Lake Street Private Wealth LLC Raises Stake in Deere & Company (NYSE:DE)

Lake Street Private Wealth LLC lifted its position in shares of Deere & Company (NYSE:DE) by 19.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 777 shares of the industrial products company’s stock after buying an additional 129 shares during the quarter. Lake Street Private Wealth LLC’s holdings in Deere & Company were worth $329,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Fairscale Capital LLC purchased a new position in shares of Deere & Company during the 2nd quarter worth $26,000. Livelsberger Financial Advisory acquired a new position in Deere & Company in the third quarter valued at $32,000. Modus Advisors LLC purchased a new position in Deere & Company during the fourth quarter worth about $32,000. Centennial Bank AR lifted its position in Deere & Company by 420.0% during the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after buying an additional 84 shares during the period. Finally, Continuum Advisory LLC boosted its stake in Deere & Company by 155.8% in the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after buying an additional 67 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on DE. Citigroup dropped their price objective 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. JPMorgan Chase & Co. upped their price target on shares of Deere & Company from $450.00 to $470.00 and gave the stock a “neutral” rating in a research report on Wednesday. Truist Financial lifted their price target 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. UBS Group boosted their price objective on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Finally, Oppenheimer increased their target price on Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $442.83.

Deere & Company Trading Up 4.0 %

NYSE DE opened at $456.57 on Friday. The stock has a market cap of $124.00 billion, a P/E ratio of 17.83, a PEG ratio of 1.74 and a beta of 0.98. The company’s fifty day simple moving average is $431.48 and its 200-day simple moving average is $401.99. 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 has a 52 week low of $340.20 and a 52 week high of $469.39.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping analysts’ consensus estimates of $3.89 by $0.66. The firm 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%. The firm’s revenue was down 32.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $8.26 EPS. Equities research analysts predict that Deere & Company will post 19.57 EPS for the current fiscal year.

Deere & Company Increases Dividend

The firm 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 dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is 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%.

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.