KG&L Capital Management LLC Increases Stock Holdings in Deere & Company (NYSE:DE)

KG&L Capital Management LLC lifted its position in shares of Deere & Company (NYSE:DE) by 14.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 8,441 shares of the industrial products company’s stock after acquiring an additional 1,048 shares during the period. Deere & Company makes up approximately 1.1% of KG&L Capital Management LLC’s investment portfolio, making the stock its 21st largest position. KG&L Capital Management LLC’s holdings in Deere & Company were worth $3,574,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Centaurus Financial Inc. grew its stake in Deere & Company by 2.3% in the 2nd quarter. Centaurus Financial Inc. now owns 1,160 shares of the industrial products company’s stock worth $433,000 after acquiring an additional 26 shares during the period. Czech National Bank lifted its position in Deere & Company by 5.8% during the third quarter. Czech National Bank now owns 52,206 shares of the industrial products company’s stock valued at $21,787,000 after buying an additional 2,875 shares in the last quarter. Duncan Williams Asset Management LLC acquired a new position in shares of Deere & Company during the 3rd quarter valued at $602,000. Thrive Wealth Management LLC boosted its position in shares of Deere & Company by 35.6% in the third quarter. Thrive Wealth Management LLC now owns 728 shares of the industrial products company’s stock worth $304,000 after buying an additional 191 shares during the period. Finally, Allied Investment Advisors LLC grew its stake in shares of Deere & Company by 1.4% in the third quarter. Allied Investment Advisors LLC now owns 26,131 shares of the industrial products company’s stock valued at $10,905,000 after buying an additional 355 shares in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Trading Down 0.8 %

NYSE DE opened at $476.29 on Friday. 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 has a one year low of $340.20 and a one year high of $485.84. The company has a 50-day simple moving average of $444.68 and a 200-day simple moving average of $409.82. The firm has a market capitalization of $129.72 billion, a PE ratio of 18.61, a price-to-earnings-growth ratio of 2.95 and a beta of 0.98.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS 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 the consensus estimate of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. Deere & Company’s quarterly revenue was down 32.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $8.26 earnings per share. On average, equities analysts forecast that Deere & Company will post 19.38 earnings per share for the current year.

Deere & Company Increases Dividend

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

Analyst Ratings Changes

DE has been the subject of a number of analyst reports. Truist Financial upped their price target on Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. raised their price target on shares of Deere & Company from $450.00 to $470.00 and gave the company a “neutral” rating in a report on Wednesday, January 15th. UBS Group boosted their price objective on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Barclays raised their target price on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Finally, Jefferies Financial Group cut Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target on the stock. in a research note on Friday, December 6th. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Deere & Company currently has an average rating of “Hold” and a consensus target price of $444.50.

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.