Pines Wealth Management LLC Invests $218,000 in Deere & Company (NYSE:DE)

Pines Wealth Management LLC bought a new stake in Deere & Company (NYSE:DE) during the fourth quarter, HoldingsChannel reports. The fund bought 533 shares of the industrial products company’s stock, valued at approximately $218,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of DE. Everence Capital Management Inc. boosted its holdings in shares of Deere & Company by 148.3% in the 4th quarter. Everence Capital Management Inc. now owns 12,223 shares of the industrial products company’s stock valued at $5,179,000 after acquiring an additional 7,300 shares during the last quarter. Stockbridge Partners LLC boosted its holdings in Deere & Company by 157.5% in the third quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock valued at $369,019,000 after purchasing an additional 540,874 shares during the last quarter. Toronto Dominion Bank grew its position in Deere & Company by 1.5% during the 3rd quarter. Toronto Dominion Bank now owns 86,952 shares of the industrial products company’s stock worth $36,288,000 after purchasing an additional 1,291 shares during the period. Chase Investment Counsel Corp raised its stake in shares of Deere & Company by 53.8% during the 3rd quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock valued at $1,669,000 after buying an additional 1,400 shares during the last quarter. Finally, Czech National Bank raised its stake in shares of Deere & Company by 5.7% during the 4th quarter. Czech National Bank now owns 55,170 shares of the industrial products company’s stock valued at $23,376,000 after buying an additional 2,964 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Morgan Stanley raised their target price on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Citigroup dropped their price objective on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a research note on Tuesday. Barclays boosted their target price on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. UBS Group raised their price target on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Deere & Company from $450.00 to $470.00 and gave the stock a “neutral” rating in a research report on Wednesday. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Deere & Company presently has an average rating of “Hold” and an average target price of $442.83.

Deere & Company Price Performance

Deere & Company stock opened at $428.84 on Thursday. The firm has a market capitalization of $116.80 billion, a price-to-earnings ratio of 16.75, a PEG ratio of 1.88 and a beta of 0.98. Deere & Company has a 52-week low of $340.20 and a 52-week high of $469.39. The company has a fifty day simple moving average of $429.20 and a 200-day simple moving average of $400.87. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, topping analysts’ consensus estimates of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The company had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. During the same quarter in the previous year, the company posted $8.26 earnings per share. The firm’s revenue for the quarter was down 32.8% compared to the same quarter last year. On average, equities analysts anticipate that Deere & Company will post 19.41 EPS for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $1.62 per share. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date is Tuesday, December 31st. This represents a $6.48 annualized dividend and a yield of 1.51%. Deere & Company’s dividend payout ratio (DPR) is 25.31%.

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.