Merit Financial Group LLC lifted its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 11.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,464 shares of the industrial products company's stock after purchasing an additional 890 shares during the quarter. Merit Financial Group LLC's holdings in Deere & Company were worth $3,586,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in DE. Fairscale Capital LLC acquired a new position in Deere & Company during the second quarter worth approximately $26,000. Modus Advisors LLC acquired a new stake in shares of Deere & Company during the 4th quarter worth $32,000. Livelsberger Financial Advisory purchased a new position in shares of Deere & Company in the 3rd quarter worth $32,000. Centennial Bank AR boosted its holdings in Deere & Company by 420.0% in the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company's stock valued at $39,000 after acquiring an additional 84 shares during the last quarter. Finally, Continuum Advisory LLC grew its position in Deere & Company by 155.8% during the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company's stock valued at $43,000 after acquiring an additional 67 shares during the period. Hedge funds and other institutional investors own 68.58% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have recently commented on DE. Jefferies Financial Group downgraded Deere & Company from a "buy" rating to a "hold" rating and set a $510.00 price objective on the stock. in a report on Friday, December 6th. JPMorgan Chase & Co. lifted their price target on shares of Deere & Company from $450.00 to $470.00 and gave the company a "neutral" rating in a research report on Wednesday, January 15th. Barclays increased their price objective on shares of Deere & Company from $400.00 to $475.00 and gave the stock an "overweight" rating in a research report on Friday, November 22nd. Citigroup reduced 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, January 14th. Finally, Morgan Stanley increased their price target on Deere & Company from $401.00 to $450.00 and gave the company an "overweight" rating in a report on Monday, November 25th. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Deere & Company presently has a consensus rating of "Hold" and an average target price of $442.83.
Read Our Latest Stock Analysis on DE
Deere & Company Stock Up 4.0 %
DE stock opened at $456.57 on Monday. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89. The firm has a 50 day simple moving average of $431.48 and a 200-day simple moving average of $402.25. The company has a market capitalization of $124.35 billion, a P/E ratio of 17.83, a PEG ratio of 1.74 and a beta of 0.98. Deere & Company has a twelve month low of $340.20 and a twelve month high of $469.39.
Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, topping the consensus estimate of $3.89 by $0.66. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The company had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.20 billion. During the same period last year, the business earned $8.26 EPS. The firm's revenue for the quarter was down 32.8% compared to the same quarter last year. On average, equities research analysts predict that Deere & Company will post 19.57 earnings per share 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. Shareholders of record on Tuesday, December 31st will be paid a dividend of $1.62 per share. The ex-dividend date is Tuesday, December 31st. This represents a $6.48 annualized dividend and a yield of 1.42%. This is a boost from Deere & Company's previous quarterly dividend of $1.47. Deere & Company's dividend payout ratio is presently 25.31%.
About Deere & Company
(
Free Report)
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.
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