Deere & Company (NYSE:DE) Stake Lifted by Border to Coast Pensions Partnership Ltd

Border to Coast Pensions Partnership Ltd lifted its position in Deere & Company (NYSE:DE) by 5.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 103,510 shares of the industrial products company’s stock after buying an additional 5,110 shares during the quarter. Border to Coast Pensions Partnership Ltd’s holdings in Deere & Company were worth $43,828,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of DE. Fairscale Capital LLC purchased a new position in shares of Deere & Company during the second quarter valued at $26,000. Livelsberger Financial Advisory bought a new stake in shares of Deere & Company in the 3rd quarter valued at approximately $32,000. Modus Advisors LLC bought a new stake in Deere & Company in the fourth quarter worth approximately $32,000. Centennial Bank AR increased its position in Deere & Company by 420.0% during the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after buying an additional 84 shares during the last quarter. Finally, Continuum Advisory LLC increased its holdings in shares of Deere & Company by 155.8% during the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 67 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

DE stock opened at $439.29 on Friday. The stock has a market cap of $119.30 billion, a price-to-earnings ratio of 17.16, a P/E/G ratio of 1.74 and a beta of 0.98. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. The company has a 50 day simple moving average of $429.66 and a 200 day simple moving average of $401.06. Deere & Company has a 1 year low of $340.20 and a 1 year high of $469.39.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, beating analysts’ consensus estimates of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The company had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. During the same period in the prior year, the company earned $8.26 EPS. Deere & Company’s revenue was down 32.8% compared to the same quarter last year. Research analysts anticipate that Deere & Company will post 19.57 EPS for the current fiscal year.

Deere & Company Increases Dividend

The company 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 dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.48%. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date is Tuesday, December 31st. Deere & Company’s dividend payout ratio (DPR) is presently 25.31%.

Wall Street Analyst Weigh In

DE has been the topic of several recent analyst reports. Oppenheimer lifted their target price on shares of Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Truist Financial boosted their price target on Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Citigroup reduced 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. JPMorgan Chase & Co. raised their target price on Deere & Company from $450.00 to $470.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Jefferies Financial Group cut shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective on the stock. in a research note on Friday, December 6th. 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.com, the stock has a consensus rating of “Hold” and an average target price 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.