DLK Investment Management LLC Grows Stake in Deere & Company (NYSE:DE)

DLK Investment Management LLC raised its stake in shares of Deere & Company (NYSE:DE) by 0.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,212 shares of the industrial products company’s stock after buying an additional 24 shares during the quarter. DLK Investment Management LLC’s holdings in Deere & Company were worth $3,479,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of DE. Fairscale Capital LLC purchased a new stake in shares of Deere & Company during the 2nd quarter worth approximately $26,000. Modus Advisors LLC bought a new stake in shares of Deere & Company in the 4th quarter worth about $32,000. Livelsberger Financial Advisory purchased a new stake in shares of Deere & Company during the 3rd quarter valued at about $32,000. Centennial Bank AR lifted its holdings in shares of Deere & Company by 420.0% in the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 84 shares during the last quarter. Finally, Continuum Advisory LLC grew its position in Deere & Company by 155.8% in the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 67 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Up 4.0 %

Shares of Deere & Company stock opened at $456.57 on Monday. Deere & Company has a 1-year low of $340.20 and a 1-year high of $469.39. 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 stock has a market cap of $124.00 billion, a P/E ratio of 17.83, a P/E/G ratio of 1.74 and a beta of 0.98. The stock’s 50 day simple moving average is $431.48 and its 200-day simple moving average is $402.25.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating the consensus estimate of $3.89 by $0.66. The business had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The business’s revenue for the quarter was down 32.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $8.26 EPS. Analysts predict that Deere & Company will post 19.57 EPS 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. Stockholders of record on Tuesday, December 31st will be given 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 dividend yield of 1.42%. The ex-dividend date of this dividend is Tuesday, December 31st. Deere & Company’s dividend payout ratio (DPR) is currently 25.31%.

Analyst Upgrades and Downgrades

DE has been the topic of a number of research reports. UBS Group raised their target price on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. 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. Jefferies Financial Group lowered Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target on the stock. in a research note on Friday, December 6th. Morgan Stanley upped their price objective on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Finally, Citigroup cut their target price on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $442.83.

Deere & 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.