Catalina Capital Group LLC Boosts Stock Position in Deere & Company (NYSE:DE)

Catalina Capital Group LLC increased its stake in shares of Deere & Company (NYSE:DE) by 5.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,109 shares of the industrial products company’s stock after acquiring an additional 62 shares during the quarter. Catalina Capital Group LLC’s holdings in Deere & Company were worth $470,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Modus Advisors LLC purchased a new position in shares of Deere & Company during the 4th quarter worth $32,000. Livelsberger Financial Advisory purchased a new position in Deere & Company during the third quarter worth about $32,000. Synergy Asset Management LLC acquired a new position in Deere & Company in the 4th quarter valued at about $35,000. Continuum Advisory LLC grew its stake in shares of Deere & Company by 155.8% in the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock valued at $43,000 after buying an additional 67 shares during the period. Finally, Darwin Wealth Management LLC acquired a new stake in shares of Deere & Company during the 3rd quarter worth approximately $47,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Trading Down 0.8 %

NYSE DE opened at $476.29 on Monday. The firm’s fifty day moving average price is $444.68 and its 200 day moving average price is $410.05. Deere & Company has a 12 month low of $340.20 and a 12 month high of $485.84. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. The company has a market capitalization of $129.72 billion, a price-to-earnings ratio of 18.61, a price-to-earnings-growth ratio of 2.94 and a beta of 0.98.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The company had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. During the same quarter last year, the company posted $8.26 earnings per share. The business’s quarterly revenue was down 32.8% compared to the same quarter last year. On average, sell-side analysts expect that Deere & Company will post 19.38 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

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

Analyst Ratings Changes

DE has been the topic of a number of research analyst reports. Oppenheimer lifted their target price on Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Jefferies Financial Group cut shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target on the stock. in a research report on Friday, December 6th. Truist Financial lifted their price objective on shares of Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Morgan Stanley increased their target price on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Finally, Barclays upped their price objective on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Eleven 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.com, Deere & Company presently has a consensus rating of “Hold” and an average target price of $444.50.

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.