Wedge Capital Management L L P NC acquired a new position in shares of Deere & Company (NYSE:DE – Get Rating) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 510 shares of the industrial products company’s stock, valued at approximately $219,000.
A number of other institutional investors have also added to or reduced their stakes in the stock. TCI Wealth Advisors Inc. boosted its position in shares of Deere & Company by 1.5% in the third quarter. TCI Wealth Advisors Inc. now owns 1,694 shares of the industrial products company’s stock valued at $566,000 after acquiring an additional 25 shares during the period. FSM Wealth Advisors LLC boosted its position in shares of Deere & Company by 2.3% in the third quarter. FSM Wealth Advisors LLC now owns 1,290 shares of the industrial products company’s stock valued at $431,000 after acquiring an additional 29 shares during the period. Abbrea Capital LLC boosted its position in shares of Deere & Company by 3.1% in the third quarter. Abbrea Capital LLC now owns 998 shares of the industrial products company’s stock valued at $334,000 after acquiring an additional 30 shares during the period. JNBA Financial Advisors raised its stake in Deere & Company by 1.3% in the third quarter. JNBA Financial Advisors now owns 2,367 shares of the industrial products company’s stock valued at $790,000 after purchasing an additional 30 shares in the last quarter. Finally, MidWestOne Financial Group Inc. raised its stake in Deere & Company by 0.3% in the third quarter. MidWestOne Financial Group Inc. now owns 8,973 shares of the industrial products company’s stock valued at $2,996,000 after purchasing an additional 30 shares in the last quarter. 75.72% of the stock is currently owned by institutional investors and hedge funds.
Deere & Company Stock Performance
NYSE:DE opened at $386.50 on Friday. The stock has a market cap of $114.53 billion, a P/E ratio of 14.34, a price-to-earnings-growth ratio of 1.05 and a beta of 1.05. The firm’s fifty day simple moving average is $413.49 and its 200 day simple moving average is $404.22. Deere & Company has a twelve month low of $283.81 and a twelve month high of $448.40. The company has a quick ratio of 1.76, a current ratio of 2.07 and a debt-to-equity ratio of 1.64.
Deere & Company (NYSE:DE – Get Rating) last announced its earnings results on Friday, February 17th. The industrial products company reported $6.55 EPS for the quarter, beating analysts’ consensus estimates of $5.53 by $1.02. Deere & Company had a net margin of 14.71% and a return on equity of 41.17%. The firm had revenue of $11.40 billion for the quarter, compared to analysts’ expectations of $11.14 billion. During the same quarter in the previous year, the business posted $2.92 EPS. The company’s quarterly revenue was up 33.7% on a year-over-year basis. As a group, research analysts predict that Deere & Company will post 30.58 EPS for the current year.
Deere & Company Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, May 8th. Stockholders of record on Friday, March 31st will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend is Thursday, March 30th. This is a boost from Deere & Company’s previous quarterly dividend of $1.20. Deere & Company’s payout ratio is 17.80%.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on the stock. Sanford C. Bernstein raised their target price on shares of Deere & Company from $364.00 to $398.00 and gave the company a “market perform” rating in a research note on Tuesday, February 21st. Robert W. Baird raised their target price on shares of Deere & Company from $470.00 to $512.00 and gave the company an “outperform” rating in a research note on Friday, February 17th. Citigroup raised their target price on shares of Deere & Company from $425.00 to $505.00 and gave the company a “buy” rating in a research note on Thursday, December 1st. StockNews.com began coverage on shares of Deere & Company in a research note on Thursday, March 16th. They set a “buy” rating on the stock. Finally, Bank of America lifted their price target on shares of Deere & Company from $478.00 to $484.00 in a research note on Monday, February 20th. Eight analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Deere & Company presently has an average rating of “Moderate Buy” and a consensus target price of $460.81.
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.
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