Duncan Williams Asset Management LLC Increases Stock Position in Deere & Company (NYSE:DE)

Duncan Williams Asset Management LLC raised its holdings in shares of Deere & Company (NYSE:DE) by 43.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,062 shares of the industrial products company’s stock after acquiring an additional 620 shares during the quarter. Duncan Williams Asset Management LLC’s holdings in Deere & Company were worth $874,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Public Sector Pension Investment Board raised its position in shares of Deere & Company by 80.5% during the 2nd quarter. Public Sector Pension Investment Board now owns 9,171 shares of the industrial products company’s stock valued at $3,427,000 after acquiring an additional 4,091 shares in the last quarter. MBB Public Markets I LLC acquired a new position in Deere & Company during the 2nd quarter valued at about $7,010,000. The Manufacturers Life Insurance Company raised its stake in shares of Deere & Company by 5.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 440,028 shares of the industrial products company’s stock worth $164,408,000 after buying an additional 21,955 shares in the last quarter. Lighthouse Investment Partners LLC acquired a new stake in Deere & Company in the 2nd quarter valued at about $237,000. Finally, Scientech Research LLC bought a new stake in Deere & Company during the second quarter worth approximately $799,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Trading Up 0.9 %

Shares of DE stock opened at $478.90 on Friday. The stock has a market cap of $130.43 billion, a price-to-earnings ratio of 18.71, a P/E/G ratio of 2.84 and a beta of 0.98. The firm has a fifty day moving average of $438.55 and a 200-day moving average of $405.66. Deere & Company has a 52-week low of $340.20 and a 52-week high of $479.48. 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 posted its earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping the consensus estimate of $3.89 by $0.66. The business had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. Deere & Company’s revenue was down 32.8% on a year-over-year basis. During the same quarter last year, the company earned $8.26 EPS. On average, equities research analysts forecast that Deere & Company will post 19.34 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.35%. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date is Tuesday, December 31st. Deere & Company’s dividend payout ratio (DPR) is currently 25.31%.

Analysts Set New Price Targets

DE has been the subject of a number of recent analyst reports. Barclays raised their price objective on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Truist Financial lifted their target price on Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. UBS Group increased their price target 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. Morgan Stanley boosted their target price on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Finally, Jefferies Financial Group downgraded shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target on the stock. in a report on Friday, December 6th. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $442.83.

Deere & 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.