ERn Financial LLC Acquires 33 Shares of Deere & Company (NYSE:DE)

ERn Financial LLC increased its stake in Deere & Company (NYSE:DE) by 0.9% in the 4th quarter, HoldingsChannel reports. The fund owned 3,832 shares of the industrial products company’s stock after acquiring an additional 33 shares during the period. ERn Financial LLC’s holdings in Deere & Company were worth $1,623,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in DE. Wellington Management Group LLP lifted its holdings in shares of Deere & Company by 32.0% in the 3rd quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock worth $3,068,404,000 after acquiring an additional 1,782,984 shares during the last quarter. FMR LLC raised its position 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 worth $1,895,518,000 after purchasing an additional 988,380 shares during the period. Pathway Financial Advisers LLC lifted its stake in Deere & Company by 53,338.6% in the third quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock worth $356,602,000 after purchasing an additional 852,885 shares during the last quarter. International Assets Investment Management LLC boosted its position in shares of Deere & Company by 46,892.9% during the third quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company’s stock valued at $322,218,000 after buying an additional 770,451 shares during the period. Finally, Stockbridge Partners LLC grew its stake 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 valued at $369,019,000 after buying an additional 540,874 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $428.84 on Thursday. Deere & Company has a one year low of $340.20 and a one year high of $469.39. The company has a market capitalization of $116.80 billion, a PE ratio of 16.75, a P/E/G ratio of 1.88 and a beta of 0.98. 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 company has a 50-day simple moving average of $429.20 and a two-hundred day simple moving average of $400.87.

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 firm 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 revenue was down 32.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $8.26 EPS. Research analysts expect that Deere & Company will post 19.41 EPS for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be given a $1.62 dividend. 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 dividend on an annualized basis and a dividend yield of 1.51%. Deere & Company’s dividend payout ratio (DPR) is presently 25.31%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on DE shares. Citigroup decreased their price target on Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a research note on Tuesday. Truist Financial boosted their target price on shares of 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. Jefferies Financial Group cut shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective for the company. in a research report on Friday, December 6th. Finally, UBS Group raised 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. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $442.83.

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.