Pathway Financial Advisors LLC Raises Stake in Deere & Company (NYSE:DE)

Pathway Financial Advisors LLC increased its holdings in shares of Deere & Company (NYSE:DE) by 26.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,406 shares of the industrial products company’s stock after acquiring an additional 500 shares during the period. Pathway Financial Advisors LLC’s holdings in Deere & Company were worth $1,019,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of DE. Pinnacle Wealth Management Advisory Group LLC grew its position in Deere & Company by 26.4% during the 4th quarter. Pinnacle Wealth Management Advisory Group LLC now owns 2,501 shares of the industrial products company’s stock valued at $1,060,000 after purchasing an additional 523 shares during the last quarter. Valmark Advisers Inc. lifted its stake in shares of Deere & Company by 1.8% in the fourth quarter. Valmark Advisers Inc. now owns 2,642 shares of the industrial products company’s stock worth $1,120,000 after buying an additional 46 shares in the last quarter. Csenge Advisory Group grew its holdings in shares of Deere & Company by 5.4% during the fourth quarter. Csenge Advisory Group now owns 2,580 shares of the industrial products company’s stock valued at $1,093,000 after buying an additional 132 shares during the last quarter. J.P. Marvel Investment Advisors LLC increased its position in shares of Deere & Company by 2.7% during the fourth quarter. J.P. Marvel Investment Advisors LLC now owns 27,784 shares of the industrial products company’s stock valued at $11,772,000 after acquiring an additional 740 shares in the last quarter. Finally, Secured Retirement Advisors LLC bought a new stake in shares of Deere & Company during the fourth quarter valued at approximately $1,094,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of DE opened at $480.17 on Monday. The business has a 50-day simple moving average of $446.95 and a two-hundred day simple moving average of $416.52. 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 has a 52 week low of $340.20 and a 52 week high of $485.84. The stock has a market cap of $130.77 billion, a price-to-earnings ratio of 18.76, a PEG ratio of 2.87 and a beta of 0.98.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.14 by $0.05. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. On average, analysts expect that Deere & Company will post 19.38 EPS for the current year.

Deere & Company Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Tuesday, December 31st were 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 was Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.35%. Deere & Company’s payout ratio is 25.31%.

Analyst Upgrades and Downgrades

Several analysts have commented on DE shares. Morgan Stanley increased their target price on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Truist Financial reiterated a “buy” rating and issued a $546.00 price objective (down from $550.00) on shares of Deere & Company in a report on Friday. UBS Group boosted their target price on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Citigroup lifted their price target on shares of Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Oppenheimer increased their price objective on shares of Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Deere & Company has a consensus rating of “Hold” and an average price target of $450.12.

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.