Parr Mcknight Wealth Management Group LLC Takes $489,000 Position in Deere & Company (NYSE:DE)

Parr Mcknight Wealth Management Group LLC bought a new stake in Deere & Company (NYSE:DE) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 1,154 shares of the industrial products company’s stock, valued at approximately $489,000.

Several other institutional investors also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD boosted its stake in shares of Deere & Company by 19.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company’s stock valued at $2,792,082,000 after purchasing an additional 1,095,736 shares during the period. Capital World Investors boosted its position in Deere & Company by 2.7% during the 4th quarter. Capital World Investors now owns 6,058,259 shares of the industrial products company’s stock valued at $2,566,884,000 after buying an additional 157,224 shares during the period. FMR LLC boosted its position in Deere & Company by 22.9% during the 4th quarter. FMR LLC now owns 5,581,408 shares of the industrial products company’s stock valued at $2,364,843,000 after buying an additional 1,039,395 shares during the period. Geode Capital Management LLC grew its holdings in Deere & Company by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 5,305,571 shares of the industrial products company’s stock worth $2,247,216,000 after acquiring an additional 97,203 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Deere & Company in the fourth quarter valued at about $1,244,094,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Price Performance

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

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, topping the consensus estimate of $5.72 by $0.92. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. The company had revenue of $11.17 billion for the quarter, compared to the consensus estimate of $10.80 billion. During the same quarter in the prior year, the business posted $8.53 EPS. The firm’s quarterly revenue was down 17.9% compared to the same quarter last year. Analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

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

Analysts Set New Price Targets

DE has been the subject of a number of analyst reports. Raymond James increased their target price on shares of Deere & Company from $530.00 to $560.00 and gave the stock an “outperform” rating in a report on Friday, May 16th. Oppenheimer lifted their price objective on Deere & Company from $513.00 to $555.00 and gave the stock an “outperform” rating in a research report on Friday, May 16th. Truist Financial boosted their target price on Deere & Company from $546.00 to $619.00 and gave the company a “buy” rating in a research note on Friday, May 16th. UBS Group dropped their price target on Deere & Company from $462.00 to $440.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Deere & Company from $490.00 to $540.00 and gave the company a “neutral” rating in a report on Friday, May 16th. Thirteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $516.75.

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.