Hemington Wealth Management Increases Position in Deere & Company (NYSE:DE)

Hemington Wealth Management increased its stake in Deere & Company (NYSE:DE) by 7.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 438 shares of the industrial products company’s stock after acquiring an additional 30 shares during the period. Hemington Wealth Management’s holdings in Deere & Company were worth $185,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pineridge Advisors LLC boosted its position in Deere & Company by 60.5% during the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after buying an additional 26 shares during the period. Livelsberger Financial Advisory purchased a new stake in Deere & Company during the third quarter valued at about $32,000. Modus Advisors LLC purchased a new stake in Deere & Company during the fourth quarter valued at about $32,000. YANKCOM Partnership purchased a new stake in Deere & Company during the fourth quarter valued at about $34,000. Finally, Synergy Asset Management LLC purchased a new stake in Deere & Company during the fourth quarter valued at about $35,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on DE shares. JPMorgan Chase & Co. upped their price target on shares of Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a research report on Monday. Oppenheimer upped their price target on shares of Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Citigroup dropped their target price on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Barclays increased their target price on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Finally, UBS Group increased their target price on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Eleven 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, the company has a consensus rating of “Hold” and a consensus price target of $446.17.

Deere & Company Price Performance

DE stock opened at $476.53 on Thursday. The firm has a 50 day moving average price of $445.46 and a 200-day moving average price of $414.70. Deere & Company has a 52-week low of $340.20 and a 52-week high of $485.84. The firm has a market capitalization of $129.78 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 2.87 and a beta of 0.98. 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 (NYSE:DE) last released its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (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 firm had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.20 billion. During the same period last year, the business earned $8.26 earnings per share. The business’s revenue was down 32.8% on a year-over-year basis. Equities research analysts forecast that Deere & Company will post 19.38 EPS for the current fiscal year.

Deere & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Tuesday, December 31st were issued a $1.62 dividend. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend was Tuesday, December 31st. Deere & Company’s payout ratio is presently 25.31%.

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.