DE. Barclays raised their price objective on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. UBS Group raised their target price on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Morgan Stanley raised their price objective on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Truist Financial lifted their price objective on Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, Jefferies Financial Group cut shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a research note on Friday, December 6th. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $443.94.

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.