Fourth Dimension Wealth LLC Takes Position in Deere & Company (NYSE:DE)

Fourth Dimension Wealth LLC purchased a new stake in shares of Deere & Company (NYSE:DE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 270 shares of the industrial products company’s stock, valued at approximately $114,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pineridge Advisors LLC raised its holdings in shares of Deere & Company by 60.5% during the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 26 shares in the last quarter. YANKCOM Partnership bought a new position in shares of Deere & Company during the 4th quarter valued at $34,000. Orion Capital Management LLC bought a new position in shares of Deere & Company during the 4th quarter valued at $34,000. Synergy Asset Management LLC bought a new position in Deere & Company in the 4th quarter worth $35,000. Finally, Sierra Ocean LLC bought a new position in Deere & Company in the 4th quarter worth $44,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

NYSE:DE opened at $509.83 on Friday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.98 and a current ratio of 2.22. The firm’s 50-day moving average is $472.60 and its 200-day moving average is $458.36. Deere & Company has a 52-week low of $340.20 and a 52-week high of $533.78. The company has a market cap of $138.37 billion, a price-to-earnings ratio of 22.60, a PEG ratio of 2.14 and a beta of 1.08.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, beating the consensus estimate of $5.72 by $0.92. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The business had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. During the same period in the previous year, the business earned $8.53 EPS. The firm’s revenue was down 17.9% on a year-over-year basis. Equities research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 8th. Stockholders of record on Monday, March 31st were given a dividend of $1.62 per share. The ex-dividend date was Monday, March 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.27%. Deere & Company’s dividend payout ratio (DPR) is currently 31.35%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on DE shares. Barclays lifted their target price on shares of Deere & Company from $475.00 to $530.00 and gave the stock an “overweight” rating in a report on Friday, May 16th. The Goldman Sachs Group reiterated a “buy” rating on shares of Deere & Company in a report on Thursday, May 15th. Truist Financial lifted their target price on shares of Deere & Company from $546.00 to $619.00 and gave the stock a “buy” rating in a report on Friday, May 16th. Baird R W downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. Finally, Argus set a $510.00 target price on shares of Deere & Company in a report on Friday, March 7th. Thirteen analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $516.75.

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.