DB Fitzpatrick & Co Inc Has $2.13 Million Position in Deere & Company (NYSE:DE)

DB Fitzpatrick & Co Inc cut its holdings in Deere & Company (NYSE:DE) by 3.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,023 shares of the industrial products company’s stock after selling 158 shares during the quarter. Deere & Company makes up approximately 2.0% of DB Fitzpatrick & Co Inc’s holdings, making the stock its 6th largest holding. DB Fitzpatrick & Co Inc’s holdings in Deere & Company were worth $2,128,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of DE. Edgestream Partners L.P. purchased a new position in Deere & Company during the second quarter valued at $216,000. Kendall Capital Management increased its holdings in Deere & Company by 3.6% in the 2nd quarter. Kendall Capital Management now owns 1,453 shares of the industrial products company’s stock worth $543,000 after buying an additional 50 shares in the last quarter. Brighton Jones LLC boosted its stake in shares of Deere & Company by 6.4% in the 2nd quarter. Brighton Jones LLC now owns 6,219 shares of the industrial products company’s stock worth $2,324,000 after buying an additional 372 shares during the last quarter. Ieq Capital LLC lifted its stake in shares of Deere & Company by 5.1% in the 2nd quarter. Ieq Capital LLC now owns 15,345 shares of the industrial products company’s stock worth $5,733,000 after purchasing an additional 751 shares during the period. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in Deere & Company by 2.3% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 16,147 shares of the industrial products company’s stock worth $6,033,000 after purchasing an additional 362 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Up 4.0 %

Shares of Deere & Company stock opened at $456.57 on Friday. The stock has a market cap of $124.00 billion, a PE ratio of 17.83, a price-to-earnings-growth ratio of 1.74 and a beta of 0.98. The firm has a fifty day moving average price of $430.22 and a 200 day moving average price of $401.33. Deere & Company has a 1 year low of $340.20 and a 1 year high of $469.39. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90.

Deere & Company (NYSE:DE) last issued its quarterly earnings data 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. The business had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The company’s revenue for the quarter was down 32.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $8.26 EPS. Equities research analysts predict that Deere & Company will post 19.57 earnings per share for the current year.

Deere & Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio (DPR) is currently 25.31%.

Analysts Set New Price Targets

DE has been the topic of a number of recent analyst reports. UBS Group raised their price target on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Citigroup cut their price objective on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a research report on Tuesday. Oppenheimer increased their target price on Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Barclays lifted their target price on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Finally, Truist Financial upped their target price on Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Deere & Company has a consensus rating of “Hold” and an average price target of $442.83.

Deere & Company 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.