Crews Bank & Trust Invests $1.54 Million in Deere & Company (NYSE:DE)

Crews Bank & Trust acquired a new stake in shares of Deere & Company (NYSE:DE) during the fourth quarter, Holdings Channel reports. The firm acquired 3,623 shares of the industrial products company’s stock, valued at approximately $1,535,000.

A number of other hedge funds have also made changes to their positions in the stock. Livelsberger Financial Advisory bought a new position in shares of Deere & Company during the 3rd quarter valued at about $32,000. Modus Advisors LLC acquired a new stake in Deere & Company during the fourth quarter valued at approximately $32,000. Synergy Asset Management LLC bought a new stake in Deere & Company during the fourth quarter worth approximately $35,000. Centennial Bank AR grew its position in Deere & Company by 420.0% in the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after buying an additional 84 shares during the last quarter. Finally, Continuum Advisory LLC grew its position in Deere & Company by 155.8% in 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 last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Down 0.3 %

Shares of Deere & Company stock opened at $478.50 on Thursday. The firm has a market cap of $130.32 billion, a price-to-earnings ratio of 18.69, a P/E/G ratio of 2.84 and a beta of 0.98. The stock has a 50-day simple moving average of $441.75 and a 200-day simple moving average of $408.11. Deere & Company has a 52-week low of $340.20 and a 52-week high of $485.84. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.89 by $0.66. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The business had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.20 billion. During the same quarter in the previous year, the business earned $8.26 EPS. Deere & Company’s quarterly revenue was down 32.8% compared to the same quarter last year. On average, equities research analysts expect that Deere & Company will post 19.34 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.35%. The ex-dividend date is Tuesday, December 31st. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio (DPR) is 25.31%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on DE shares. Truist Financial raised their price objective on Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. UBS Group lifted their price target on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Citigroup reduced their price objective on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. JPMorgan Chase & Co. lifted their target price on shares of Deere & Company from $450.00 to $470.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 15th. Finally, Oppenheimer boosted their price target on shares of Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a report on Tuesday. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus 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.