Ingalls & Snyder LLC Raises Holdings in Deere & Company (NYSE:DE)

Ingalls & Snyder LLC grew its position in Deere & Company (NYSE:DE) by 1.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 61,095 shares of the industrial products company’s stock after purchasing an additional 654 shares during the quarter. Deere & Company makes up 1.0% of Ingalls & Snyder LLC’s portfolio, making the stock its 22nd biggest position. Ingalls & Snyder LLC’s holdings in Deere & Company were worth $25,886,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Pineridge Advisors LLC lifted its stake in shares of Deere & Company by 60.5% during the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 26 shares during the last quarter. Livelsberger Financial Advisory purchased a new stake in shares of Deere & Company during the 3rd quarter worth $32,000. Modus Advisors LLC purchased a new stake in shares of Deere & Company during the 4th quarter worth $32,000. YANKCOM Partnership purchased a new stake in shares of Deere & Company during the 4th quarter worth $34,000. Finally, Synergy Asset Management LLC purchased a new stake in shares of Deere & Company during the 4th quarter worth $35,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on DE shares. Citigroup decreased their price objective on Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Barclays upped their target price on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Morgan Stanley upped 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. UBS Group upped their target price on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, Oppenheimer upped their target price on Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Deere & Company currently has a consensus rating of “Hold” and an average price target of $446.17.

Deere & Company Stock Up 0.5 %

Shares of DE stock opened at $476.53 on Thursday. The stock’s 50-day simple moving average is $445.46 and its 200-day simple moving average is $414.70. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. The firm has a market capitalization of $129.78 billion, a PE ratio of 18.61, a P/E/G ratio of 2.87 and a beta of 0.98. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $485.84.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping the consensus estimate of $3.89 by $0.66. The firm had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. Deere & Company’s revenue for the quarter was down 32.8% compared to the same quarter last year. During the same period last year, the company earned $8.26 earnings per share. Equities analysts expect that Deere & Company will post 19.38 earnings per share for the current year.

Deere & Company Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Tuesday, December 31st were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.36%. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend was Tuesday, December 31st. Deere & Company’s dividend payout ratio (DPR) is 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.