Deere & Company (NYSE:DE) Shares Acquired by Onyx Bridge Wealth Group LLC

Onyx Bridge Wealth Group LLC raised its stake in shares of Deere & Company (NYSE:DE) by 4.2% during the fourth quarter, HoldingsChannel reports. The firm owned 961 shares of the industrial products company’s stock after purchasing an additional 39 shares during the quarter. Onyx Bridge Wealth Group LLC’s holdings in Deere & Company were worth $407,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. Everence Capital Management Inc. increased its stake in shares of Deere & Company by 148.3% in the fourth quarter. Everence Capital Management Inc. now owns 12,223 shares of the industrial products company’s stock worth $5,179,000 after acquiring an additional 7,300 shares during the period. Stockbridge Partners LLC increased its stake in shares of Deere & Company by 157.5% in the third quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock worth $369,019,000 after acquiring an additional 540,874 shares during the period. Toronto Dominion Bank increased its stake in shares of Deere & Company by 1.5% in the third quarter. Toronto Dominion Bank now owns 86,952 shares of the industrial products company’s stock worth $36,288,000 after acquiring an additional 1,291 shares during the period. Chase Investment Counsel Corp increased its stake in shares of Deere & Company by 53.8% in the third quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock worth $1,669,000 after acquiring an additional 1,400 shares during the period. Finally, Czech National Bank increased its stake in shares of Deere & Company by 5.7% in the fourth quarter. Czech National Bank now owns 55,170 shares of the industrial products company’s stock worth $23,376,000 after acquiring an additional 2,964 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on DE shares. Jefferies Financial Group lowered 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. Truist Financial increased their price target on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Morgan Stanley increased their price target on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. UBS Group increased their price target on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, Citigroup lowered their price target on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Eleven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $444.50.

Deere & Company Stock Performance

DE opened at $464.69 on Friday. 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 company has a market cap of $126.56 billion, a price-to-earnings ratio of 18.15, a PEG ratio of 2.94 and a beta of 0.98. Deere & Company has a 52-week low of $340.20 and a 52-week high of $485.84. The firm’s fifty day simple moving average is $445.03 and its two-hundred day simple moving average is $411.89.

Deere & Company (NYSE:DE) last issued 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. The business had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The company’s quarterly revenue was down 32.8% compared to the same quarter last year. During the same period in the prior year, the business earned $8.26 earnings per share. Equities analysts anticipate that Deere & Company will post 19.38 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.39%. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend is Tuesday, December 31st. Deere & Company’s dividend payout ratio is 25.31%.

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.