Pacifica Partners Inc. Acquires 58 Shares of Deere & Company (NYSE:DE)

Pacifica Partners Inc. grew its stake in Deere & Company (NYSE:DE) by 5.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,033 shares of the industrial products company’s stock after acquiring an additional 58 shares during the period. Pacifica Partners Inc.’s holdings in Deere & Company were worth $432,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of DE. Fairscale Capital LLC bought a new stake in shares of Deere & Company during the 2nd quarter worth approximately $26,000. Livelsberger Financial Advisory acquired a new position in Deere & Company during the third quarter worth $32,000. Modus Advisors LLC bought a new stake in Deere & Company during the fourth quarter worth $32,000. Centennial Bank AR lifted its stake in Deere & Company by 420.0% in the second 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 during the last quarter. Finally, Continuum Advisory LLC grew its position in shares of Deere & Company by 155.8% in the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 67 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. UBS Group raised their target price on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Jefferies Financial Group downgraded Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price for the company. in a research note on Friday, December 6th. Oppenheimer increased their price target on Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Barclays lifted their price objective on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Finally, JPMorgan Chase & Co. raised their target price on shares of Deere & Company from $420.00 to $450.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $441.72.

Deere & Company Stock Performance

Shares of NYSE:DE opened at $432.17 on Wednesday. Deere & Company has a 1 year low of $340.20 and a 1 year high of $469.39. The stock has a market capitalization of $118.24 billion, a price-to-earnings ratio of 16.88, a price-to-earnings-growth ratio of 1.88 and a beta of 0.96. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. The company’s 50 day simple moving average is $429.20 and its 200 day simple moving average is $400.87.

Deere & Company (NYSE:DE) last issued 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 company had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. During the same quarter last year, the company posted $8.26 EPS. The company’s revenue for the quarter was down 32.8% compared to the same quarter last year. As a group, research analysts predict that Deere & Company will post 19.41 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. Stockholders of record on Tuesday, December 31st will be issued a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.50%. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio is 22.97%.

Deere & Company Profile

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.