Pines Wealth Management LLC Invests $218,000 in Deere & Company (NYSE:DE)

Pines Wealth Management LLC purchased a new stake in shares of Deere & Company (NYSE:DE) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 533 shares of the industrial products company’s stock, valued at approximately $218,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DE. Mattern Wealth Management LLC lifted its position in shares of Deere & Company by 1.3% during the third quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock worth $786,000 after purchasing an additional 25 shares during the last quarter. Carret Asset Management LLC lifted its holdings in Deere & Company by 0.3% during the 3rd quarter. Carret Asset Management LLC now owns 8,148 shares of the industrial products company’s stock valued at $3,401,000 after buying an additional 25 shares in the last quarter. Round Rock Advisors LLC boosted its position in Deere & Company by 2.0% in the 3rd quarter. Round Rock Advisors LLC now owns 1,252 shares of the industrial products company’s stock valued at $522,000 after buying an additional 25 shares during the period. Douglas Lane & Associates LLC boosted its position in Deere & Company by 4.7% in the 4th quarter. Douglas Lane & Associates LLC now owns 557 shares of the industrial products company’s stock valued at $236,000 after buying an additional 25 shares during the period. Finally, Centaurus Financial Inc. increased its position in shares of Deere & Company by 2.3% during the second quarter. Centaurus Financial Inc. now owns 1,160 shares of the industrial products company’s stock worth $433,000 after acquiring an additional 26 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Trading Down 0.8 %

Shares of NYSE:DE opened at $428.84 on Thursday. The business’s 50-day moving average is $429.20 and its 200 day moving average is $400.87. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. Deere & Company has a 1 year low of $340.20 and a 1 year high of $469.39. The firm has a market capitalization of $116.80 billion, a P/E ratio of 16.75, a P/E/G ratio of 1.88 and a beta of 0.98.

Deere & Company (NYSE:DE) last posted its quarterly earnings data 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. The firm had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The company’s revenue for the quarter was down 32.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $8.26 earnings per share. On average, research analysts predict that Deere & Company will post 19.41 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $1.62 per share. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Tuesday, December 31st. Deere & Company’s payout ratio is presently 25.31%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. UBS Group boosted their price target on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Truist Financial increased their price target on Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Barclays lifted their price objective on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. increased their target price on shares of Deere & Company from $450.00 to $470.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Citigroup reduced their price target on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a report on Tuesday. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $442.83.

Deere & Company 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.