Commonwealth Equity Services LLC Increases Holdings in Deere & Company (NYSE:DE)

Commonwealth Equity Services LLC boosted its holdings in shares of Deere & Company (NYSE:DE) by 0.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 173,667 shares of the industrial products company’s stock after acquiring an additional 693 shares during the quarter. Commonwealth Equity Services LLC owned 0.06% of Deere & Company worth $69,444,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of DE. Briaud Financial Planning Inc bought a new position in shares of Deere & Company during the third quarter valued at approximately $25,000. Rakuten Securities Inc. purchased a new position in Deere & Company during the 4th quarter worth $28,000. Naples Money Management LLC purchased a new stake in shares of Deere & Company during the fourth quarter worth about $29,000. Bfsg LLC acquired a new stake in Deere & Company during the 4th quarter valued at approximately $30,000. Finally, ZRC Wealth Management LLC purchased a new stake in shares of Deere & Company in the 4th quarter valued at $28,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Up 1.2 %

NYSE:DE traded up $4.91 on Friday, reaching $400.87. The stock had a trading volume of 1,626,956 shares, compared to its average volume of 1,472,102. Deere & Company has a 12-month low of $345.55 and a 12-month high of $450.00. The company has a market cap of $111.59 billion, a price-to-earnings ratio of 11.68, a P/E/G ratio of 1.46 and a beta of 1.04. The firm’s fifty day moving average is $390.73 and its two-hundred day moving average is $383.84. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.05 and a quick ratio of 1.81.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, beating analysts’ consensus estimates of $5.19 by $1.04. The firm had revenue of $10.49 billion for the quarter, compared to analysts’ expectations of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter last year, the firm earned $6.55 earnings per share. Equities analysts expect that Deere & Company will post 27.37 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th will be given a $1.47 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $5.88 annualized dividend and a dividend yield of 1.47%. Deere & Company’s payout ratio is 17.12%.

Analyst Ratings Changes

Several analysts recently commented on DE shares. Morgan Stanley began coverage on Deere & Company in a report on Monday, January 8th. They set an “overweight” rating and a $430.00 target price on the stock. Truist Financial initiated coverage on shares of Deere & Company in a report on Thursday, March 14th. They set a “buy” rating and a $494.00 target price for the company. Citigroup lowered their price target on shares of Deere & Company from $450.00 to $435.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Melius Research reiterated a “hold” rating on shares of Deere & Company in a research report on Monday, January 8th. Finally, Stifel Nicolaus reduced their price target on Deere & Company from $435.00 to $425.00 and set a “buy” rating for the company in a report on Friday, February 16th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $433.28.

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.