Prairie Wealth Advisors Inc. Buys 35 Shares of Deere & Company (NYSE:DE)

Prairie Wealth Advisors Inc. raised its position in Deere & Company (NYSE:DE) by 3.8% in the fourth quarter, HoldingsChannel reports. The fund owned 964 shares of the industrial products company’s stock after purchasing an additional 35 shares during the quarter. Prairie Wealth Advisors Inc.’s holdings in Deere & Company were worth $410,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Robertson Stephens Wealth Management LLC grew its stake in shares of Deere & Company by 2.2% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company’s stock worth $426,000 after acquiring an additional 22 shares in the last quarter. DLK Investment Management LLC grew its position in Deere & Company by 0.3% in the 4th quarter. DLK Investment Management LLC now owns 8,212 shares of the industrial products company’s stock worth $3,479,000 after purchasing an additional 24 shares in the last quarter. Mattern Wealth Management LLC increased its stake in Deere & Company by 1.3% in the 3rd quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock valued at $786,000 after buying an additional 25 shares during the last quarter. Carret Asset Management LLC lifted its position in shares of Deere & Company by 0.3% during the 3rd quarter. Carret Asset Management LLC now owns 8,148 shares of the industrial products company’s stock worth $3,401,000 after buying an additional 25 shares in the last quarter. Finally, Round Rock Advisors LLC boosted its stake in shares of Deere & Company by 2.0% in the 3rd quarter. Round Rock Advisors LLC now owns 1,252 shares of the industrial products company’s stock worth $522,000 after buying an additional 25 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Deere & Company stock opened at $464.69 on Friday. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $485.84. The stock has a market cap of $126.56 billion, a price-to-earnings ratio of 18.15, a PEG ratio of 2.94 and a beta of 0.98. The stock’s 50 day simple moving average is $445.03 and its two-hundred day simple moving average is $411.89.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $9.20 billion. During the same period in the prior year, the firm posted $8.26 earnings per share. The company’s quarterly revenue was down 32.8% on a year-over-year basis. As a group, analysts expect that Deere & Company will post 19.38 earnings per share 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. Shareholders of record on Tuesday, December 31st will be given a $1.62 dividend. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date is Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.39%. Deere & Company’s payout ratio is 25.31%.

Wall Street Analyst Weigh In

A number of analysts recently commented on DE shares. Truist Financial lifted their price target on Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Morgan Stanley boosted their price target on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Barclays raised their price objective on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Jefferies Financial Group cut shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a research note on Friday, December 6th. Finally, Citigroup decreased their price target on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Eleven 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.com, Deere & Company has a consensus rating of “Hold” and a consensus target price of $444.50.

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.