Jacksonville Wealth Management LLC Takes $2.52 Million Position in Deere & Company (NYSE:DE)

Jacksonville Wealth Management LLC purchased a new stake in Deere & Company (NYSE:DE - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,950 shares of the industrial products company's stock, valued at approximately $2,521,000. Deere & Company accounts for 2.4% of Jacksonville Wealth Management LLC's portfolio, making the stock its 11th largest position.

Other hedge funds have also added to or reduced their stakes in the company. Public Sector Pension Investment Board increased its stake in shares of Deere & Company by 80.5% during the second quarter. Public Sector Pension Investment Board now owns 9,171 shares of the industrial products company's stock worth $3,427,000 after purchasing an additional 4,091 shares during the period. MBB Public Markets I LLC acquired a new position in Deere & Company in the 2nd quarter valued at $7,010,000. The Manufacturers Life Insurance Company increased its position in Deere & Company by 5.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 440,028 shares of the industrial products company's stock worth $164,408,000 after buying an additional 21,955 shares during the period. Lighthouse Investment Partners LLC acquired a new stake in shares of Deere & Company during the second quarter worth $237,000. Finally, Scientech Research LLC bought a new stake in shares of Deere & Company in the second quarter valued at about $799,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Analysts Set New Price Targets

DE has been the subject of several analyst reports. Jefferies Financial Group cut 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. 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. Oppenheimer raised their price objective on Deere & Company from $448.00 to $477.00 and gave the stock an "outperform" rating in a research note on Friday, November 22nd. Truist Financial increased their target price on Deere & Company from $538.00 to $550.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Finally, 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, January 14th. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Deere & Company presently has a consensus rating of "Hold" and an average price target of $442.83.

Deere & Company Price Performance

Shares of NYSE DE traded up $4.18 during mid-day trading on Friday, hitting $478.90. 1,400,742 shares of the stock traded hands, compared to its average volume of 1,025,682. The company has a market cap of $130.43 billion, a PE ratio of 18.71, a price-to-earnings-growth ratio of 2.84 and a beta of 0.98. Deere & Company has a twelve month low of $340.20 and a twelve month high of $479.48. 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 firm has a 50 day simple moving average of $438.55 and a two-hundred day simple moving average of $406.05.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly 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 firm had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. During the same period last year, the firm posted $8.26 earnings per share. The business's revenue for the quarter was down 32.8% on a year-over-year basis. As a group, equities research analysts forecast that Deere & Company will post 19.34 EPS for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.35%. 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. Deere & Company's payout ratio is 25.31%.

Deere & 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.