Wilkinson Global Asset Management LLC Raises Holdings in Deere & Company (NYSE:DE)

Wilkinson Global Asset Management LLC raised its position in Deere & Company (NYSE:DE) by 5.1% during the fourth quarter, HoldingsChannel reports. The firm owned 134,947 shares of the industrial products company’s stock after purchasing an additional 6,545 shares during the period. Deere & Company comprises 3.5% of Wilkinson Global Asset Management LLC’s holdings, making the stock its 11th biggest position. Wilkinson Global Asset Management LLC’s holdings in Deere & Company were worth $57,177,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Convergence Investment Partners LLC lifted its position in Deere & Company by 9.2% during the fourth quarter. Convergence Investment Partners LLC now owns 619 shares of the industrial products company’s stock worth $262,000 after buying an additional 52 shares in the last quarter. Allied Investment Advisors LLC increased its stake in shares of Deere & Company by 0.8% in the 4th quarter. Allied Investment Advisors LLC now owns 26,348 shares of the industrial products company’s stock worth $11,164,000 after acquiring an additional 217 shares during the last quarter. Bank of Jackson Hole Trust purchased a new position in shares of Deere & Company during the 4th quarter worth $550,000. New York State Common Retirement Fund boosted its position in shares of Deere & Company by 1.2% during the 4th quarter. New York State Common Retirement Fund now owns 383,748 shares of the industrial products company’s stock valued at $162,594,000 after acquiring an additional 4,531 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund grew its holdings in shares of Deere & Company by 78.7% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 13,558 shares of the industrial products company’s stock valued at $5,745,000 after purchasing an additional 5,970 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Trading Up 4.4 %

NYSE DE opened at $501.40 on Wednesday. Deere & Company has a 52 week low of $340.20 and a 52 week high of $502.10. The firm has a 50 day moving average of $448.71 and a two-hundred day moving average of $418.73. 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 market capitalization of $136.56 billion, a PE ratio of 19.59, a price-to-earnings-growth ratio of 2.87 and a beta of 0.98.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, topping analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. As a group, research analysts expect that Deere & Company will post 19.38 EPS for the current fiscal year.

Deere & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Tuesday, December 31st were given a $1.62 dividend. The ex-dividend date was Tuesday, December 31st. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 dividend on an annualized basis and a yield of 1.29%. Deere & Company’s payout ratio is 28.72%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. UBS Group boosted their target price on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. upped their price objective on Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Barclays increased 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. Oppenheimer lifted their target price on Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Finally, Jefferies Financial Group cut 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. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $450.12.

About Deere & Company

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.