SSI Investment Management LLC Invests $200,000 in Deere & Company (NYSE:DE)

SSI Investment Management LLC bought a new position in shares of Deere & Company (NYSE:DE) during the third quarter, Holdings Channel reports. The fund bought 480 shares of the industrial products company’s stock, valued at approximately $200,000.

Other hedge funds have also modified their holdings of the company. Cypress Capital Group grew its position in Deere & Company by 36.2% during the third quarter. Cypress Capital Group now owns 2,666 shares of the industrial products company’s stock valued at $1,113,000 after purchasing an additional 708 shares in the last quarter. King Luther Capital Management Corp lifted its stake in Deere & Company by 11.9% in the third quarter. King Luther Capital Management Corp now owns 3,032 shares of the industrial products company’s stock valued at $1,265,000 after acquiring an additional 322 shares during the last quarter. Cornerstone Advisors LLC lifted its stake in Deere & Company by 2.4% in the third quarter. Cornerstone Advisors LLC now owns 21,300 shares of the industrial products company’s stock valued at $8,889,000 after acquiring an additional 500 shares during the last quarter. Moors & Cabot Inc. grew its position in Deere & Company by 0.7% in the third quarter. Moors & Cabot Inc. now owns 16,515 shares of the industrial products company’s stock worth $6,892,000 after acquiring an additional 109 shares in the last quarter. Finally, EagleClaw Capital Managment LLC increased its stake in shares of Deere & Company by 3.0% during the 3rd quarter. EagleClaw Capital Managment LLC now owns 1,725 shares of the industrial products company’s stock worth $720,000 after purchasing an additional 50 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Up 1.3 %

Shares of DE stock opened at $405.11 on Thursday. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The company has a market capitalization of $110.84 billion, a price-to-earnings ratio of 13.82, a P/E/G ratio of 1.54 and a beta of 0.93. Deere & Company has a 12-month low of $340.20 and a 12-month high of $420.47. The firm has a fifty day moving average of $404.97 and a 200-day moving average of $385.83.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were paid a dividend of $1.47 per share. The ex-dividend date was Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.45%. Deere & Company’s dividend payout ratio is 20.06%.

Analyst Ratings Changes

Several research firms have weighed in on DE. Evercore ISI raised their target price on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a report on Monday, August 19th. Morgan Stanley cut their price target on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Bank of America lifted their target price on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Citigroup boosted their price target on shares of Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Finally, Truist Financial increased their target price on Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $420.69.

Deere & 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.