Graypoint LLC Grows Stake in Deere & Company (NYSE:DE)

Graypoint LLC increased its holdings in shares of Deere & Company (NYSE:DE) by 3.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 3,491 shares of the industrial products company’s stock after acquiring an additional 114 shares during the period. Graypoint LLC’s holdings in Deere & Company were worth $1,479,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Fairscale Capital LLC purchased a new position in Deere & Company during the 2nd quarter valued at approximately $26,000. Livelsberger Financial Advisory purchased a new position in Deere & Company during the 3rd quarter valued at approximately $32,000. Modus Advisors LLC purchased a new position in Deere & Company during the 4th quarter valued at approximately $32,000. Centennial Bank AR grew its holdings in Deere & Company by 420.0% during the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after buying an additional 84 shares in the last quarter. Finally, Continuum Advisory LLC grew its holdings in Deere & Company by 155.8% during the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock valued at $43,000 after buying an additional 67 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Down 0.4 %

Shares of NYSE DE opened at $408.45 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 business has a fifty day simple moving average of $427.99 and a two-hundred day simple moving average of $399.70. The firm has a market cap of $110.92 billion, a PE ratio of 15.96, a price-to-earnings-growth ratio of 1.91 and a beta of 0.98. Deere & Company has a twelve month low of $340.20 and a twelve month high of $469.39.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share 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 analyst estimates of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. Deere & Company’s revenue was down 32.8% on a year-over-year basis. During the same period in the previous year, the company posted $8.26 EPS. Analysts expect that Deere & Company will post 19.52 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 dividend on an annualized basis and a yield of 1.59%. Deere & Company’s payout ratio is 25.31%.

Analyst Ratings Changes

DE has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their price target on Deere & Company from $420.00 to $450.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Citigroup lifted their target price on Deere & Company from $460.00 to $470.00 and gave the stock a “neutral” rating in a report on Monday, December 9th. Truist Financial lifted their target price on Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. UBS Group lifted their target price on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, Jefferies Financial Group cut Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price for the company. in a report on Friday, December 6th. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $443.94.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.