Lester Murray Antman dba SimplyRich Increases Stock Position in Deere & Company (NYSE:DE)

Lester Murray Antman dba SimplyRich lifted its stake in Deere & Company (NYSE:DE) by 8.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,024 shares of the industrial products company’s stock after acquiring an additional 82 shares during the quarter. Lester Murray Antman dba SimplyRich’s holdings in Deere & Company were worth $433,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Everence Capital Management Inc. lifted its position in Deere & Company by 148.3% during the fourth quarter. Everence Capital Management Inc. now owns 12,223 shares of the industrial products company’s stock valued at $5,179,000 after purchasing an additional 7,300 shares in the last quarter. Stockbridge Partners LLC raised its stake in shares of Deere & Company by 157.5% in the third quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock worth $369,019,000 after buying an additional 540,874 shares during the period. Compass Financial Services Inc bought a new position in shares of Deere & Company in the fourth quarter worth about $254,000. Toronto Dominion Bank grew its stake in shares of Deere & Company by 1.5% during the 3rd quarter. Toronto Dominion Bank now owns 86,952 shares of the industrial products company’s stock valued at $36,288,000 after acquiring an additional 1,291 shares during the period. Finally, Chase Investment Counsel Corp increased its holdings in Deere & Company by 53.8% in the 3rd quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock worth $1,669,000 after acquiring an additional 1,400 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Truist Financial increased their price objective on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. raised their price target on Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a report on Monday. Citigroup dropped their price objective on Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. UBS Group lifted their target price on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Finally, Oppenheimer upped their price target on Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $446.17.

Deere & Company Trading Up 1.0 %

Shares of NYSE DE opened at $474.79 on Wednesday. Deere & Company has a 1-year low of $340.20 and a 1-year high of $485.84. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. The business’s 50 day moving average is $445.15 and its two-hundred day moving average is $414.08. The stock has a market capitalization of $129.31 billion, a P/E ratio of 18.55, a PEG ratio of 2.87 and a beta of 0.98.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating the consensus estimate of $3.89 by $0.66. The company had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. Deere & Company’s quarterly revenue was down 32.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $8.26 EPS. As a group, research 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. Stockholders of record on Tuesday, December 31st were issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend was Tuesday, December 31st. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. 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.