Dale Q Rice Investment Management Ltd purchased a new stake in Deere & Company (NYSE:DE – Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,868 shares of the industrial products company’s stock, valued at approximately $791,000.
A number of other hedge funds also recently modified their holdings of DE. Wellington Management Group LLP increased its position in shares of Deere & Company by 32.0% during the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock valued at $3,068,404,000 after purchasing an additional 1,782,984 shares during the period. Geode Capital Management LLC boosted its stake in Deere & Company by 0.6% during the third quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company’s stock worth $2,168,737,000 after buying an additional 31,459 shares in the last quarter. FMR LLC increased its holdings in Deere & Company by 27.8% in the 3rd quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock valued at $1,895,518,000 after buying an additional 988,380 shares during the period. Legal & General Group Plc raised its stake in shares of Deere & Company by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 2,254,266 shares of the industrial products company’s stock valued at $842,259,000 after buying an additional 60,255 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Deere & Company by 15.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock worth $802,037,000 after acquiring an additional 279,627 shares during the period. Institutional investors own 68.58% of the company’s stock.
Analyst Ratings Changes
DE has been the topic of a number of analyst reports. Citigroup upped their target price on shares of Deere & Company from $460.00 to $470.00 and gave the company a “neutral” rating in a research note on Monday, December 9th. UBS Group upped their price objective on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. raised their target price on Deere & Company from $420.00 to $450.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Morgan Stanley boosted their price target on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Finally, Oppenheimer increased their price objective on Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Deere & Company presently has a consensus rating of “Hold” and a consensus price target of $443.94.
Deere & Company Stock Up 5.3 %
NYSE:DE opened at $430.17 on Tuesday. The stock’s fifty day moving average price is $428.56 and its two-hundred day moving average price is $400.45. The company has a market cap of $117.69 billion, a price-to-earnings ratio of 16.80, a P/E/G ratio of 1.88 and a beta of 0.96. Deere & Company has a 52-week low of $340.20 and a 52-week 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.
Deere & Company (NYSE:DE – Get Free Report) last issued its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.89 by $0.66. The business had revenue of $9.28 billion for the quarter, compared to analyst estimates 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 for the quarter was down 32.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $8.26 earnings per share. On average, analysts anticipate that Deere & Company will post 19.41 EPS for the current year.
Deere & Company Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be given a dividend of $1.62 per share. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.51%. Deere & Company’s payout ratio is currently 22.97%.
Deere & 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.
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