Deere & Company (NYSE:DE) Shares Bought by Alpha Cubed Investments LLC

Alpha Cubed Investments LLC boosted its position in shares of Deere & Company (NYSE:DE) by 8.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 2,324 shares of the industrial products company’s stock after acquiring an additional 182 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Deere & Company were worth $929,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MONECO Advisors LLC raised its stake in shares of Deere & Company by 42.7% during the 4th quarter. MONECO Advisors LLC now owns 942 shares of the industrial products company’s stock valued at $377,000 after buying an additional 282 shares during the last quarter. Brighton Jones LLC grew its position in shares of Deere & Company by 11.3% in the fourth quarter. Brighton Jones LLC now owns 5,853 shares of the industrial products company’s stock valued at $2,341,000 after purchasing an additional 595 shares in the last quarter. Mission Wealth Management LP grew its position in Deere & Company by 63.2% in the fourth quarter. Mission Wealth Management LP now owns 3,158 shares of the industrial products company’s stock worth $1,263,000 after acquiring an additional 1,223 shares during the period. Penobscot Investment Management Company Inc. boosted its position in shares of Deere & Company by 18.7% during the fourth quarter. Penobscot Investment Management Company Inc. now owns 10,525 shares of the industrial products company’s stock worth $4,209,000 after buying an additional 1,660 shares during the period. Finally, Field & Main Bank raised its stake in shares of Deere & Company by 1.3% in the fourth quarter. Field & Main Bank now owns 4,023 shares of the industrial products company’s stock valued at $1,609,000 after acquiring an additional 50 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on DE shares. Melius Research reaffirmed a “hold” rating on shares of Deere & Company in a report on Monday, January 8th. Morgan Stanley assumed coverage on Deere & Company in a research report on Monday, January 8th. They set an “overweight” rating and a $430.00 price objective for the company. Truist Financial initiated coverage on Deere & Company in a research report on Thursday, March 14th. They set a “buy” rating and a $494.00 price objective for the company. Stifel Nicolaus cut their price target on Deere & Company from $435.00 to $425.00 and set a “buy” rating for the company in a report on Friday, February 16th. Finally, Citigroup lowered their price objective on shares of Deere & Company from $450.00 to $435.00 and set a “buy” rating for the company in a research note on Friday, February 16th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $433.28.

Deere & Company Stock Performance

Shares of DE opened at $391.41 on Wednesday. Deere & Company has a 12 month low of $345.55 and a 12 month high of $450.00. The firm has a market cap of $108.95 billion, a price-to-earnings ratio of 11.40, a price-to-earnings-growth ratio of 1.51 and a beta of 1.04. The company’s fifty day moving average is $389.34 and its 200-day moving average is $383.73. The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 1.81.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $1.04. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The firm had revenue of $10.49 billion during the quarter, compared to the consensus estimate of $10.30 billion. During the same period last year, the firm posted $6.55 EPS. The firm’s quarterly revenue was down 8.0% on a year-over-year basis. Equities analysts expect that Deere & Company will post 27.37 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th will be paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date is Wednesday, March 27th. Deere & Company’s dividend payout ratio is presently 17.12%.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.