Wesbanco Bank Inc. Raises Position in Deere & Company (NYSE:DE)

Wesbanco Bank Inc. increased its holdings in Deere & Company (NYSE:DE) by 0.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 18,735 shares of the industrial products company’s stock after acquiring an additional 98 shares during the quarter. Wesbanco Bank Inc.’s holdings in Deere & Company were worth $7,938,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in DE. Wellington Management Group LLP raised its position in Deere & Company by 32.0% during the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock valued at $3,068,404,000 after purchasing an additional 1,782,984 shares in the last quarter. FMR LLC raised 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 raised 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 raised 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 raised 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 Trading Down 0.8 %

Shares of Deere & Company stock opened at $459.55 on Thursday. The company has a market capitalization of $125.16 billion, a P/E ratio of 17.95, a P/E/G ratio of 2.86 and a beta of 0.98. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $469.39. 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 fifty day moving average of $433.94 and a 200 day moving average of $403.91.

Deere & Company (NYSE:DE) last announced 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. The business had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The business’s quarterly revenue was down 32.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $8.26 EPS. On average, sell-side analysts anticipate that Deere & Company will post 19.34 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be paid a $1.62 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $6.48 annualized dividend and a yield of 1.41%. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s payout ratio is presently 25.31%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on DE shares. Oppenheimer raised their price objective on Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Barclays lifted their price objective on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Truist Financial lifted their target price on shares of Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Morgan Stanley lifted their target price on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Deere & Company from $450.00 to $470.00 and gave the stock a “neutral” rating in a report on Wednesday, January 15th. Eleven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price 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.