Fulton Breakefield Broenniman LLC Raises Stock Position in Deere & Company (NYSE:DE)

Fulton Breakefield Broenniman LLC boosted its position in shares of Deere & Company (NYSE:DE) by 38.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,237 shares of the industrial products company’s stock after acquiring an additional 343 shares during the period. Fulton Breakefield Broenniman LLC’s holdings in Deere & Company were worth $524,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of DE. Ascent Group LLC lifted its holdings in shares of Deere & Company by 11.6% in the 2nd quarter. Ascent Group LLC now owns 1,620 shares of the industrial products company’s stock worth $605,000 after acquiring an additional 168 shares during the last quarter. Magnolia Capital Advisors LLC purchased a new position in Deere & Company during the 2nd quarter valued at $615,000. NewEdge Advisors LLC increased its position in Deere & Company by 2.6% during the 2nd quarter. NewEdge Advisors LLC now owns 19,150 shares of the industrial products company’s stock valued at $7,155,000 after purchasing an additional 493 shares during the period. Kimelman & Baird LLC purchased a new position in Deere & Company during the 2nd quarter valued at $102,000. Finally, EP Wealth Advisors LLC increased its position in Deere & Company by 76.1% during the 2nd quarter. EP Wealth Advisors LLC now owns 5,069 shares of the industrial products company’s stock valued at $1,894,000 after purchasing an additional 2,190 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on DE shares. Oppenheimer boosted their price objective on shares of Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research report on Tuesday. UBS Group upped their target price on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. 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. Morgan Stanley upped their target price on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Finally, Barclays upped their price target on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $444.50.

Deere & Company Trading Down 0.7 %

Deere & Company stock opened at $480.59 on Wednesday. The firm’s 50 day moving average price is $440.14 and its 200-day moving average price is $407.30. Deere & Company has a 1 year low of $340.20 and a 1 year high of $485.84. The stock has a market cap of $130.89 billion, a P/E ratio of 18.77, a PEG ratio of 2.84 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.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping the consensus estimate of $3.89 by $0.66. The company had revenue of $9.28 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $8.26 earnings per share. On average, equities analysts predict that Deere & Company will post 19.34 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The business also recently announced 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 is a positive change 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%. The ex-dividend date of this dividend is Tuesday, December 31st. Deere & Company’s payout ratio is currently 25.31%.

Deere & Company 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.