Kestra Private Wealth Services LLC Raises Stock Holdings in Deere & Company (NYSE:DE)

Kestra Private Wealth Services LLC boosted its holdings in shares of Deere & Company (NYSE:DE) by 1.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 8,976 shares of the industrial products company’s stock after purchasing an additional 130 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Deere & Company were worth $3,803,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Robertson Stephens Wealth Management LLC raised its holdings in Deere & Company by 2.2% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company’s stock valued at $426,000 after acquiring an additional 22 shares in the last quarter. DLK Investment Management LLC increased its position in shares of 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 during the last quarter. Mattern Wealth Management LLC raised its stake in shares of 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 purchasing an additional 25 shares in the last quarter. Carret Asset Management LLC lifted its position in shares of Deere & Company by 0.3% during the third quarter. Carret Asset Management LLC now owns 8,148 shares of the industrial products company’s stock worth $3,401,000 after purchasing an additional 25 shares during the last quarter. Finally, Round Rock Advisors LLC grew its stake in Deere & Company by 2.0% in the third quarter. Round Rock Advisors LLC now owns 1,252 shares of the industrial products company’s stock worth $522,000 after purchasing an additional 25 shares in the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Up 1.0 %

Shares of Deere & Company stock opened at $470.22 on Tuesday. The company has a market capitalization of $128.06 billion, a P/E ratio of 18.37, a PEG ratio of 2.87 and a beta of 0.98. The business’s fifty day moving average price is $445.00 and its two-hundred day moving average price is $413.46. 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 posted its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.89 by $0.66. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The business had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. During the same period last year, the firm posted $8.26 earnings per share. The business’s revenue was down 32.8% on a year-over-year basis. As a group, research analysts forecast that Deere & Company will post 19.38 EPS for the current year.

Deere & Company Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st were given a $1.62 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a yield of 1.38%. Deere & Company’s payout ratio is 25.31%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on DE. Jefferies Financial Group cut Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective on the stock. in a research note on Friday, December 6th. Morgan Stanley upped their price target on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Citigroup decreased their price objective on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. JPMorgan Chase & Co. increased their target price on shares of Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a report on Monday. Finally, Truist Financial lifted their price target on shares of Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Deere & Company currently has an average rating of “Hold” and an average price target of $446.17.

Deere & 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.