Alhambra Investment Management LLC Purchases 28 Shares of Deere & Company (NYSE:DE)

Alhambra Investment Management LLC increased its position in shares of Deere & Company (NYSE:DE) by 3.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 770 shares of the industrial products company’s stock after buying an additional 28 shares during the period. Alhambra Investment Management LLC’s holdings in Deere & Company were worth $326,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in DE. Wellington Management Group LLP increased its position in shares of Deere & Company by 32.0% during the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock worth $3,068,404,000 after purchasing an additional 1,782,984 shares in the last quarter. Geode Capital Management LLC increased its position in Deere & Company by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company’s stock valued at $2,168,737,000 after buying an additional 31,459 shares in the last quarter. FMR LLC increased its position in Deere & Company by 27.8% during the 3rd quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock valued at $1,895,518,000 after buying an additional 988,380 shares in the last quarter. Legal & General Group Plc raised its stake in Deere & Company by 2.7% in the second quarter. Legal & General Group Plc now owns 2,254,266 shares of the industrial products company’s stock valued at $842,259,000 after buying an additional 60,255 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in Deere & Company by 8.6% in the third quarter. Fisher Asset Management LLC now owns 1,994,657 shares of the industrial products company’s stock worth $832,431,000 after acquiring an additional 158,732 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Performance

DE opened at $456.57 on Friday. The firm has a fifty day moving average price of $430.22 and a 200 day moving average price of $401.33. Deere & Company has a 1 year low of $340.20 and a 1 year high of $469.39. The stock has a market cap of $124.00 billion, a P/E ratio of 17.83, a P/E/G ratio of 1.74 and a beta of 0.98. 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 EPS for the quarter, beating analysts’ consensus estimates of $3.89 by $0.66. The business had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The business’s revenue was down 32.8% compared to the same quarter last year. During the same period in the previous year, the business earned $8.26 earnings per share. Equities research analysts anticipate that Deere & Company will post 19.57 earnings per share for the current year.

Deere & Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.42%. The ex-dividend date is Tuesday, December 31st. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio is 25.31%.

Analyst Ratings Changes

Several brokerages recently commented on DE. Morgan Stanley increased their price objective on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Jefferies Financial Group cut shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target for the company. in a report on Friday, December 6th. Truist Financial lifted their price objective on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. raised their target price on Deere & Company from $450.00 to $470.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Citigroup dropped their price target on Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a research note on Tuesday. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $442.83.

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.