Kestra Private Wealth Services LLC Grows Stock Position in Deere & Company (NYSE:DE)

Kestra Private Wealth Services LLC boosted its holdings in Deere & Company (NYSE:DE) by 1.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,976 shares of the industrial products company’s stock after acquiring an additional 130 shares during the period. Kestra Private Wealth Services LLC’s holdings in Deere & Company were worth $3,803,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Sound Income Strategies LLC increased its position in Deere & Company by 28.9% during the 3rd quarter. Sound Income Strategies LLC now owns 687 shares of the industrial products company’s stock worth $287,000 after purchasing an additional 154 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new stake in shares of Deere & Company during the third quarter worth about $177,000. High Net Worth Advisory Group LLC acquired a new position in shares of Deere & Company in the third quarter valued at approximately $217,000. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Deere & Company by 75.6% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 971 shares of the industrial products company’s stock valued at $405,000 after buying an additional 418 shares during the period. Finally, ORG Wealth Partners LLC acquired a new stake in Deere & Company during the third quarter worth approximately $55,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Truist Financial boosted their price target on Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Oppenheimer upped their target price on Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Barclays raised their price target on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Jefferies Financial Group downgraded 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 note on Friday, December 6th. Finally, Citigroup decreased their target price on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Eleven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $446.17.

Deere & Company Trading Up 1.0 %

NYSE:DE opened at $470.22 on Tuesday. The business’s 50-day moving average is $445.00 and its two-hundred day moving average is $413.46. The firm has a market capitalization of $128.06 billion, a PE ratio of 18.37, a price-to-earnings-growth ratio of 2.87 and a beta of 0.98. Deere & Company has a 12 month low of $340.20 and a 12 month high of $485.84. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90.

Deere & Company (NYSE:DE) last announced its earnings results 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. The business had revenue of $9.28 billion for 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%. The company’s revenue was down 32.8% on a year-over-year basis. During the same period last year, the business posted $8.26 EPS. Research analysts predict that Deere & Company will post 19.38 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st were paid a $1.62 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a dividend yield of 1.38%. 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.