Deere & Company (NYSE:DE) Holdings Raised by Tritonpoint Wealth LLC

Tritonpoint Wealth LLC lifted its position in shares of Deere & Company (NYSE:DE) by 25.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 678 shares of the industrial products company’s stock after acquiring an additional 139 shares during the quarter. Tritonpoint Wealth LLC’s holdings in Deere & Company were worth $288,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Modus Advisors LLC bought a new position in shares of Deere & Company in the 4th quarter worth about $32,000. Livelsberger Financial Advisory acquired a new stake in shares of Deere & Company in the 3rd quarter worth about $32,000. Synergy Asset Management LLC bought a new position in Deere & Company in the 4th quarter worth about $35,000. Continuum Advisory LLC increased its stake in shares of Deere & Company by 155.8% in the third 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 bought a new stake in shares of Deere & Company during the third quarter valued at approximately $47,000. 68.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on DE shares. Morgan Stanley raised their target price on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Jefferies Financial Group cut shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective on the stock. in a research note on Friday, December 6th. Oppenheimer increased their target price on shares of Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Truist Financial boosted their price target on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, Barclays upped their price objective on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $444.50.

Deere & Company Stock Performance

Shares of DE stock opened at $476.29 on Monday. The stock’s fifty day simple moving average is $444.68 and its 200-day simple moving average is $410.05. The company has a market capitalization of $129.72 billion, a price-to-earnings ratio of 18.61, a P/E/G ratio of 2.95 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 1-year low of $340.20 and a 1-year high of $485.84.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating analysts’ consensus estimates of $3.89 by $0.66. The company had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The firm’s quarterly revenue was down 32.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $8.26 EPS. On average, sell-side analysts predict that Deere & Company will post 19.38 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $1.62 per share. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a dividend yield of 1.36%. The ex-dividend date is Tuesday, December 31st. Deere & Company’s payout ratio is currently 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.