Pineridge Advisors LLC Increases Stock Position in Deere & Company (NYSE:DE)

Pineridge Advisors LLC boosted its holdings in shares of Deere & Company (NYSE:DE) by 60.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 69 shares of the industrial products company’s stock after buying an additional 26 shares during the quarter. Pineridge Advisors LLC’s holdings in Deere & Company were worth $29,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Arlington Trust Co LLC raised its stake in shares of Deere & Company by 101.2% during the 4th quarter. Arlington Trust Co LLC now owns 497 shares of the industrial products company’s stock worth $211,000 after acquiring an additional 250 shares in the last quarter. Eukles Asset Management increased its position in Deere & Company by 3.2% during the 4th quarter. Eukles Asset Management now owns 2,589 shares of the industrial products company’s stock valued at $1,097,000 after buying an additional 81 shares in the last quarter. Sycomore Asset Management boosted its holdings in Deere & Company by 27.4% in the fourth quarter. Sycomore Asset Management now owns 15,835 shares of the industrial products company’s stock worth $6,516,000 after acquiring an additional 3,410 shares in the last quarter. Regents Gate Capital LLP acquired a new position in shares of Deere & Company during the fourth quarter valued at about $1,834,000. Finally, Soltis Investment Advisors LLC boosted its stake in Deere & Company by 26.7% in the 4th quarter. Soltis Investment Advisors LLC now owns 726 shares of the industrial products company’s stock worth $308,000 after purchasing an additional 153 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Deere & Company stock opened at $470.22 on Tuesday. The stock has a market capitalization of $128.06 billion, a P/E ratio of 18.37, a P/E/G ratio of 2.87 and a beta of 0.98. The company’s fifty day moving average price is $445.00 and its 200 day moving average price is $413.46. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. Deere & Company has a 1 year low of $340.20 and a 1 year high of $485.84.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.89 by $0.66. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The business had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. During the same quarter last year, the business earned $8.26 earnings per share. The company’s revenue for the quarter was down 32.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Deere & Company will post 19.38 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st were paid a dividend of $1.62 per share. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a yield of 1.38%. The ex-dividend date was Tuesday, December 31st. Deere & Company’s payout ratio is 25.31%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports 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 research note on Monday, November 25th. Jefferies Financial Group lowered Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a research report on Friday, December 6th. Citigroup cut their price target on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Oppenheimer upped their price objective on shares of Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Finally, Truist Financial raised their target price on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Deere & Company presently has a consensus rating of “Hold” and a consensus price target of $446.17.

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.