Avidian Wealth Enterprises LLC Buys 48 Shares of Deere & Company (NYSE:DE)

Avidian Wealth Enterprises LLC increased its stake in shares of Deere & Company (NYSE:DE) by 4.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,119 shares of the industrial products company’s stock after acquiring an additional 48 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in Deere & Company were worth $474,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pineridge Advisors LLC raised its stake in Deere & Company by 60.5% during the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 26 shares in the last quarter. Modus Advisors LLC purchased a new stake in Deere & Company during the fourth quarter valued at $32,000. Livelsberger Financial Advisory purchased a new stake in Deere & Company during the third quarter valued at $32,000. YANKCOM Partnership purchased a new stake in Deere & Company during the fourth quarter valued at $34,000. Finally, Synergy Asset Management LLC purchased a new stake in Deere & Company during the fourth quarter valued at $35,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Down 2.2 %

NYSE DE opened at $466.30 on Friday. 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 company has a market capitalization of $127.00 billion, a price-to-earnings ratio of 18.21, a price-to-earnings-growth ratio of 2.87 and a beta of 0.98. The company’s 50-day simple moving average is $445.86 and its two-hundred day simple moving average is $415.14. Deere & Company has a one year low of $340.20 and a one year high of $485.84.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, beating analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. Equities analysts forecast that Deere & Company will post 19.38 EPS for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st were given a dividend of $1.62 per share. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.39%. Deere & Company’s dividend payout ratio (DPR) is 25.31%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on DE shares. Truist Financial increased their target price on shares of Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Citigroup reduced 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 note on Tuesday, January 14th. Morgan Stanley increased their target price on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Oppenheimer increased their target price on shares of Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Finally, JPMorgan Chase & Co. increased their target price on shares of Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a research note on Monday. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Deere & Company presently has a consensus rating of “Hold” and an average target price of $446.17.

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.