Geneos Wealth Management Inc. Buys 1,119 Shares of Deere & Company (NYSE:DE)

Geneos Wealth Management Inc. boosted its stake in Deere & Company (NYSE:DE) by 11.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 11,079 shares of the industrial products company’s stock after buying an additional 1,119 shares during the period. Geneos Wealth Management Inc.’s holdings in Deere & Company were worth $4,694,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Livelsberger Financial Advisory purchased a new position in shares of Deere & Company in the third quarter worth $32,000. Modus Advisors LLC purchased a new position in shares of Deere & Company in the fourth quarter valued at about $32,000. Centennial Bank AR raised its stake in shares of Deere & Company by 420.0% during 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. Continuum Advisory LLC raised its stake in shares of 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 last quarter. Finally, Darwin Wealth Management LLC purchased a new stake in shares of Deere & Company during the third quarter worth about $47,000. Institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on DE. Oppenheimer upped their price target on Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Truist Financial upped their target price on 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 price target 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. JPMorgan Chase & Co. upped 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. Finally, Citigroup cut their target price on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Deere & Company has a consensus rating of “Hold” and an average price target of $442.83.

Deere & Company Stock Up 0.9 %

Shares of NYSE:DE opened at $478.90 on Friday. 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 stock has a fifty day simple moving average of $438.55 and a two-hundred day simple moving average of $405.66. Deere & Company has a 12-month low of $340.20 and a 12-month high of $479.48. The stock has a market capitalization of $130.43 billion, a price-to-earnings ratio of 18.71, a PEG ratio of 2.84 and a beta of 0.98.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (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 quarter in the previous year, the firm earned $8.26 EPS. Deere & Company’s quarterly revenue was down 32.8% compared to the same quarter last year. On average, research analysts anticipate that Deere & Company will post 19.34 earnings per share 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. Investors of record on Tuesday, December 31st will be given a dividend of $1.62 per share. The ex-dividend date is Tuesday, December 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.35%. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio (DPR) is 25.31%.

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.