Baker Tilly Wealth Management LLC Boosts Stock Holdings in Deere & Company (NYSE:DE)

Baker Tilly Wealth Management LLC raised its holdings in Deere & Company (NYSE:DE) by 9.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 635 shares of the industrial products company’s stock after purchasing an additional 55 shares during the quarter. Baker Tilly Wealth Management LLC’s holdings in Deere & Company were worth $269,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Fairscale Capital LLC acquired a new stake in shares of Deere & Company in the 2nd quarter worth approximately $26,000. Modus Advisors LLC acquired a new position in shares of Deere & Company during the 4th quarter worth $32,000. Livelsberger Financial Advisory purchased a new stake in shares of Deere & Company in the 3rd quarter worth about $32,000. Centennial Bank AR increased its holdings in Deere & Company by 420.0% during the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 84 shares in the last quarter. Finally, Continuum Advisory LLC raised its position in Deere & Company by 155.8% during the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 67 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of DE opened at $408.45 on Friday. The firm has a fifty day moving average of $427.99 and a 200-day moving average of $399.70. The company has a market cap of $110.92 billion, a price-to-earnings ratio of 15.96, a price-to-earnings-growth ratio of 1.91 and a beta of 0.98. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. Deere & Company has a 1 year low of $340.20 and a 1 year high of $469.39.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.89 by $0.66. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The firm 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 business posted $8.26 EPS. Deere & Company’s revenue was down 32.8% on a year-over-year basis. As a group, equities analysts anticipate that Deere & Company will post 19.52 earnings per share for the current year.

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be given a $1.62 dividend. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a yield of 1.59%. The ex-dividend date is Tuesday, December 31st. Deere & Company’s dividend payout ratio (DPR) is currently 25.31%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on DE shares. Citigroup increased their price target on shares of Deere & Company from $460.00 to $470.00 and gave the company a “neutral” rating in a research report on Monday, December 9th. Morgan Stanley raised their target price on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Barclays raised their price target on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Oppenheimer boosted their price objective on shares of Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Finally, Jefferies Financial Group downgraded shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price for the company. in a research report 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, Deere & Company presently has an average rating of “Hold” and an average target price 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.