Wetzel Investment Advisors Inc. Invests $90,000 in Deere & Company (NYSE:DE)

Wetzel Investment Advisors Inc. purchased a new position in Deere & Company (NYSE:DE) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 225 shares of the industrial products company’s stock, valued at approximately $90,000.

A number of other institutional investors have also recently made changes to their positions in DE. Morgan Stanley lifted its position in Deere & Company by 1.3% during the third quarter. Morgan Stanley now owns 5,089,159 shares of the industrial products company’s stock worth $1,920,548,000 after buying an additional 65,006 shares in the last quarter. FMR LLC raised its position in Deere & Company by 6.6% in the third quarter. FMR LLC now owns 4,374,282 shares of the industrial products company’s stock valued at $1,650,767,000 after purchasing an additional 269,571 shares during the period. Moneta Group Investment Advisors LLC raised its position in Deere & Company by 104,373.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,219,883 shares of the industrial products company’s stock valued at $1,380,557,000 after purchasing an additional 3,216,801 shares during the period. Norges Bank purchased a new stake in Deere & Company in the fourth quarter valued at $1,326,177,000. Finally, Northern Trust Corp raised its position in Deere & Company by 2.5% in the third quarter. Northern Trust Corp now owns 3,061,715 shares of the industrial products company’s stock valued at $1,155,430,000 after purchasing an additional 73,601 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Price Performance

Shares of NYSE DE opened at $400.32 on Friday. The stock’s 50-day moving average is $385.86 and its two-hundred day moving average is $383.05. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.05 and a quick ratio of 1.81. Deere & Company has a 1-year low of $345.55 and a 1-year high of $450.00. The company has a market cap of $111.43 billion, a price-to-earnings ratio of 11.66, a price-to-earnings-growth ratio of 1.50 and a beta of 1.04.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, topping the consensus estimate of $5.19 by $1.04. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The company had revenue of $10.49 billion for the quarter, compared to the consensus estimate of $10.30 billion. During the same quarter in the prior year, the business earned $6.55 EPS. Deere & Company’s revenue was down 8.0% on a year-over-year basis. Analysts forecast that Deere & Company will post 27.4 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th will be issued a dividend of $1.47 per share. The ex-dividend date is Wednesday, March 27th. This represents a $5.88 annualized dividend and a yield of 1.47%. Deere & Company’s dividend payout ratio (DPR) is 17.12%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on DE shares. Citigroup reduced their target price on Deere & Company from $450.00 to $435.00 and set a “buy” rating on the stock in a research report on Friday, February 16th. Melius Research restated a “hold” rating on shares of Deere & Company in a research report on Monday, January 8th. JPMorgan Chase & Co. lifted their target price on Deere & Company from $415.00 to $425.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Morgan Stanley began coverage on Deere & Company in a research report on Monday, January 8th. They issued an “overweight” rating and a $430.00 target price on the stock. Finally, Truist Financial began coverage on Deere & Company in a research note on Thursday, March 14th. They set a “buy” rating and a $494.00 target price on the stock. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Deere & Company has an average rating of “Hold” and an average price target of $433.28.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.