Financial Perspectives Inc Boosts Position in Deere & Company (NYSE:DE)

Financial Perspectives Inc raised its stake in shares of Deere & Company (NYSE:DE) by 68.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 407 shares of the industrial products company’s stock after buying an additional 166 shares during the quarter. Financial Perspectives Inc’s holdings in Deere & Company were worth $172,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Everence Capital Management Inc. grew its holdings in shares of Deere & Company by 148.3% during the fourth quarter. Everence Capital Management Inc. now owns 12,223 shares of the industrial products company’s stock worth $5,179,000 after purchasing an additional 7,300 shares in the last quarter. Stockbridge Partners LLC grew its holdings in shares of Deere & Company by 157.5% during the third quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock worth $369,019,000 after purchasing an additional 540,874 shares in the last quarter. Compass Financial Services Inc purchased a new position in shares of Deere & Company during the fourth quarter worth about $254,000. Toronto Dominion Bank grew its holdings in shares of Deere & Company by 1.5% during the third quarter. Toronto Dominion Bank now owns 86,952 shares of the industrial products company’s stock worth $36,288,000 after purchasing an additional 1,291 shares in the last quarter. Finally, Chase Investment Counsel Corp grew its holdings in shares of Deere & Company by 53.8% during the third quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock worth $1,669,000 after purchasing an additional 1,400 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on DE. UBS Group boosted their target price on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Oppenheimer boosted their target price on Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Truist Financial restated a “buy” rating and issued a $546.00 target price (down previously from $550.00) on shares of Deere & Company in a research report on Friday, February 14th. Jefferies Financial Group downgraded Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price for the company. in a research report on Friday, December 6th. Finally, Citigroup boosted their target price on Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Eleven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $450.12.

Deere & Company Price Performance

Shares of Deere & Company stock opened at $501.40 on Wednesday. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. The company has a market cap of $136.55 billion, a PE ratio of 22.22, a P/E/G ratio of 2.96 and a beta of 0.98. The business has a 50 day moving average of $448.71 and a 200 day moving average of $418.73. Deere & Company has a 52 week low of $340.20 and a 52 week high of $502.10.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, topping the consensus estimate of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. As a group, equities research analysts forecast that Deere & Company will post 19.35 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. Stockholders of record on Tuesday, December 31st were issued 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 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend was Tuesday, December 31st. Deere & Company’s dividend payout ratio is presently 28.72%.

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.