Ballentine Partners LLC Acquires 858 Shares of Deere & Company (NYSE:DE)

Ballentine Partners LLC increased its holdings in Deere & Company (NYSE:DE) by 16.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 6,110 shares of the industrial products company’s stock after purchasing an additional 858 shares during the period. Ballentine Partners LLC’s holdings in Deere & Company were worth $2,589,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Fairscale Capital LLC purchased a new stake in Deere & Company during the 2nd quarter valued at $26,000. Livelsberger Financial Advisory bought a new stake in shares of Deere & Company in the third quarter worth $32,000. Modus Advisors LLC purchased a new stake in Deere & Company during 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. Finally, Continuum Advisory LLC boosted its position in Deere & Company by 155.8% in the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 67 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Truist Financial increased their price objective on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Oppenheimer increased their price target on shares of Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. lifted their price target on shares of Deere & Company from $450.00 to $470.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 15th. Morgan Stanley upped their price objective on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Finally, Citigroup lowered their target price on Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Deere & Company presently has a consensus rating of “Hold” and an average price target of $442.83.

Deere & Company Price Performance

DE stock opened at $456.57 on Tuesday. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. The company’s fifty day moving average price is $431.48 and its 200-day moving average price is $402.53. Deere & Company has a one year low of $340.20 and a one year high of $469.39. The company has a market capitalization of $124.00 billion, a PE ratio of 17.83, a price-to-earnings-growth ratio of 1.74 and a beta of 0.98.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping the consensus estimate of $3.89 by $0.66. The business had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The business’s quarterly revenue was down 32.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $8.26 EPS. On average, equities analysts anticipate that Deere & Company will post 19.57 EPS for the current fiscal year.

Deere & Company Increases Dividend

The company also recently declared 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. 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. This represents a $6.48 dividend on an annualized basis and a yield of 1.42%. Deere & Company’s dividend payout ratio is presently 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.