Deere & Company (NYSE:DE) Shares Acquired by Berkshire Bank

Berkshire Bank increased its holdings in shares of Deere & Company (NYSE:DE) by 1.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 3,489 shares of the industrial products company’s stock after buying an additional 40 shares during the period. Berkshire Bank’s holdings in Deere & Company were worth $1,478,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Lighthouse Investment Partners LLC purchased a new stake in shares of Deere & Company in the second quarter valued at approximately $237,000. SkyView Investment Advisors LLC grew its holdings in Deere & Company by 14.1% in the 2nd quarter. SkyView Investment Advisors LLC now owns 1,030 shares of the industrial products company’s stock valued at $385,000 after buying an additional 127 shares in the last quarter. Ascent Group LLC increased its stake in shares of Deere & Company by 11.6% in the 2nd quarter. Ascent Group LLC now owns 1,620 shares of the industrial products company’s stock worth $605,000 after acquiring an additional 168 shares during the last quarter. Magnolia Capital Advisors LLC purchased a new position in shares of Deere & Company during the 2nd quarter worth $615,000. Finally, NewEdge Advisors LLC boosted its position in shares of Deere & Company by 2.6% during the 2nd quarter. NewEdge Advisors LLC now owns 19,150 shares of the industrial products company’s stock valued at $7,155,000 after acquiring an additional 493 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on DE. Citigroup cut 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 report on Tuesday, January 14th. UBS Group upped their price objective on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Oppenheimer raised their target price on Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Jefferies Financial Group lowered Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target on the stock. in a research note on Friday, December 6th. Finally, Morgan Stanley raised their price objective on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Eleven investment 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 has a consensus rating of “Hold” and an average target price of $442.83.

Deere & Company Stock Performance

Shares of DE opened at $484.08 on Tuesday. The company has a market capitalization of $131.84 billion, a price-to-earnings ratio of 18.91, a price-to-earnings-growth ratio of 2.84 and a beta of 0.98. Deere & Company has a 52-week low of $340.20 and a 52-week high of $484.39. 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 50 day moving average price of $438.55 and a 200 day moving average price of $406.44.

Deere & Company (NYSE:DE) last posted its earnings results 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 firm had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. During the same period last year, the firm posted $8.26 EPS. The company’s revenue was down 32.8% on a year-over-year basis. Research analysts predict that Deere & Company will post 19.34 EPS for the current fiscal year.

Deere & Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be issued a $1.62 dividend. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend is Tuesday, December 31st. Deere & Company’s 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.