Institute for Wealth Management LLC. Grows Stock Holdings in Deere & Company (NYSE:DE)

Institute for Wealth Management LLC. grew its stake in Deere & Company (NYSE:DE) by 1.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,813 shares of the industrial products company’s stock after buying an additional 53 shares during the period. Institute for Wealth Management LLC.’s holdings in Deere & Company were worth $2,039,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of DE. Clearbridge Investments LLC increased its position in shares of Deere & Company by 4.9% in the second quarter. Clearbridge Investments LLC now owns 234,952 shares of the industrial products company’s stock valued at $87,785,000 after buying an additional 10,899 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in Deere & Company in the second quarter worth approximately $22,367,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Deere & Company during the 2nd quarter worth $77,491,000. Centaurus Financial Inc. boosted its stake in shares of Deere & Company by 2.3% during the second quarter. Centaurus Financial Inc. now owns 1,160 shares of the industrial products company’s stock worth $433,000 after buying an additional 26 shares during the period. Finally, Greater Midwest Financial Group LLC raised its position in Deere & Company by 7.0% during the 2nd quarter. Greater Midwest Financial Group LLC now owns 5,995 shares of the industrial products company’s stock worth $2,106,000 after buying an additional 390 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on DE shares. Morgan Stanley boosted their target price on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. 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 report on Tuesday, January 14th. Truist Financial increased their price target on shares of 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 lifted their target price on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Finally, JPMorgan Chase & Co. upped their target price 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. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $444.50.

Deere & Company Trading Up 0.4 %

Shares of DE opened at $479.91 on Friday. Deere & Company has a 1-year low of $340.20 and a 1-year high of $485.84. The business’s 50-day moving average price is $443.22 and its 200 day moving average price is $408.60. The stock has a market capitalization of $130.70 billion, a P/E ratio of 18.75, a P/E/G ratio of 2.95 and a beta of 0.98. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating analysts’ consensus estimates of $3.89 by $0.66. The business 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $8.26 earnings per share. Analysts expect that Deere & Company will post 19.38 earnings per share for the current year.

Deere & Company Increases Dividend

The business also recently declared 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. The ex-dividend date is Tuesday, December 31st. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.35%. Deere & Company’s dividend payout ratio is 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.