Segment Wealth Management LLC Boosts Stock Position in Deere & Company (NYSE:DE)

Segment Wealth Management LLC boosted its stake in shares of Deere & Company (NYSE:DE) by 9.3% in the fourth quarter, Holdings Channel reports. The fund owned 2,355 shares of the industrial products company’s stock after purchasing an additional 200 shares during the period. Segment Wealth Management LLC’s holdings in Deere & Company were worth $998,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Fairscale Capital LLC purchased a new stake in shares of Deere & Company during the 2nd quarter worth $26,000. Modus Advisors LLC acquired a new stake in shares of Deere & Company in the fourth quarter valued at about $32,000. Livelsberger Financial Advisory purchased a new stake in Deere & Company during the third quarter worth about $32,000. Centennial Bank AR grew its position in Deere & Company by 420.0% during 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 period. Finally, Continuum Advisory LLC increased its holdings in 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 buying an additional 67 shares in the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Price Performance

Shares of NYSE:DE opened at $456.57 on Tuesday. The company has a market cap of $124.35 billion, a P/E ratio of 17.83, a P/E/G ratio of 2.81 and a beta of 0.98. The business has a fifty day simple moving average of $431.48 and a 200-day simple moving average of $402.53. Deere & Company has a 52 week low of $340.20 and a 52 week high of $469.39. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, beating the consensus estimate of $3.89 by $0.66. The company had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The firm’s revenue was down 32.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $8.26 EPS. Equities research analysts forecast that Deere & Company will post 19.34 EPS for the current year.

Deere & Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be given a dividend of $1.62 per share. This is a positive change 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 yield of 1.42%. Deere & Company’s dividend payout ratio is 25.31%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on DE. Morgan Stanley upped their price target on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. JPMorgan Chase & Co. upped their target price on Deere & Company from $450.00 to $470.00 and gave the company a “neutral” rating in a report on Wednesday, January 15th. Barclays lifted their price target on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. UBS Group increased 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. Finally, Jefferies Financial Group cut shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price for the company. in a research report on Friday, December 6th. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Deere & Company presently has a consensus rating of “Hold” and an average price target of $442.83.

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.