Selective Wealth Management Inc. Takes Position in Deere & Company (NYSE:DE)

Selective Wealth Management Inc. purchased a new position in Deere & Company (NYSE:DE) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 464 shares of the industrial products company’s stock, valued at approximately $201,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of DE. Brooklyn Investment Group lifted its holdings in shares of Deere & Company by 8.3% in the fourth quarter. Brooklyn Investment Group now owns 1,691 shares of the industrial products company’s stock valued at $716,000 after purchasing an additional 130 shares in the last quarter. Whitener Capital Management Inc. raised its position in Deere & Company by 1.4% during the fourth quarter. Whitener Capital Management Inc. now owns 7,213 shares of the industrial products company’s stock valued at $3,056,000 after buying an additional 99 shares during the period. Carderock Capital Management Inc. purchased a new stake in Deere & Company in the 4th quarter worth about $364,000. Merit Financial Group LLC boosted its position in Deere & Company by 11.8% during the 4th quarter. Merit Financial Group LLC now owns 8,464 shares of the industrial products company’s stock worth $3,586,000 after acquiring an additional 890 shares during the period. Finally, Chemistry Wealth Management LLC grew its stake in Deere & Company by 8.7% during the 4th quarter. Chemistry Wealth Management LLC now owns 3,453 shares of the industrial products company’s stock valued at $1,463,000 after acquiring an additional 276 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Oppenheimer raised their price target on shares of Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Jefferies Financial Group lowered 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 note on Friday, December 6th. Barclays upped their price target on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. UBS Group lifted their price objective on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, JPMorgan Chase & Co. upped their target price on Deere & Company from $450.00 to $470.00 and gave the stock a “neutral” rating in a research report on Wednesday. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $442.83.

Deere & Company Stock Performance

NYSE:DE opened at $456.57 on Friday. The firm’s 50-day moving average is $430.22 and its 200-day moving average is $401.33. The company has a market cap of $124.00 billion, a price-to-earnings ratio of 17.83, a PEG ratio of 1.74 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 52-week low of $340.20 and a 52-week high of $469.39.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, beating the consensus estimate of $3.89 by $0.66. The firm 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 prior year, the firm posted $8.26 EPS. Equities research analysts anticipate that Deere & Company will post 19.57 earnings per share for the current year.

Deere & Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be issued a $1.62 dividend. 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 payout ratio is 25.31%.

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.