Raleigh Capital Management Inc. Grows Holdings in Deere & Company (NYSE:DE)

Raleigh Capital Management Inc. lifted its position in shares of Deere & Company (NYSE:DE) by 182.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 209 shares of the industrial products company’s stock after buying an additional 135 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Deere & Company were worth $89,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. DLK Investment Management LLC raised its holdings in Deere & Company by 0.3% in the 4th quarter. DLK Investment Management LLC now owns 8,212 shares of the industrial products company’s stock valued at $3,479,000 after acquiring an additional 24 shares during the last quarter. Mattern Wealth Management LLC grew its position in shares of Deere & Company by 1.3% in the third quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock valued at $786,000 after purchasing an additional 25 shares during the period. Carret Asset Management LLC increased its stake in Deere & Company by 0.3% in the third quarter. Carret Asset Management LLC now owns 8,148 shares of the industrial products company’s stock valued at $3,401,000 after purchasing an additional 25 shares during the last quarter. Round Rock Advisors LLC lifted its position in Deere & Company by 2.0% during the third quarter. Round Rock Advisors LLC now owns 1,252 shares of the industrial products company’s stock worth $522,000 after buying an additional 25 shares during the period. Finally, Douglas Lane & Associates LLC boosted its stake in Deere & Company by 4.7% in the 4th quarter. Douglas Lane & Associates LLC now owns 557 shares of the industrial products company’s stock worth $236,000 after buying an additional 25 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on DE shares. Citigroup cut their price objective on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Truist Financial increased their price target on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Morgan Stanley boosted their price objective on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Barclays increased their target price on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Finally, UBS Group boosted their price target on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Eleven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Deere & Company currently has a consensus rating of “Hold” and an average target price of $442.83.

Deere & Company Trading Up 3.4 %

Shares of DE opened at $475.22 on Friday. Deere & Company has a one year low of $340.20 and a one year high of $475.92. The stock has a 50-day moving average price of $435.34 and a 200 day moving average price of $404.30. 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 market capitalization of $129.43 billion, a P/E ratio of 18.56, a P/E/G ratio of 2.86 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 EPS for the quarter, beating the consensus estimate of $3.89 by $0.66. The company had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The business’s revenue was down 32.8% on a year-over-year basis. During the same period in the prior year, the business posted $8.26 EPS. Sell-side analysts forecast that Deere & Company will post 19.34 EPS for the current fiscal year.

Deere & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $1.62 per share. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend is Tuesday, December 31st. Deere & Company’s dividend payout ratio (DPR) is currently 25.31%.

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.