Western Pacific Wealth Management LP Acquires 155 Shares of Deere & Company (NYSE:DE)

Western Pacific Wealth Management LP boosted its holdings in shares of Deere & Company (NYSE:DE) by 50.2% during the 4th quarter, Holdings Channel reports. The firm owned 464 shares of the industrial products company’s stock after buying an additional 155 shares during the period. Western Pacific Wealth Management LP’s holdings in Deere & Company were worth $197,000 at the end of the most recent reporting period.

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

Deere & Company Stock Down 0.8 %

Shares of NYSE:DE opened at $476.29 on Friday. The firm has a market capitalization of $129.72 billion, a PE ratio of 18.61, a price-to-earnings-growth ratio of 2.95 and a beta of 0.98. The business has a 50 day simple moving average of $444.68 and a two-hundred day simple moving average of $410.05. Deere & Company has a 1 year low of $340.20 and a 1 year high of $485.84. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.89 by $0.66. The firm had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. Deere & Company’s quarterly revenue was down 32.8% compared to the same quarter last year. During the same period last year, the company earned $8.26 EPS. On average, equities analysts predict that Deere & Company will post 19.38 EPS for the current year.

Deere & Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be given a dividend of $1.62 per share. 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. This represents a $6.48 dividend on an annualized basis and a yield of 1.36%. Deere & Company’s payout ratio is 25.31%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on DE. Citigroup reduced their target price on Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Barclays lifted their price objective on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Jefferies Financial Group downgraded Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price for the company. in a research report on Friday, December 6th. UBS Group boosted their price target on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Finally, Truist Financial increased their price objective on shares of Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target 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.