Deere & Company (NYSE:DE) Holdings Lifted by Pinnacle Wealth Management Advisory Group LLC

Pinnacle Wealth Management Advisory Group LLC increased its holdings in Deere & Company (NYSE:DE) by 26.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,501 shares of the industrial products company’s stock after acquiring an additional 523 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in Deere & Company were worth $1,060,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of DE. Pineridge Advisors LLC boosted its holdings in shares of Deere & Company by 60.5% during the fourth 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 period. Modus Advisors LLC purchased a new stake in Deere & Company in the 4th quarter worth approximately $32,000. Livelsberger Financial Advisory acquired a new stake in shares of Deere & Company during the 3rd quarter valued at $32,000. YANKCOM Partnership purchased a new position in shares of Deere & Company during the 4th quarter valued at $34,000. Finally, Synergy Asset Management LLC acquired a new position in shares of Deere & Company in the fourth quarter worth $35,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DE has been the topic of a number of recent research reports. Morgan Stanley boosted their target price on 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 price objective on Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Barclays lifted their target price on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Truist Financial restated a “buy” rating and set a $546.00 price target (down previously from $550.00) on shares of Deere & Company in a research note on Friday. Finally, Jefferies Financial Group lowered shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective for the company. in a research note on Friday, December 6th. Eleven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $450.12.

Deere & Company Price Performance

Shares of Deere & Company stock opened at $480.17 on Monday. 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 $130.77 billion, a PE ratio of 18.76, a price-to-earnings-growth ratio of 2.87 and a beta of 0.98. The firm has a fifty day moving average price of $446.95 and a two-hundred day moving average price of $416.52. 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 released its earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, beating the consensus estimate of $3.14 by $0.05. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. Analysts expect that Deere & Company will post 19.38 EPS for the current year.

Deere & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st were given a dividend of $1.62 per share. The ex-dividend date was Tuesday, December 31st. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.35%. Deere & Company’s payout ratio is currently 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.