BLB&B Advisors LLC Grows Stock Position in Deere & Company (NYSE:DE)

BLB&B Advisors LLC boosted its position in shares of Deere & Company (NYSE:DE) by 2.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,909 shares of the industrial products company’s stock after buying an additional 606 shares during the quarter. BLB&B Advisors LLC’s holdings in Deere & Company were worth $11,825,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Wellington Management Group LLP boosted its holdings in Deere & Company by 32.0% during the 3rd 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 acquiring an additional 1,782,984 shares during the period. FMR LLC lifted its position in shares of Deere & Company by 27.8% during the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock worth $1,895,518,000 after purchasing an additional 988,380 shares during the last quarter. Pathway Financial Advisers LLC boosted its stake in shares of 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 valued at $356,602,000 after purchasing an additional 852,885 shares during the period. International Assets Investment Management LLC grew its holdings in shares of Deere & Company by 46,892.9% in 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 stake in Deere & Company by 157.5% in the 3rd quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock worth $369,019,000 after buying an additional 540,874 shares during the period. Institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

DE has been the subject of several research reports. 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. JPMorgan Chase & Co. boosted their price target on Deere & Company from $450.00 to $470.00 and gave the company a “neutral” rating in a report on Wednesday, January 15th. Oppenheimer raised their price objective on Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Barclays upped their target price on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Finally, Truist Financial raised their price target on Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $444.50.

Deere & Company Price Performance

NYSE DE opened at $465.63 on Friday. The firm’s fifty day simple moving average is $445.01 and its two-hundred day simple moving average is $412.26. The firm has a market capitalization of $126.82 billion, a P/E ratio of 18.19, a P/E/G ratio of 2.94 and a beta of 0.98. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89. Deere & Company has a 12-month low of $340.20 and a 12-month high of $485.84.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, topping the consensus estimate of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The firm had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. During the same period in the previous year, the business earned $8.26 EPS. The firm’s revenue for the quarter was down 32.8% on a year-over-year basis. Analysts forecast that Deere & Company will post 19.38 EPS for the current fiscal year.

Deere & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.39%. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio is 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.