Chemistry Wealth Management LLC Increases Stock Holdings in Deere & Company (NYSE:DE)

Chemistry Wealth Management LLC lifted its stake in Deere & Company (NYSE:DE) by 8.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 3,453 shares of the industrial products company’s stock after buying an additional 276 shares during the period. Chemistry Wealth Management LLC’s holdings in Deere & Company were worth $1,463,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Everence Capital Management Inc. lifted its stake in shares of Deere & Company by 148.3% during the 4th quarter. Everence Capital Management Inc. now owns 12,223 shares of the industrial products company’s stock worth $5,179,000 after acquiring an additional 7,300 shares during the last quarter. Stockbridge Partners LLC lifted its stake in shares of Deere & Company by 157.5% during the 3rd quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock worth $369,019,000 after acquiring an additional 540,874 shares during the last quarter. Toronto Dominion Bank lifted 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 worth $36,288,000 after acquiring an additional 1,291 shares during the last quarter. Chase Investment Counsel Corp lifted its stake in shares of Deere & Company by 53.8% during 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 during the last quarter. Finally, Czech National Bank lifted its stake in shares of Deere & Company by 5.7% during the 4th quarter. Czech National Bank now owns 55,170 shares of the industrial products company’s stock worth $23,376,000 after acquiring an additional 2,964 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

DE has been the subject of a number of research analyst reports. UBS Group raised their price target on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Citigroup decreased their target price on Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a research report on Tuesday. Morgan Stanley lifted their target price on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. JPMorgan Chase & Co. lifted their target price on Deere & Company from $450.00 to $470.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Oppenheimer lifted their target price on Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $442.83.

Deere & Company Stock Up 4.0 %

Shares of DE stock opened at $456.57 on Friday. Deere & Company has a 1-year low of $340.20 and a 1-year high of $469.39. The stock’s fifty day moving average price is $430.22 and its 200 day moving average price is $401.33. 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 company has a market cap of $124.00 billion, a price-to-earnings ratio of 17.83, a price-to-earnings-growth ratio of 1.74 and a beta of 0.98.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, topping the consensus estimate of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The firm had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. During the same period in the previous year, the business earned $8.26 EPS. The firm’s revenue for the quarter was down 32.8% on a year-over-year basis. On average, research analysts expect that Deere & Company will post 19.57 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.42%. The ex-dividend date is Tuesday, December 31st. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s payout ratio is presently 25.31%.

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.