Kathmere Capital Management LLC Boosts Stake in Deere & Company (NYSE:DE)

Kathmere Capital Management LLC raised its position in Deere & Company (NYSE:DE) by 8.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,084 shares of the industrial products company’s stock after purchasing an additional 88 shares during the quarter. Kathmere Capital Management LLC’s holdings in Deere & Company were worth $459,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of DE. Allen Mooney & Barnes Investment Advisors LLC boosted its holdings in Deere & Company by 0.7% in the fourth quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 33,929 shares of the industrial products company’s stock valued at $14,376,000 after purchasing an additional 238 shares during the last quarter. Fifth Third Wealth Advisors LLC increased its stake in Deere & Company by 36.6% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 9,877 shares of the industrial products company’s stock valued at $4,185,000 after purchasing an additional 2,649 shares during the last quarter. CCLA Investment Management grew its position in shares of Deere & Company by 11.2% during the 4th quarter. CCLA Investment Management now owns 213,714 shares of the industrial products company’s stock valued at $90,542,000 after buying an additional 21,494 shares during the last quarter. Floyd Financial Group LLC bought a new position in shares of Deere & Company during the fourth quarter valued at approximately $235,000. Finally, Pines Wealth Management LLC acquired a new stake in Deere & Company in the fourth quarter worth $218,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Down 0.8 %

Shares of DE opened at $428.84 on Thursday. The company has a market capitalization of $116.80 billion, a P/E ratio of 16.75, a PEG ratio of 1.88 and a beta of 0.98. Deere & Company has a one year low of $340.20 and a one year high of $469.39. The business’s 50 day simple moving average is $429.20 and its 200-day simple moving average is $400.87. 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 posted its quarterly earnings data 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. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The company 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 firm earned $8.26 earnings per share. The business’s revenue was down 32.8% on a year-over-year basis. As a group, sell-side analysts predict that Deere & Company will post 19.41 EPS for the current fiscal year.

Deere & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.51%. The ex-dividend date is Tuesday, December 31st. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio (DPR) is presently 25.31%.

Analyst Ratings Changes

A number of research analysts have issued reports on DE shares. JPMorgan Chase & Co. boosted their price target on Deere & Company from $450.00 to $470.00 and gave the stock a “neutral” rating in a research report on Wednesday. Jefferies Financial Group cut Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price for the company. in a research note on Friday, December 6th. Citigroup dropped their price target on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a research report on Tuesday. Oppenheimer raised their price objective on shares of Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Finally, Truist Financial boosted their target price on Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $442.83.

About Deere & Company

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.