Provence Wealth Management Group Purchases 196 Shares of Deere & Company (NYSE:DE)

Provence Wealth Management Group grew its position in shares of Deere & Company (NYSE:DE) by 14.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,511 shares of the industrial products company’s stock after acquiring an additional 196 shares during the quarter. Provence Wealth Management Group’s holdings in Deere & Company were worth $604,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pinnacle Associates Ltd. lifted its position in Deere & Company by 21.3% during the fourth quarter. Pinnacle Associates Ltd. now owns 5,355 shares of the industrial products company’s stock valued at $2,141,000 after purchasing an additional 939 shares during the last quarter. Penserra Capital Management LLC raised its position in shares of Deere & Company by 2.4% during the 3rd quarter. Penserra Capital Management LLC now owns 236,696 shares of the industrial products company’s stock valued at $89,322,000 after buying an additional 5,485 shares in the last quarter. New Mexico Educational Retirement Board raised its position in shares of Deere & Company by 6.9% during the 3rd quarter. New Mexico Educational Retirement Board now owns 14,002 shares of the industrial products company’s stock valued at $5,284,000 after buying an additional 900 shares in the last quarter. Summit Asset Management LLC grew its position in Deere & Company by 24.1% in the fourth quarter. Summit Asset Management LLC now owns 1,030 shares of the industrial products company’s stock worth $412,000 after acquiring an additional 200 shares in the last quarter. Finally, Centric Wealth Management bought a new stake in Deere & Company during the third quarter worth approximately $2,640,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Up 1.3 %

NYSE:DE traded up $5.00 during mid-day trading on Friday, reaching $400.96. The company’s stock had a trading volume of 1,626,960 shares, compared to its average volume of 1,337,641. The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 1.81. Deere & Company has a 1 year low of $345.55 and a 1 year high of $450.00. The stock has a fifty day moving average of $391.45 and a 200-day moving average of $383.91. The firm has a market capitalization of $111.61 billion, a PE ratio of 11.68, a price-to-earnings-growth ratio of 1.51 and a beta of 1.04.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, topping the consensus estimate of $5.19 by $1.04. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The firm had revenue of $10.49 billion during the quarter, compared to analysts’ expectations of $10.30 billion. During the same quarter in the prior year, the company earned $6.55 EPS. The company’s revenue was down 8.0% compared to the same quarter last year. Equities research analysts forecast that Deere & Company will post 27.37 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th will be given a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend is Wednesday, March 27th. Deere & Company’s payout ratio is 17.12%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on DE. Deutsche Bank Aktiengesellschaft lowered their price objective on Deere & Company from $425.00 to $401.00 and set a “hold” rating for the company in a research note on Friday, February 16th. Melius Research restated a “hold” rating on shares of Deere & Company in a report on Monday, January 8th. Truist Financial assumed coverage on shares of Deere & Company in a research note on Thursday, March 14th. They set a “buy” rating and a $494.00 price target for the company. JPMorgan Chase & Co. increased their price objective on shares of Deere & Company from $415.00 to $425.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Finally, Stifel Nicolaus cut their target price on Deere & Company from $435.00 to $425.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $433.28.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.