Angeles Wealth Management LLC Raises Stake in Deere & Company (NYSE:DE)

Angeles Wealth Management LLC increased its stake in Deere & Company (NYSE:DE) by 35.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 663 shares of the industrial products company’s stock after buying an additional 175 shares during the period. Angeles Wealth Management LLC’s holdings in Deere & Company were worth $281,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Livelsberger Financial Advisory bought a new stake in shares of Deere & Company during the third quarter valued at approximately $32,000. Modus Advisors LLC purchased a new position in Deere & Company during the 4th quarter worth $32,000. YANKCOM Partnership bought a new stake in Deere & Company during the 4th quarter valued at $34,000. Synergy Asset Management LLC purchased a new stake in shares of Deere & Company in the 4th quarter worth $35,000. Finally, Continuum Advisory LLC lifted its holdings in shares of Deere & Company by 155.8% in the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after buying an additional 67 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Trading Up 1.0 %

NYSE:DE opened at $470.22 on Tuesday. The company has a market capitalization 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 current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89. Deere & Company has a 12 month low of $340.20 and a 12 month high of $485.84. The firm has a fifty day simple moving average of $445.00 and a 200-day simple moving average of $413.46.

Deere & Company (NYSE:DE) last issued its quarterly earnings results 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 analysts’ expectations of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The firm’s revenue was down 32.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $8.26 EPS. On average, equities research analysts anticipate that Deere & Company will post 19.38 earnings per share for the current year.

Deere & Company Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Tuesday, December 31st were issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.38%. The ex-dividend date was Tuesday, December 31st. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio is 25.31%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on DE shares. UBS Group lifted their price objective on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Jefferies Financial Group lowered shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target for the company. in a report on Friday, December 6th. JPMorgan Chase & Co. increased their price objective on shares of Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a research note on Monday. Morgan Stanley boosted their price objective on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Finally, Barclays increased their target price on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $446.17.

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.