Ballentine Partners LLC Raises Position in Deere & Company (NYSE:DE)

Ballentine Partners LLC increased its holdings in Deere & Company (NYSE:DEFree Report) by 23.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,389 shares of the industrial products company’s stock after buying an additional 1,606 shares during the period. Ballentine Partners LLC’s holdings in Deere & Company were worth $3,355,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. WoodTrust Financial Corp raised its position in Deere & Company by 10.4% during the fourth quarter. WoodTrust Financial Corp now owns 938 shares of the industrial products company’s stock valued at $375,000 after purchasing an additional 88 shares in the last quarter. Trust Point Inc. purchased a new stake in Deere & Company during the fourth quarter valued at about $1,446,000. LVZ Inc. raised its position in Deere & Company by 9.6% during the fourth quarter. LVZ Inc. now owns 764 shares of the industrial products company’s stock valued at $306,000 after purchasing an additional 67 shares in the last quarter. Bridges Investment Management Inc. raised its position in Deere & Company by 30.9% during the fourth quarter. Bridges Investment Management Inc. now owns 7,802 shares of the industrial products company’s stock valued at $3,120,000 after purchasing an additional 1,842 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its position in Deere & Company by 9.6% during the fourth quarter. Venturi Wealth Management LLC now owns 571 shares of the industrial products company’s stock valued at $228,000 after purchasing an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on DE. Truist Financial began coverage on Deere & Company in a report on Thursday, March 14th. They issued a “buy” rating and a $494.00 price objective on the stock. Wells Fargo & Company decreased their price objective on Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a report on Friday, February 16th. Morgan Stanley began coverage on Deere & Company in a report on Monday, January 8th. They issued an “overweight” rating and a $430.00 price objective on the stock. Stifel Nicolaus decreased their price objective on Deere & Company from $435.00 to $425.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Finally, Melius Research reiterated a “hold” rating on shares of Deere & Company in a report on Monday, January 8th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Deere & Company presently has a consensus rating of “Hold” and a consensus target price of $431.28.

Read Our Latest Analysis on Deere & Company

Deere & Company Stock Up 0.5 %

Deere & Company stock traded up $2.03 during trading hours on Wednesday, hitting $406.03. 1,050,825 shares of the stock traded hands, compared to its average volume of 1,515,269. The firm’s 50-day moving average price is $382.31 and its two-hundred day moving average price is $381.39. The company has a current ratio of 2.05, a quick ratio of 1.81 and a debt-to-equity ratio of 1.81. The company has a market cap of $113.02 billion, a PE ratio of 11.80, a PEG ratio of 1.52 and a beta of 1.04. Deere & Company has a one year low of $345.55 and a one year high of $450.00.

Deere & Company (NYSE:DEGet Free Report) last posted its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, beating the consensus estimate of $5.19 by $1.04. The business had revenue of $10.49 billion for the quarter, compared to analysts’ expectations of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The business’s revenue was down 8.0% on a year-over-year basis. During the same period in the previous year, the firm posted $6.55 EPS. On average, research analysts forecast that Deere & Company will post 27.41 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th will be issued a dividend of $1.47 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $5.88 annualized dividend and a dividend yield of 1.45%. Deere & Company’s payout ratio is 17.12%.

Deere & Company Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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