City State Bank Has $1.25 Million Stake in Deere & Company (NYSE:DE)

City State Bank boosted its holdings in Deere & Company (NYSE:DE) by 2.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,943 shares of the industrial products company’s stock after acquiring an additional 82 shares during the quarter. City State Bank’s holdings in Deere & Company were worth $1,247,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Wellington Management Group LLP lifted its holdings in Deere & Company by 32.0% in the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock valued at $3,068,404,000 after buying an additional 1,782,984 shares during the period. Geode Capital Management LLC raised its holdings in Deere & Company by 0.6% in the third quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company’s stock worth $2,168,737,000 after purchasing an additional 31,459 shares during the period. FMR LLC raised its holdings in Deere & Company by 27.8% in the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock worth $1,895,518,000 after purchasing an additional 988,380 shares during the period. Legal & General Group Plc raised its holdings in Deere & Company by 2.7% in the second quarter. Legal & General Group Plc now owns 2,254,266 shares of the industrial products company’s stock worth $842,259,000 after purchasing an additional 60,255 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Deere & Company by 15.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock worth $802,037,000 after purchasing an additional 279,627 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Up 3.4 %

Deere & Company stock traded up $14.01 during mid-day trading on Monday, reaching $422.58. The company’s stock had a trading volume of 411,866 shares, compared to its average volume of 1,012,824. The company has a market capitalization of $115.62 billion, a price-to-earnings ratio of 16.51, a price-to-earnings-growth ratio of 1.88 and a beta of 0.96. Deere & Company has a 12 month low of $340.20 and a 12 month high of $469.39. The business’s 50 day simple moving average is $427.99 and its 200 day simple moving average is $400.08. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, beating analysts’ consensus estimates of $3.89 by $0.66. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The company had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. During the same quarter last year, the firm posted $8.26 EPS. The company’s quarterly revenue was down 32.8% on a year-over-year basis. As a group, research analysts anticipate that Deere & Company will post 19.41 earnings per share for the current year.

Deere & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date is Tuesday, December 31st. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio (DPR) is 22.97%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on DE shares. Oppenheimer increased their target price on shares of Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. 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 report on Friday, December 6th. 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. Truist Financial increased their target price on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Deere & Company from $420.00 to $450.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Deere & Company has an average rating of “Hold” and a consensus price target of $443.94.

Deere & 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.