Weaver Capital Management LLC Raises Holdings in Deere & Company (NYSE:DE)

Weaver Capital Management LLC lifted its holdings in shares of Deere & Company (NYSE:DE) by 340.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,539 shares of the industrial products company’s stock after buying an additional 1,962 shares during the period. Weaver Capital Management LLC’s holdings in Deere & Company were worth $1,076,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Modus Advisors LLC acquired a new stake in shares of Deere & Company during the fourth quarter worth about $32,000. Livelsberger Financial Advisory acquired a new stake in shares of Deere & Company during the third quarter worth about $32,000. Synergy Asset Management LLC acquired a new stake in shares of Deere & Company during the fourth quarter worth about $35,000. Continuum Advisory LLC boosted its stake in shares of Deere & Company by 155.8% during the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after buying an additional 67 shares during the period. Finally, Darwin Wealth Management LLC acquired a new stake in Deere & Company in the third quarter valued at about $47,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Trading Up 1.2 %

DE stock opened at $472.72 on Wednesday. The company has a market cap of $128.75 billion, a price-to-earnings ratio of 18.47, a PEG ratio of 2.94 and a beta of 0.98. 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 $444.77 and a 200-day simple moving average of $410.83. Deere & Company has a 52 week low of $340.20 and a 52 week high of $485.84.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping analysts’ consensus estimates of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The business had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. During the same period in the prior year, the firm posted $8.26 EPS. The business’s revenue for the quarter was down 32.8% on a year-over-year basis. On average, equities research analysts expect that Deere & Company will post 19.38 EPS for the current year.

Deere & Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.37%. 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%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. UBS Group raised their price objective on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Oppenheimer lifted their price target on shares of Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Barclays lifted their price target on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Morgan Stanley lifted 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. Finally, Citigroup reduced their price target on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a research 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 company’s stock. Based on data from MarketBeat, the stock currently has an average 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.