Deere & Company (NYSE:DE) Shares Purchased by Cidel Asset Management Inc.

Cidel Asset Management Inc. grew its holdings in shares of Deere & Company (NYSE:DE) by 3.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,105 shares of the industrial products company’s stock after buying an additional 64 shares during the period. Cidel Asset Management Inc.’s holdings in Deere & Company were worth $892,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of DE. BLB&B Advisors LLC boosted its stake in shares of Deere & Company by 2.2% in the fourth quarter. BLB&B Advisors LLC now owns 27,909 shares of the industrial products company’s stock valued at $11,825,000 after buying an additional 606 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in Deere & Company in the fourth quarter valued at $247,000. Prairie Wealth Advisors Inc. boosted its position in shares of Deere & Company by 3.8% during the 4th quarter. Prairie Wealth Advisors Inc. now owns 964 shares of the industrial products company’s stock worth $410,000 after purchasing an additional 35 shares in the last quarter. Fairvoy Private Wealth LLC acquired a new position in Deere & Company during the fourth quarter worth about $802,000. Finally, Keystone Financial Group Inc. acquired a new position in Deere & Company during the fourth quarter worth about $129,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

Deere & Company stock opened at $465.63 on Friday. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89. The stock has a 50 day moving average of $445.01 and a 200-day moving average of $412.26. The stock has a market cap of $126.82 billion, a P/E ratio of 18.19, a price-to-earnings-growth 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.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping the consensus estimate of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The company had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.20 billion. During the same quarter last year, the firm earned $8.26 EPS. The business’s revenue was down 32.8% on a year-over-year basis. On average, analysts expect that Deere & Company will post 19.38 EPS 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. Shareholders of record on Tuesday, December 31st will be paid a dividend of $1.62 per share. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.48 annualized dividend and a yield of 1.39%. Deere & Company’s payout ratio is presently 25.31%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on DE shares. Barclays boosted their price target on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Morgan Stanley increased their price target on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Citigroup cut their price objective on Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Truist Financial increased their price objective on Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, UBS Group upped 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. Eleven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Deere & Company currently has a consensus rating of “Hold” and an average price target of $444.50.

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.