Weatherly Asset Management L. P. Acquires 154 Shares of Deere & Company (NYSE:DE)

Weatherly Asset Management L. P. increased its holdings in shares of Deere & Company (NYSE:DE) by 1.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 15,100 shares of the industrial products company’s stock after buying an additional 154 shares during the period. Weatherly Asset Management L. P.’s holdings in Deere & Company were worth $6,419,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DE. Everence Capital Management Inc. raised its holdings in shares of Deere & Company by 148.3% in the fourth quarter. Everence Capital Management Inc. now owns 12,223 shares of the industrial products company’s stock worth $5,179,000 after buying an additional 7,300 shares during the last quarter. Stockbridge Partners LLC raised its holdings in shares of Deere & Company by 157.5% during the third quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock worth $369,019,000 after purchasing an additional 540,874 shares during the last quarter. Compass Financial Services Inc purchased a new position in shares of Deere & Company during the fourth quarter worth $254,000. Toronto Dominion Bank raised its holdings in shares of Deere & Company by 1.5% during the third quarter. Toronto Dominion Bank now owns 86,952 shares of the industrial products company’s stock worth $36,288,000 after purchasing an additional 1,291 shares during the last quarter. Finally, Chase Investment Counsel Corp raised its holdings in shares of Deere & Company by 53.8% during the third quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock worth $1,669,000 after purchasing an additional 1,400 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Up 1.0 %

Shares of Deere & Company stock opened at $470.22 on Tuesday. The company has a market cap of $128.06 billion, a P/E ratio of 18.37, a PEG ratio of 2.87 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 one year low of $340.20 and a one year high of $485.84. The firm has a fifty day moving average of $445.00 and a two-hundred day moving average of $413.46.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping analysts’ consensus estimates of $3.89 by $0.66. The company had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. Deere & Company’s quarterly revenue was down 32.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $8.26 EPS. On average, analysts forecast 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 was paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend was Tuesday, December 31st. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio (DPR) is currently 25.31%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on DE shares. UBS Group raised their target price on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Truist Financial raised their target price on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Oppenheimer raised their target price on shares of Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Citigroup cut their price objective on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Finally, Jefferies Financial Group cut shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective for the company. in a report on Friday, December 6th. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Deere & Company currently has a consensus rating of “Hold” and an average price target of $446.17.

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.