Private Client Services LLC Buys Shares of 480 Deere & Company (NYSE:DE)

Private Client Services LLC purchased a new position in Deere & Company (NYSE:DE) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 480 shares of the industrial products company’s stock, valued at approximately $203,000.

A number of other large investors also recently modified their holdings of the business. Acadian Asset Management LLC lifted its position in Deere & Company by 324.4% in the second quarter. Acadian Asset Management LLC now owns 8,909 shares of the industrial products company’s stock worth $3,328,000 after purchasing an additional 6,810 shares during the period. LGT Group Foundation lifted its holdings in shares of Deere & Company by 230.2% in the second quarter. LGT Group Foundation now owns 928 shares of the industrial products company’s stock valued at $347,000 after buying an additional 647 shares during the period. LGT Fund Management Co Ltd. bought a new position in Deere & Company during the second quarter valued at about $584,000. Dorsey & Whitney Trust CO LLC boosted its stake in Deere & Company by 5.4% during the second quarter. Dorsey & Whitney Trust CO LLC now owns 3,581 shares of the industrial products company’s stock valued at $1,338,000 after buying an additional 183 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in Deere & Company by 8.1% during the second quarter. Daiwa Securities Group Inc. now owns 41,496 shares of the industrial products company’s stock worth $15,504,000 after acquiring an additional 3,103 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Trading Down 0.9 %

Deere & Company stock opened at $409.70 on Thursday. Deere & Company has a 12 month low of $340.20 and a 12 month high of $469.39. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. The stock has a market cap of $111.26 billion, a P/E ratio of 16.00, a P/E/G ratio of 1.91 and a beta of 0.98. The company’s fifty day simple moving average is $427.74 and its 200-day simple moving average is $399.42.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $9.20 billion. During the same period in the previous year, the company earned $8.26 EPS. The firm’s revenue was down 32.8% on a year-over-year basis. As a group, sell-side analysts forecast that Deere & Company will post 19.52 EPS for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $1.62 per share. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.58%. Deere & Company’s dividend payout ratio is 25.31%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group lowered shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective for the company. in a research report on Friday, December 6th. Citigroup raised their target price on shares of Deere & Company from $460.00 to $470.00 and gave the stock a “neutral” rating in a report on Monday, December 9th. Truist Financial upped their price target on Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. raised their price objective on Deere & Company from $420.00 to $450.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Finally, Morgan Stanley boosted their target price on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $443.94.

About Deere & Company

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.