Relyea Zuckerberg Hanson LLC Acquires 34 Shares of Deere & Company (NYSE:DE)

Relyea Zuckerberg Hanson LLC boosted its stake in shares of Deere & Company (NYSE:DE) by 3.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 956 shares of the industrial products company’s stock after purchasing an additional 34 shares during the period. Relyea Zuckerberg Hanson LLC’s holdings in Deere & Company were worth $405,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. Wellington Management Group LLP raised its stake in shares of Deere & Company by 32.0% in 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 buying an additional 1,782,984 shares during the period. Geode Capital Management LLC increased its holdings in Deere & Company by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company’s stock worth $2,168,737,000 after acquiring an additional 31,459 shares during the last quarter. FMR LLC raised its stake 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 acquiring an additional 988,380 shares during the period. Legal & General Group Plc lifted its holdings in Deere & Company by 2.7% during the second quarter. Legal & General Group Plc now owns 2,254,266 shares of the industrial products company’s stock valued at $842,259,000 after purchasing an additional 60,255 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its position in Deere & Company by 8.6% during the third quarter. Fisher Asset Management LLC now owns 1,994,657 shares of the industrial products company’s stock worth $832,431,000 after purchasing an additional 158,732 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Up 2.1 %

Deere & Company stock traded up $9.35 during mid-day trading on Friday, hitting $448.46. The company’s stock had a trading volume of 364,740 shares, compared to its average volume of 1,173,683. The business has a 50 day moving average price of $429.66 and a 200-day moving average price of $401.06. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. Deere & Company has a 12 month low of $340.20 and a 12 month high of $469.39. The stock has a market cap of $121.79 billion, a price-to-earnings ratio of 17.53, a price-to-earnings-growth ratio of 1.74 and a beta of 0.98.

Deere & Company (NYSE:DE) last released its earnings results 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. The company had revenue of $9.28 billion during 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%. Deere & Company’s revenue for the quarter was down 32.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $8.26 EPS. As a group, analysts forecast that Deere & Company will post 19.57 EPS for the current year.

Deere & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend 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 25.31%.

Analysts Set New Price Targets

A number of analysts recently commented on DE shares. Oppenheimer upped their price target on shares of Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. increased their target price on Deere & Company from $450.00 to $470.00 and gave the stock a “neutral” rating in a research report on Wednesday. Jefferies Financial Group lowered 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. Truist Financial boosted their price objective on Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, Barclays raised their target price on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research note 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, Deere & Company currently has an average rating of “Hold” and an average target price of $442.83.

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.