Cigna Investments Inc. New Has $1.10 Million Position in Deere & Company (NYSE:DE)

Cigna Investments Inc. New lowered its stake in shares of Deere & Company (NYSE:DE) by 0.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,599 shares of the industrial products company’s stock after selling 23 shares during the quarter. Cigna Investments Inc. New’s holdings in Deere & Company were worth $1,101,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Pineridge Advisors LLC grew its position in Deere & Company by 60.5% during the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after buying an additional 26 shares in the last quarter. Livelsberger Financial Advisory acquired a new stake in Deere & Company during the third quarter worth approximately $32,000. Modus Advisors LLC acquired a new stake in Deere & Company during the fourth quarter worth approximately $32,000. YANKCOM Partnership bought a new stake in Deere & Company during the fourth quarter worth $34,000. Finally, Synergy Asset Management LLC bought a new stake in Deere & Company during the fourth quarter worth $35,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Price Performance

Deere & Company stock opened at $470.22 on Tuesday. Deere & Company has a 52 week low of $340.20 and a 52 week high of $485.84. The company’s 50 day moving average price is $445.00 and its two-hundred day moving average price is $413.46. 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 cap of $128.06 billion, a P/E ratio of 18.37, a P/E/G ratio of 2.87 and a beta of 0.98.

Deere & Company (NYSE:DE) last posted its quarterly earnings results 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. The company had revenue of $9.28 billion for 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%. Deere & Company’s revenue was down 32.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $8.26 EPS. On average, equities analysts predict that Deere & Company will post 19.38 earnings per share for the current year.

Deere & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Tuesday, December 31st were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.38%. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend was Tuesday, December 31st. Deere & Company’s payout ratio is currently 25.31%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on DE shares. Morgan Stanley upped their target price on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Oppenheimer upped their target price on Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Citigroup cut their target price on Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. UBS Group upped their target price on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Finally, Barclays increased their price target on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Eleven investment 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, the company currently has a consensus rating of “Hold” and an average target price of $446.17.

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.