Deere & Company (NYSE:DE) Shares Bought by Golden State Equity Partners

Golden State Equity Partners grew its holdings in Deere & Company (NYSE:DE) by 270.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 474 shares of the industrial products company’s stock after buying an additional 346 shares during the quarter. Golden State Equity Partners’ holdings in Deere & Company were worth $201,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of DE. Wellington Management Group LLP raised its position in shares of Deere & Company by 32.0% in the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock valued at $3,068,404,000 after buying an additional 1,782,984 shares during the last quarter. FMR LLC raised its position in shares of Deere & Company by 27.8% in the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock valued at $1,895,518,000 after buying an additional 988,380 shares during the last quarter. Pathway Financial Advisers LLC increased its position in Deere & Company by 53,338.6% during the third quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock worth $356,602,000 after purchasing an additional 852,885 shares during the last quarter. International Assets Investment Management LLC increased its position in Deere & Company by 46,892.9% during the third quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company’s stock worth $322,218,000 after purchasing an additional 770,451 shares during the last quarter. Finally, Stockbridge Partners LLC increased its position in Deere & Company by 157.5% during the third quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock worth $369,019,000 after purchasing an additional 540,874 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Trading Up 1.2 %

NYSE DE opened at $472.72 on Wednesday. The firm has a 50 day simple moving average of $444.77 and a 200-day simple moving average of $410.83. 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 $485.84. The firm has a market cap of $128.75 billion, a price-to-earnings ratio of 18.47, a PEG ratio of 2.94 and a beta of 0.98.

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, 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 during the quarter, compared to analyst estimates of $9.20 billion. During the same quarter last year, the firm posted $8.26 earnings per share. The business’s revenue for the quarter was down 32.8% compared to the same quarter last year. Equities research analysts anticipate that Deere & Company will post 19.38 EPS for the current fiscal year.

Deere & Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be paid a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.37%. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s payout ratio is currently 25.31%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on DE shares. Oppenheimer raised their price objective on shares of Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. UBS Group raised their price objective on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research 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 price objective for the company. in a research report on Friday, December 6th. Morgan Stanley raised their price objective on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Finally, Truist Financial increased their target price on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Eleven equities research 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 currently has an average rating of “Hold” and a consensus price target of $444.50.

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.