Welch Group LLC Grows Position in Deere & Company (NYSE:DE)

Welch Group LLC raised its holdings in shares of Deere & Company (NYSE:DE) by 2.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 24,728 shares of the industrial products company’s stock after acquiring an additional 494 shares during the quarter. Welch Group LLC’s holdings in Deere & Company were worth $10,500,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Livelsberger Financial Advisory purchased a new position in Deere & Company during the 3rd quarter valued at about $32,000. Modus Advisors LLC acquired a new position in Deere & Company in the fourth quarter valued at $32,000. Synergy Asset Management LLC purchased a new position in shares of Deere & Company during the 4th quarter worth about $35,000. Continuum Advisory LLC raised its stake in Deere & Company by 155.8% during the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 67 shares during the period. Finally, Darwin Wealth Management LLC acquired a new position in Deere & Company in the third quarter valued at $47,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Down 2.0 %

DE opened at $467.07 on Tuesday. 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 $127.21 billion, a PE ratio of 18.24, a P/E/G ratio of 2.94 and a beta of 0.98. The stock’s fifty day moving average is $444.68 and its 200-day moving average is $410.23. Deere & Company has a one year low of $340.20 and a one year high of $485.84.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $9.20 billion. During the same period in the prior year, the company earned $8.26 EPS. Deere & Company’s revenue was down 32.8% on a year-over-year basis. On average, equities analysts predict that Deere & Company will post 19.38 EPS for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors 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 yield of 1.39%. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend is Tuesday, December 31st. Deere & Company’s dividend payout ratio (DPR) is presently 25.31%.

Analyst Ratings Changes

DE has been the subject of several research reports. Barclays boosted their price objective on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Oppenheimer lifted their price objective on Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. JPMorgan Chase & Co. upped their target price on shares of Deere & Company from $450.00 to $470.00 and gave the company a “neutral” rating in a research note on Wednesday, January 15th. Citigroup reduced their price objective on Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Finally, Truist Financial lifted their target price on Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Eleven 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, the company has an average rating of “Hold” and an average target price of $444.50.

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.