Sierra Ocean LLC Acquires New Position in Deere & Company (NYSE:DE)

Sierra Ocean LLC bought a new stake in shares of Deere & Company (NYSE:DE) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 102 shares of the industrial products company’s stock, valued at approximately $44,000.

Several other hedge funds have also recently added to or reduced their stakes in DE. Pineridge Advisors LLC lifted its position in Deere & Company by 60.5% during the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after buying an additional 26 shares in the last quarter. Modus Advisors LLC acquired a new stake in Deere & Company in the fourth quarter valued at $32,000. Livelsberger Financial Advisory acquired a new stake in Deere & Company in the third quarter valued at $32,000. YANKCOM Partnership acquired a new stake in Deere & Company in the fourth quarter valued at $34,000. Finally, Synergy Asset Management LLC bought a new stake in Deere & Company during the fourth quarter valued at $35,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on DE shares. Citigroup upped their price target on shares of Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a research report on Friday. Truist Financial reissued a “buy” rating and issued a $546.00 price target (down from $550.00) on shares of Deere & Company in a report on Friday. Jefferies Financial Group downgraded shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target for the company. in a report on Friday, December 6th. Barclays upped their price objective on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Finally, Oppenheimer upped their price objective on shares of Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Deere & Company currently has a consensus rating of “Hold” and a consensus price target of $450.12.

Deere & Company Price Performance

Shares of DE opened at $480.17 on Tuesday. The company has a market capitalization of $130.77 billion, a price-to-earnings ratio of 18.76, a price-to-earnings-growth ratio of 2.87 and a beta of 0.98. The business has a 50-day moving average of $446.95 and a 200-day moving average of $416.83. 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 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, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, topping analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. As a group, equities research analysts anticipate that Deere & Company will post 19.38 earnings per share for the current year.

Deere & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st were given a $1.62 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $6.48 annualized dividend and a yield of 1.35%. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s payout ratio is currently 25.31%.

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.