Deere & Company (NYSE:DE) Shares Purchased by GSB Wealth Management LLC

GSB Wealth Management LLC increased its stake in shares of Deere & Company (NYSE:DE) by 35.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,206 shares of the industrial products company’s stock after purchasing an additional 573 shares during the quarter. GSB Wealth Management LLC’s holdings in Deere & Company were worth $935,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Livelsberger Financial Advisory acquired a new stake in shares of Deere & Company during the third quarter worth $32,000. Modus Advisors LLC acquired a new stake in Deere & Company in the fourth quarter valued at $32,000. Centennial Bank AR lifted its holdings 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 acquiring an additional 84 shares during the period. Continuum Advisory LLC lifted its holdings in 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 acquiring an additional 67 shares during the period. Finally, Darwin Wealth Management LLC acquired a new stake in Deere & Company in the third quarter valued at $47,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Trading Up 0.9 %

Deere & Company stock opened at $478.90 on Friday. The stock has a market cap of $130.43 billion, a PE ratio of 18.71, a P/E/G ratio of 2.84 and a beta of 0.98. The stock has a 50-day moving average price of $438.55 and a 200 day moving average price of $405.66. Deere & Company has a 52 week low of $340.20 and a 52 week high of $479.48. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89.

Deere & Company (NYSE:DE) last posted its quarterly 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 firm’s revenue was down 32.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $8.26 EPS. Equities research analysts predict that Deere & Company will post 19.34 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be issued a $1.62 dividend. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date is Tuesday, December 31st. This represents a $6.48 annualized dividend and a yield of 1.35%. Deere & Company’s payout ratio is 25.31%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on DE shares. Jefferies Financial Group downgraded Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price for the company. in a report on Friday, December 6th. Morgan Stanley raised their target price on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, November 25th. UBS Group raised their target price on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Oppenheimer lifted their price target on Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Finally, Truist Financial lifted their price target on Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target 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.