Confluence Wealth Services Inc. Has $1.02 Million Stake in Deere & Company (NYSE:DE)

Confluence Wealth Services Inc. increased its holdings in shares of Deere & Company (NYSE:DE) by 13.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,405 shares of the industrial products company’s stock after acquiring an additional 276 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Deere & Company were worth $1,019,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Modus Advisors LLC acquired a new stake in Deere & Company during the fourth quarter worth approximately $32,000. Livelsberger Financial Advisory bought a new position in shares of Deere & Company during the third quarter worth approximately $32,000. Synergy Asset Management LLC acquired a new stake in Deere & Company during the 4th quarter worth approximately $35,000. 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 valued at $43,000 after purchasing an additional 67 shares during the period. Finally, Darwin Wealth Management LLC acquired a new position in Deere & Company in the 3rd quarter valued at $47,000. Institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Citigroup dropped their target price on Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Morgan Stanley lifted their price objective on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Jefferies Financial Group lowered shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a research report on Friday, December 6th. UBS Group raised their target price 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. Finally, Oppenheimer boosted their price target on Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Deere & Company currently has a consensus rating of “Hold” and a consensus target price of $444.50.

Deere & Company Stock Down 1.0 %

Shares of NYSE DE opened at $467.77 on Thursday. The company has a market cap of $127.40 billion, a price-to-earnings ratio of 18.27, a PEG ratio of 2.94 and a beta of 0.98. 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 12 month low of $340.20 and a 12 month high of $485.84. The stock has a 50-day moving average price of $445.00 and a two-hundred day moving average price of $411.50.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.89 by $0.66. The business had revenue of $9.28 billion during 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 firm’s quarterly revenue was down 32.8% compared to the same quarter last year. During the same period in the prior year, the company earned $8.26 EPS. As a group, analysts forecast that Deere & Company will post 19.38 earnings per share 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. Stockholders of record on Tuesday, December 31st will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.39%. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend is Tuesday, December 31st. Deere & Company’s dividend payout ratio is presently 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.