Fiduciary Alliance LLC Buys Shares of 1,447 Deere & Company (NYSE:DE)

Fiduciary Alliance LLC bought a new position in Deere & Company (NYSE:DE - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,447 shares of the industrial products company's stock, valued at approximately $613,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of DE. Wellington Management Group LLP grew its position in shares of Deere & Company by 32.0% during the 3rd quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company's stock worth $3,068,404,000 after buying an additional 1,782,984 shares in the last quarter. FMR LLC boosted its position in Deere & Company by 27.8% during the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company's stock valued at $1,895,518,000 after purchasing an additional 988,380 shares in the last quarter. Pathway Financial Advisers LLC boosted its position in Deere & Company by 53,338.6% during the third quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company's stock valued at $356,602,000 after purchasing an additional 852,885 shares in the last quarter. International Assets Investment Management LLC boosted its position in Deere & Company by 46,892.9% during the third quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company's stock valued at $322,218,000 after purchasing an additional 770,451 shares in the last quarter. Finally, Stockbridge Partners LLC boosted its position in Deere & Company by 157.5% during the third quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company's stock valued at $369,019,000 after purchasing an additional 540,874 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company's stock.

Deere & Company Price Performance

DE traded up $2.26 during trading on Tuesday, hitting $432.17. The company's stock had a trading volume of 1,223,784 shares, compared to its average volume of 1,246,434. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89. Deere & Company has a twelve month low of $340.20 and a twelve month high of $469.39. The business's fifty day simple moving average is $428.56 and its 200 day simple moving average is $400.45. The firm has a market capitalization of $118.24 billion, a price-to-earnings ratio of 16.88, a P/E/G ratio of 1.88 and a beta of 0.96.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, beating the consensus estimate of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The company had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. During the same period last year, the company earned $8.26 earnings per share. Deere & Company's quarterly revenue was down 32.8% compared to the same quarter last year. On average, equities research analysts forecast that Deere & Company will post 19.41 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 paid a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change 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 1.50%. Deere & Company's payout ratio is currently 22.97%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Truist Financial raised their price objective on Deere & Company from $538.00 to $550.00 and gave the company a "buy" rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. raised their price target on Deere & Company from $420.00 to $450.00 and gave the stock a "neutral" rating in a report on Friday, November 22nd. Oppenheimer raised their price target on Deere & Company from $448.00 to $477.00 and gave the stock an "outperform" rating in a report on Friday, November 22nd. Jefferies Financial Group downgraded Deere & Company from a "buy" rating to a "hold" rating and set a $510.00 price target for the company. in a report on Friday, December 6th. Finally, Morgan Stanley raised their price target on Deere & Company from $401.00 to $450.00 and gave the stock an "overweight" rating in a report on Monday, November 25th. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $441.72.

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.