Carderock Capital Management Inc. Invests $364,000 in Deere & Company (NYSE:DE)

Carderock Capital Management Inc. bought a new position in shares of Deere & Company (NYSE:DE - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 860 shares of the industrial products company's stock, valued at approximately $364,000.

Other hedge funds also recently modified their holdings of the company. Fairscale Capital LLC bought a new position in shares of Deere & Company in the second quarter worth about $26,000. Livelsberger Financial Advisory acquired a new position in Deere & Company in the 3rd quarter valued at approximately $32,000. Modus Advisors LLC bought a new position in shares of Deere & Company during the fourth quarter valued at $32,000. Centennial Bank AR raised its position in Deere & Company by 420.0% during the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company's stock worth $39,000 after purchasing an additional 84 shares during the last quarter. Finally, Continuum Advisory LLC lifted its stake in shares of 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 during the period. Institutional investors own 68.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on DE shares. Barclays boosted their price target on 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 raised their price objective 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 lowered their target price on shares of Deere & Company from $470.00 to $430.00 and set a "neutral" rating on the stock in a report on Tuesday. JPMorgan Chase & Co. lifted their price target on Deere & Company from $450.00 to $470.00 and gave the company a "neutral" rating in a research note on Wednesday. Finally, Morgan Stanley raised their target price on Deere & Company from $401.00 to $450.00 and gave the company an "overweight" rating in a report on Monday, November 25th. 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 MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $442.83.

Deere & Company Price Performance

Deere & Company stock traded up $17.46 during midday trading on Friday, hitting $456.57. 2,315,484 shares of the company's stock were exchanged, compared to its average volume of 906,286. The company has a market cap of $124.00 billion, a P/E ratio of 17.83, a PEG ratio of 1.74 and a beta of 0.98. 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 stock has a 50-day moving average price of $431.48 and a two-hundred day moving average price of $401.99. Deere & Company has a 52-week low of $340.20 and a 52-week high of $469.39.

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

Deere & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $1.62 per share. 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 1.42%. The ex-dividend date of this dividend is Tuesday, December 31st. Deere & Company's dividend payout ratio (DPR) is 25.31%.

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.