Ehrlich Financial Group Acquires New Position in Deere & Company (NYSE:DE)

Ehrlich Financial Group bought a new position in shares of Deere & Company (NYSE:DE) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 626 shares of the industrial products company’s stock, valued at approximately $265,000.

Several other large investors have also recently modified their holdings of DE. Fairscale Capital LLC purchased a new position in Deere & Company in the 2nd quarter valued at approximately $26,000. Livelsberger Financial Advisory bought a new position in shares of Deere & Company in the third quarter worth $32,000. Modus Advisors LLC purchased a new position in shares of Deere & Company in the fourth quarter valued at $32,000. Centennial Bank AR raised its stake in shares of 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 purchasing an additional 84 shares during the period. Finally, Continuum Advisory LLC lifted 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 worth $43,000 after purchasing an additional 67 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Up 5.3 %

Shares of DE stock traded up $21.60 during mid-day trading on Monday, hitting $430.17. The company’s stock had a trading volume of 1,961,407 shares, compared to its average volume of 1,245,429. The stock has a market cap of $117.69 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 1.88 and a beta of 0.96. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. Deere & Company has a 52-week low of $340.20 and a 52-week high of $469.39. The business has a 50-day moving average price of $427.99 and a 200 day moving average price of $400.08.

Deere & Company (NYSE:DE) last announced 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 firm had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The business’s revenue for the quarter was down 32.8% on a year-over-year basis. During the same period in the previous year, the business posted $8.26 earnings per share. Research analysts predict that Deere & Company will post 19.41 EPS for the current fiscal year.

Deere & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be issued a $1.62 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.51%. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s payout ratio is presently 22.97%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on DE shares. Jefferies Financial Group cut Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target on the stock. in a research report on Friday, December 6th. JPMorgan Chase & Co. lifted their target price on shares of Deere & Company from $420.00 to $450.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. UBS Group boosted their target price on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Truist Financial boosted their price objective on Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Finally, Barclays upped their target price on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Eleven 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.com, the stock presently has a consensus rating of “Hold” and an average target price of $443.94.

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.