Marion Wealth Management Purchases 253 Shares of Deere & Company (NYSE:DE)

Marion Wealth Management grew its stake in Deere & Company (NYSE:DE) by 7.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,864 shares of the industrial products company’s stock after purchasing an additional 253 shares during the period. Marion Wealth Management’s holdings in Deere & Company were worth $1,637,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Fairscale Capital LLC acquired a new stake in shares of Deere & Company during the second quarter worth about $26,000. Livelsberger Financial Advisory bought a new stake in Deere & Company during the 3rd quarter worth approximately $32,000. Modus Advisors LLC acquired a new stake in Deere & Company during the 4th quarter worth approximately $32,000. Centennial Bank AR lifted its stake in Deere & Company by 420.0% in the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after buying an additional 84 shares in the last quarter. Finally, Continuum Advisory LLC boosted its holdings in shares of Deere & Company by 155.8% in the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock valued at $43,000 after buying an additional 67 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Performance

NYSE:DE traded up $21.60 during trading hours on Monday, reaching $430.17. The stock had a trading volume of 1,988,654 shares, compared to its average volume of 1,245,684. Deere & Company has a 12-month low of $340.20 and a 12-month 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. The stock has a 50 day simple moving average of $427.99 and a 200 day simple moving average of $400.08. The stock has a market cap of $117.69 billion, a P/E ratio of 16.80, a price-to-earnings-growth ratio of 1.88 and a beta of 0.96.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating analysts’ consensus estimates of $3.89 by $0.66. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The business had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.20 billion. During the same period in the previous year, the business earned $8.26 EPS. Deere & Company’s revenue was down 32.8% compared to the same quarter last year. On average, research analysts forecast that Deere & Company will post 19.41 EPS for the current fiscal year.

Deere & Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date is Tuesday, December 31st. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio is 22.97%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on DE shares. Oppenheimer upped their target price on shares of Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. increased their price objective on Deere & Company from $420.00 to $450.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Truist Financial boosted their target price on Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Barclays raised 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. Finally, 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 report on Monday, November 25th. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $443.94.

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.