Deere & Company (NYSE:DE) Shares Bought by Brighton Jones LLC

Brighton Jones LLC lifted its stake in shares of Deere & Company (NYSE:DE) by 39.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 4,548 shares of the industrial products company’s stock after purchasing an additional 1,278 shares during the period. Brighton Jones LLC’s holdings in Deere & Company were worth $1,927,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Public Sector Pension Investment Board increased its holdings in Deere & Company by 80.5% in the second quarter. Public Sector Pension Investment Board now owns 9,171 shares of the industrial products company’s stock valued at $3,427,000 after buying an additional 4,091 shares in the last quarter. Deerfield Management Company L.P. Series C increased its stake in Deere & Company by 84.8% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 1,589 shares of the industrial products company’s stock valued at $594,000 after purchasing an additional 729 shares in the last quarter. Daymark Wealth Partners LLC raised its holdings in Deere & Company by 68.2% during the second quarter. Daymark Wealth Partners LLC now owns 7,072 shares of the industrial products company’s stock worth $2,642,000 after purchasing an additional 2,867 shares during the last quarter. MBB Public Markets I LLC purchased a new stake in Deere & Company during the second quarter worth $7,010,000. Finally, The Manufacturers Life Insurance Company grew its holdings in Deere & Company by 5.3% in the second quarter. The Manufacturers Life Insurance Company now owns 440,028 shares of the industrial products company’s stock valued at $164,408,000 after purchasing an additional 21,955 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of DE stock opened at $478.90 on Friday. The firm has a market capitalization of $130.43 billion, a price-to-earnings ratio of 18.71, a price-to-earnings-growth ratio of 2.84 and a beta of 0.98. The company has a 50 day moving average price of $436.95 and a 200 day moving average price of $404.80. Deere & Company has a one year low of $340.20 and a one year high of $479.48. 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 (NYSE:DE) last issued its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, topping 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 business had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. During the same period last year, the company posted $8.26 EPS. The business’s quarterly revenue was down 32.8% on a year-over-year basis. Sell-side analysts anticipate that Deere & Company will post 19.34 EPS for the current year.

Deere & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be paid a $1.62 dividend. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a dividend yield of 1.35%. The ex-dividend date is Tuesday, December 31st. Deere & Company’s payout ratio is currently 25.31%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Deere & Company from $450.00 to $470.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 15th. Morgan Stanley increased their price target on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Truist Financial lifted their price objective on Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. UBS Group increased their target price on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Finally, Barclays boosted their price target on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Deere & Company presently has a consensus rating of “Hold” and an average price target of $442.83.

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.