Stonegate Investment Group LLC Acquires 1,291 Shares of Deere & Company (NYSE:DE)

Stonegate Investment Group LLC boosted its holdings in shares of Deere & Company (NYSE:DE) by 1.1% during the fourth quarter, HoldingsChannel reports. The fund owned 115,333 shares of the industrial products company’s stock after purchasing an additional 1,291 shares during the quarter. Stonegate Investment Group LLC’s holdings in Deere & Company were worth $48,867,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Perigon Wealth Management LLC lifted its position in shares of Deere & Company by 2.8% in the 4th quarter. Perigon Wealth Management LLC now owns 18,674 shares of the industrial products company’s stock worth $8,200,000 after purchasing an additional 515 shares during the period. Patrick M Sweeney & Associates Inc. lifted its position in shares of Deere & Company by 1.2% in the 4th quarter. Patrick M Sweeney & Associates Inc. now owns 2,115 shares of the industrial products company’s stock worth $896,000 after purchasing an additional 25 shares during the period. BankPlus Wealth Management LLC acquired a new position in shares of Deere & Company in the 4th quarter worth approximately $311,000. Nilsine Partners LLC lifted its position in shares of Deere & Company by 11.4% in the 4th quarter. Nilsine Partners LLC now owns 5,225 shares of the industrial products company’s stock worth $2,214,000 after purchasing an additional 536 shares during the period. Finally, Berkshire Bank lifted its position in shares of Deere & Company by 1.2% in the 4th quarter. Berkshire Bank now owns 3,489 shares of the industrial products company’s stock worth $1,478,000 after purchasing an additional 40 shares during the period. 68.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

DE has been the topic of a number of recent analyst reports. 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, January 14th. Jefferies Financial Group downgraded shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a research report on Friday, December 6th. Morgan Stanley boosted their target price on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. JPMorgan Chase & Co. boosted their target price on shares of Deere & Company from $450.00 to $470.00 and gave the company a “neutral” rating in a research report on Wednesday, January 15th. Finally, Barclays boosted their target price on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $442.83.

Deere & Company Stock Performance

NYSE DE opened at $484.08 on Tuesday. The firm has a market cap of $131.84 billion, a price-to-earnings ratio of 18.91, a PEG ratio of 2.84 and a beta of 0.98. The company has a fifty day moving average price of $438.55 and a 200-day moving average price of $406.44. 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 has a 1 year low of $340.20 and a 1 year high of $484.39.

Deere & Company (NYSE:DE) last posted its quarterly 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. 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%. The firm’s revenue for the quarter was down 32.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $8.26 earnings per share. As a group, equities research analysts predict that Deere & Company will post 19.34 EPS 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. Investors of record on Tuesday, December 31st will be given a dividend of $1.62 per share. The ex-dividend date is Tuesday, December 31st. This represents a $6.48 annualized dividend and a yield of 1.34%. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio is presently 25.31%.

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.