Deere & Company (NYSE:DE) Shares Acquired by Pineridge Advisors LLC

Pineridge Advisors LLC increased its holdings in shares of Deere & Company (NYSE:DE) by 60.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 69 shares of the industrial products company’s stock after buying an additional 26 shares during the period. Pineridge Advisors LLC’s holdings in Deere & Company were worth $29,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of DE. Livelsberger Financial Advisory purchased a new position in Deere & Company during the third quarter worth approximately $32,000. Modus Advisors LLC purchased a new position in shares of Deere & Company during the 4th quarter worth $32,000. YANKCOM Partnership acquired a new position in shares of Deere & Company during the 4th quarter valued at about $34,000. Synergy Asset Management LLC purchased a new stake in shares of Deere & Company in the fourth quarter valued at about $35,000. Finally, Continuum Advisory LLC increased its position in Deere & Company by 155.8% during 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 Ratings Changes

Several analysts have recently weighed in on DE shares. Truist Financial increased their price target on shares of Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Morgan Stanley raised their target price on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. JPMorgan Chase & Co. upped their price target on Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a research note on Monday. Barclays raised their price objective on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Finally, Jefferies Financial Group cut 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. Eleven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Deere & Company has a consensus rating of “Hold” and a consensus target price of $446.17.

Deere & Company Stock Performance

NYSE:DE opened at $470.22 on Tuesday. The business’s fifty day moving average price is $445.00 and its 200 day moving average price is $413.46. The firm has a market capitalization of $128.06 billion, a PE ratio of 18.37, a price-to-earnings-growth ratio of 2.87 and a beta of 0.98. Deere & Company has a 12 month low of $340.20 and a 12 month high of $485.84. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.89 by $0.66. The firm had revenue of $9.28 billion during 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% compared to the same quarter last year. During the same period in the prior year, the company posted $8.26 earnings per share. On average, sell-side analysts anticipate that Deere & Company will post 19.38 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st were 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 1.38%. The ex-dividend date was 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.