486 Shares in Deere & Company (NYSE:DE) Purchased by Spartan Planning & Wealth Management

Spartan Planning & Wealth Management purchased a new stake in Deere & Company (NYSE:DE) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 486 shares of the industrial products company’s stock, valued at approximately $206,000.

Several other institutional investors have also recently made changes to their positions in the stock. Neville Rodie & Shaw Inc. raised its holdings in shares of Deere & Company by 3.5% in the 4th quarter. Neville Rodie & Shaw Inc. now owns 4,425 shares of the industrial products company’s stock valued at $1,875,000 after purchasing an additional 149 shares during the period. CWA Asset Management Group LLC increased its position in Deere & Company by 1.0% during the fourth quarter. CWA Asset Management Group LLC now owns 41,579 shares of the industrial products company’s stock worth $17,617,000 after buying an additional 396 shares during the last quarter. Nordea Investment Management AB raised its stake in Deere & Company by 765.4% in the fourth quarter. Nordea Investment Management AB now owns 209,616 shares of the industrial products company’s stock valued at $88,969,000 after buying an additional 185,395 shares during the period. Everence Capital Management Inc. raised its stake in 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 valued at $5,179,000 after buying an additional 7,300 shares during the period. Finally, Modus Advisors LLC acquired a new stake in shares of Deere & Company in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of NYSE DE traded down $3.01 during mid-day trading on Tuesday, reaching $414.99. The company had a trading volume of 361,675 shares, compared to its average volume of 824,434. The firm has a market cap of $112.70 billion, a price-to-earnings ratio of 16.21, a PEG ratio of 1.91 and a beta of 0.98. The business’s 50-day simple moving average is $427.49 and its 200 day simple moving average is $399.08. Deere & Company has a one year low of $340.20 and a one year high of $469.39. 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 released its 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. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The firm had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. During the same period last year, the firm earned $8.26 EPS. The business’s quarterly revenue was down 32.8% compared to the same quarter last year. On average, research analysts predict that Deere & Company will post 19.52 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be given a dividend of $1.62 per share. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend is Tuesday, December 31st. Deere & Company’s payout ratio is currently 25.31%.

Analyst Ratings Changes

A number of research firms recently weighed in on DE. Truist Financial boosted their target price on Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. UBS Group increased their price objective on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Jefferies Financial Group cut 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. Citigroup increased their price target on shares of Deere & Company from $460.00 to $470.00 and gave the company a “neutral” rating in a report on Monday, December 9th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Deere & Company from $420.00 to $450.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Thirteen research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $443.94.

Deere & 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.