Stablepoint Partners LLC Raises Holdings in Deere & Company (NYSE:DE)

Stablepoint Partners LLC lifted its stake in Deere & Company (NYSE:DE) by 3.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,092 shares of the industrial products company’s stock after purchasing an additional 206 shares during the quarter. Stablepoint Partners LLC’s holdings in Deere & Company were worth $2,581,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Livelsberger Financial Advisory purchased a new position in shares of Deere & Company in the third quarter worth $32,000. Modus Advisors LLC purchased a new position in Deere & Company in the 4th quarter worth $32,000. Centennial Bank AR raised its stake in Deere & Company by 420.0% in the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 84 shares during the last quarter. Continuum Advisory LLC lifted its position 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 acquiring an additional 67 shares during the period. Finally, Darwin Wealth Management LLC purchased a new stake in Deere & Company during the 3rd quarter valued at about $47,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Up 0.9 %

Shares of NYSE DE opened at $478.90 on Friday. The company has a market capitalization of $130.43 billion, a P/E ratio of 18.71, a P/E/G ratio of 2.84 and a beta of 0.98. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. The company has a 50 day simple moving average of $438.55 and a 200-day simple moving average of $405.66. Deere & Company has a 1 year low of $340.20 and a 1 year high of $479.48.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, topping the consensus estimate of $3.89 by $0.66. The company 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%. Deere & Company’s revenue was down 32.8% compared to the same quarter last year. During the same quarter last year, the firm posted $8.26 earnings per share. On average, equities research analysts predict that Deere & Company will post 19.34 earnings per share for the current year.

Deere & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.35%. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio is currently 25.31%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Morgan Stanley lifted their target price on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. 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 report on Friday, November 22nd. 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 report on Friday, December 6th. Citigroup lowered their price target on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Finally, Barclays lifted their price objective on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. 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, Deere & Company has a consensus rating of “Hold” and a consensus price target 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.