Angeles Wealth Management LLC Boosts Holdings in Deere & Company (NYSE:DE)

Angeles Wealth Management LLC raised its stake in shares of Deere & Company (NYSE:DE) by 35.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 663 shares of the industrial products company’s stock after buying an additional 175 shares during the period. Angeles Wealth Management LLC’s holdings in Deere & Company were worth $281,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of DE. Everence Capital Management Inc. boosted its holdings in Deere & Company by 148.3% during the fourth quarter. Everence Capital Management Inc. now owns 12,223 shares of the industrial products company’s stock worth $5,179,000 after buying an additional 7,300 shares in the last quarter. Stockbridge Partners LLC boosted its stake in shares of Deere & Company by 157.5% during the 3rd quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock worth $369,019,000 after acquiring an additional 540,874 shares in the last quarter. Compass Financial Services Inc acquired a new stake in shares of Deere & Company during the 4th quarter valued at about $254,000. Toronto Dominion Bank increased its stake in shares of Deere & Company by 1.5% in the 3rd quarter. Toronto Dominion Bank now owns 86,952 shares of the industrial products company’s stock valued at $36,288,000 after purchasing an additional 1,291 shares in the last quarter. Finally, Chase Investment Counsel Corp raised its holdings in Deere & Company by 53.8% in the 3rd quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock worth $1,669,000 after purchasing an additional 1,400 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Barclays boosted their price objective on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. UBS Group boosted their price target 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. Oppenheimer increased their price objective on shares of Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Citigroup cut their target price on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Finally, Truist Financial raised their price target on shares of Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Deere & Company presently has an average rating of “Hold” and a consensus target price of $446.17.

Deere & Company Stock Up 1.0 %

Shares of DE opened at $470.22 on Tuesday. Deere & Company has a 52-week low of $340.20 and a 52-week high of $485.84. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. The stock has a fifty day simple moving average of $445.00 and a two-hundred day simple moving average of $413.46. The company has a market capitalization of $128.06 billion, a PE ratio of 18.37, a price-to-earnings-growth ratio of 2.87 and a beta of 0.98.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating the consensus estimate of $3.89 by $0.66. The company had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. Deere & Company’s revenue was down 32.8% on a year-over-year basis. During the same period in the previous year, the business posted $8.26 EPS. As a group, equities analysts forecast that Deere & Company will post 19.38 EPS for the current year.

Deere & Company Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend was Tuesday, December 31st. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio (DPR) is 25.31%.

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.