Bank of Jackson Hole Trust Makes New Investment in Deere & Company (NYSE:DE)

Bank of Jackson Hole Trust acquired a new position in shares of Deere & Company (NYSE:DE) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,298 shares of the industrial products company’s stock, valued at approximately $550,000.

Several other hedge funds also recently added to or reduced their stakes in DE. Pineridge Advisors LLC boosted its holdings in shares of Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after buying an additional 26 shares during the period. Modus Advisors LLC acquired a new position in shares of Deere & Company in the 4th quarter valued at about $32,000. YANKCOM Partnership acquired a new position in shares of Deere & Company in the 4th quarter valued at about $34,000. Synergy Asset Management LLC acquired a new position in shares of Deere & Company in the 4th quarter valued at about $35,000. Finally, Continuum Advisory LLC boosted its holdings in shares of Deere & Company by 155.8% in the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock valued at $43,000 after buying an additional 67 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Up 4.4 %

NYSE DE opened at $501.40 on Wednesday. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. The company’s 50 day simple moving average is $448.71 and its 200 day simple moving average is $418.73. Deere & Company has a 12 month low of $340.20 and a 12 month high of $502.10. The company has a market capitalization of $136.56 billion, a P/E ratio of 19.59, a PEG ratio of 2.87 and a beta of 0.98.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. Equities research analysts expect that Deere & Company will post 19.38 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st were issued a dividend of $1.62 per share. The ex-dividend date was Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.29%. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s payout ratio is currently 28.72%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on DE shares. UBS Group boosted their target price on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Citigroup boosted their target price on shares of Deere & Company from $430.00 to $480.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Barclays boosted their target price on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Oppenheimer boosted their target price on shares of Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Finally, Truist Financial reissued a “buy” rating and set a $546.00 target price (down from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $450.12.

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.