DAVENPORT & Co LLC Buys 1,958 Shares of Deere & Company (NYSE:DE)

DAVENPORT & Co LLC grew its stake in shares of Deere & Company (NYSE:DE) by 9.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 22,022 shares of the industrial products company’s stock after acquiring an additional 1,958 shares during the quarter. DAVENPORT & Co LLC’s holdings in Deere & Company were worth $9,331,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of DE. Tritonpoint Wealth LLC grew its stake in Deere & Company by 25.8% during the fourth quarter. Tritonpoint Wealth LLC now owns 678 shares of the industrial products company’s stock worth $288,000 after buying an additional 139 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Deere & Company by 3.4% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,293 shares of the industrial products company’s stock worth $3,090,000 after acquiring an additional 238 shares in the last quarter. Capital Insight Partners LLC bought a new position in Deere & Company in the fourth quarter valued at approximately $736,000. SeaBridge Investment Advisors LLC raised its position in Deere & Company by 5.4% during the fourth quarter. SeaBridge Investment Advisors LLC now owns 6,004 shares of the industrial products company’s stock valued at $2,544,000 after purchasing an additional 307 shares in the last quarter. Finally, KG&L Capital Management LLC lifted its stake in Deere & Company by 14.2% during the fourth quarter. KG&L Capital Management LLC now owns 8,441 shares of the industrial products company’s stock worth $3,574,000 after purchasing an additional 1,048 shares during the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Trading Down 0.8 %

Shares of DE stock opened at $476.29 on Monday. Deere & Company has a 1-year low of $340.20 and a 1-year high of $485.84. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89. The stock has a market cap of $129.72 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 2.95 and a beta of 0.98. The stock has a 50-day moving average of $444.68 and a 200-day moving average of $410.05.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 13.73% and a return on equity of 31.32%. The company’s revenue for the quarter was down 32.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $8.26 EPS. On average, equities research analysts forecast that Deere & Company will post 19.38 earnings per share for the current year.

Deere & Company Increases Dividend

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on DE shares. Truist Financial boosted their price target on Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Oppenheimer boosted their target price on Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Morgan Stanley raised their price target on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. 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. Finally, Barclays raised 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 given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $444.50.

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.