Deere & Company (NYSE:DE) Shares Acquired by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC grew its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 36.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,877 shares of the industrial products company's stock after buying an additional 2,649 shares during the period. Fifth Third Wealth Advisors LLC's holdings in Deere & Company were worth $4,185,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in DE. CCLA Investment Management boosted its holdings in Deere & Company by 11.2% during the fourth quarter. CCLA Investment Management now owns 213,714 shares of the industrial products company's stock worth $90,542,000 after purchasing an additional 21,494 shares during the last quarter. Floyd Financial Group LLC bought a new position in Deere & Company in the 4th quarter valued at $235,000. Pines Wealth Management LLC purchased a new stake in Deere & Company in the fourth quarter valued at approximately $218,000. SeaCrest Wealth Management LLC boosted its stake in Deere & Company by 4.0% in the fourth quarter. SeaCrest Wealth Management LLC now owns 2,697 shares of the industrial products company's stock worth $1,143,000 after buying an additional 103 shares in the last quarter. Finally, Pacifica Partners Inc. lifted its stake in shares of Deere & Company by 5.9% in the 4th quarter. Pacifica Partners Inc. now owns 1,033 shares of the industrial products company's stock valued at $432,000 after acquiring an additional 58 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Down 0.8 %

NYSE:DE traded down $3.47 during trading hours on Wednesday, reaching $428.84. The company's stock had a trading volume of 1,432,051 shares, compared to its average volume of 1,267,156. The stock has a 50 day moving average price of $429.20 and a two-hundred day moving average price of $400.87. 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 $116.80 billion, a P/E ratio of 16.75, a price-to-earnings-growth ratio of 1.88 and a beta of 0.98. Deere & Company has a 12 month low of $340.20 and a 12 month high of $469.39.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly 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. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The firm had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.20 billion. During the same period in the previous year, the company posted $8.26 EPS. The business's revenue for the quarter was down 32.8% compared to the same quarter last year. Equities analysts predict that Deere & Company will post 19.41 EPS for the current fiscal year.

Deere & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be given a $1.62 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.51%. This is an increase from Deere & Company's previous quarterly dividend of $1.47. Deere & Company's payout ratio is presently 25.31%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Citigroup dropped their price target on Deere & Company from $470.00 to $430.00 and set a "neutral" rating for the company in a research note on Tuesday. Morgan Stanley increased 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. Truist Financial boosted their price objective on Deere & Company from $538.00 to $550.00 and gave the company a "buy" rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. boosted their target price on shares of Deere & Company from $450.00 to $470.00 and gave the stock a "neutral" rating in a report on Wednesday. Finally, Barclays upped their target price on shares of Deere & Company from $400.00 to $475.00 and gave the company an "overweight" rating in a research report on Friday, November 22nd. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, Deere & Company currently has an average rating of "Hold" and an average price target of $442.83.

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.