860 Shares in Deere & Company (NYSE:DE) Bought by Carderock Capital Management Inc.

Carderock Capital Management Inc. bought a new stake in Deere & Company (NYSE:DE) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 860 shares of the industrial products company’s stock, valued at approximately $364,000.

Other hedge funds have also made changes to their positions in the company. Fairscale Capital LLC purchased a new position in shares of Deere & Company during the 2nd quarter worth approximately $26,000. Livelsberger Financial Advisory purchased a new position in Deere & Company during the third quarter worth $32,000. Modus Advisors LLC acquired a new position in shares of Deere & Company in the fourth quarter worth $32,000. Centennial Bank AR lifted its position in shares of Deere & Company by 420.0% in the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 84 shares in the last quarter. Finally, Continuum Advisory LLC lifted its position in shares of Deere & Company by 155.8% in the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 67 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Up 4.0 %

NYSE DE opened at $456.57 on Friday. The firm has a market capitalization of $124.00 billion, a price-to-earnings ratio of 17.83, a PEG ratio of 1.74 and a beta of 0.98. 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 one year low of $340.20 and a one year high of $469.39. The company’s 50 day moving average price is $430.22 and its 200 day moving average price is $401.33.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share 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 for the quarter, compared to analyst estimates of $9.20 billion. During the same quarter in the previous year, the business posted $8.26 EPS. The business’s quarterly revenue was down 32.8% on a year-over-year basis. On average, sell-side analysts predict that Deere & Company will post 19.57 EPS for the current year.

Deere & Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be given a $1.62 dividend. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.42%. Deere & Company’s dividend payout ratio is presently 25.31%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Truist Financial boosted their target price on shares of Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. UBS Group upped their price objective on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Citigroup lowered their target price 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. Morgan Stanley boosted their price target on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Finally, JPMorgan Chase & Co. raised their price objective on Deere & Company from $450.00 to $470.00 and gave the stock a “neutral” rating in a report on Wednesday. Eleven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Deere & Company has a consensus rating of “Hold” and a consensus target price of $442.83.

Deere & 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.