Astonishingly, Pacer Advisors Inc. increased its stake in Deere & Company by 102.8%. This is according to the company’s latest 13F filing with the Securities and Exchange Commission. According to their filings, the institutional investor said he owns 1,150 shares in the industrial products company after buying another 583 shares in the previous quarter, significantly increasing his stake in Deere & Company.
The news comes amid Deere & Company’s impressive performance following its previous quarterly earnings report on February 17 of this year. The company reported EPS of $6.55 for the quarter, $1.02 above analyst consensus expectations of $5.53, and is sure to please investors.
Deere & Co is a global manufacturer and marketer of agricultural, construction, forestry and lawn care equipment through various segments such as Agriculture & Lawn, Construction & Forestry and Financial Services.
The Agriculture and Lawn segment focuses on the distribution and testing of various agricultural and lawn equipment along with related service parts for proper functioning.
The Construction & Forestry sector, on the other hand, encompasses the development of advanced machinery for commercial building and public works excavation, as well as large-scale timber cutting operations.
Finally, the financial services sector is involved in the provision of financial services for the sale of agricultural machinery and has access to leasing agreements, as well as financing programs aimed at arming dealers with credit lines as needed. will do so. As a separate division within Deere & Co, primarily assisting with sorting financial matters as needed.
Deere is expected to experience significant growth in the years that follow, with 2021 EPS numbers projected to match or exceed Q4 2020 results, and research analysis shows Deere & Company We expect EPS to be 30.59 this year, driven by the strong numbers released last year. Quarterly earnings report.
In conclusion, Deere & Company maintains a firm commitment to manufacturing and providing quality equipment for the agriculture, construction, forestry and turf management industries. Recent positive EPS results have led investors such as Pacer Advisors Inc. in particular to significantly increase their stake in the company, demonstrating a growth opportunity that all industry players expect to see moving forward.
Large Investor Increases Stake in Deere & Co, Leading Equipment Manufacturer and Distributor
Deere & Co, a leading manufacturer and distributor of equipment used in agriculture, construction, forestry and lawn care, has recently seen several large investors increase their stake in the company. I came. TCI Wealth Advisors increased his stake by 1.5% in the third quarter and now owns 1,694 shares of him worth $566,000. Lion Street Advisors increased its stock by 2% in the fourth quarter and Mayflower Financial Advisors LLC increased its holding by 2.6%. Sterling Investment Counsel increased its shareholding by 3.3% over the same period, and IAM Advisory also increased its shareholding by 2.6%, with all investors purchasing an additional 27 of his shares from his 25.
Deere & Co shares opened Friday at $373.59, giving the company a market cap of $110.7 billion. The company has a quick ratio of 1.76, a current ratio of 2.07 and a debt to equity ratio of 1.64.
The Agriculture and Turf segment is one of Deere & Co’s three major business segments and focuses on distribution and manufacturing services for agricultural and turf equipment and service parts. Shareholders meeting in early May this year.
Many research analysts are generally positive about Deere & Co’s performance in recent months. Seven analysts rated it as a hold, 14 gave it a buy rating, and most consensus ratings were “moderate buy.”