Ritholtz Wealth Management Acquires 510 Shares of Deere & Company (NYSE:DE)

Ritholtz Wealth Management grew its holdings in Deere & Company (NYSE:DE) by 17.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,419 shares of the industrial products company’s stock after acquiring an additional 510 shares during the quarter. Ritholtz Wealth Management’s holdings in Deere & Company were worth $1,449,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of DE. Fairscale Capital LLC acquired a new position in shares of Deere & Company during the second quarter worth about $26,000. Livelsberger Financial Advisory acquired a new position in shares of Deere & Company during the third quarter worth about $32,000. Modus Advisors LLC acquired a new position in shares of Deere & Company during the fourth quarter worth about $32,000. Centennial Bank AR boosted its position in Deere & Company by 420.0% during the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 84 shares during the last quarter. Finally, Continuum Advisory LLC boosted 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 valued at $43,000 after purchasing an additional 67 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on DE. JPMorgan Chase & Co. increased their price target on Deere & Company from $450.00 to $470.00 and gave the company a “neutral” rating in a research report on Wednesday. UBS Group increased their price target on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Citigroup reduced their price target on Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Morgan Stanley increased their price target on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Finally, Barclays raised their price objective on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Eleven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $442.83.

Deere & Company Trading Up 4.0 %

NYSE DE opened at $456.57 on Friday. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. Deere & Company has a twelve month low of $340.20 and a twelve month high of $469.39. The company has a market cap of $124.00 billion, a price-to-earnings ratio of 17.83, a price-to-earnings-growth ratio of 1.74 and a beta of 0.98. The business’s fifty day moving average is $431.48 and its 200 day moving average is $401.99.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating the consensus estimate of $3.89 by $0.66. The company had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. Deere & Company’s revenue for the quarter was down 32.8% on a year-over-year basis. During the same quarter last year, the business posted $8.26 EPS. As a group, sell-side analysts expect that Deere & Company will post 19.57 EPS for the current fiscal year.

Deere & Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a yield of 1.42%. Deere & Company’s payout ratio is presently 25.31%.

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.