Dale Q Rice Investment Management Ltd Makes New $791,000 Investment in Deere & Company (NYSE:DE)

Dale Q Rice Investment Management Ltd bought a new position in Deere & Company (NYSE:DE) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,868 shares of the industrial products company’s stock, valued at approximately $791,000.

Other institutional investors have also made changes to their positions in the company. FNY Investment Advisers LLC lifted its stake in Deere & Company by 657.1% in the 4th quarter. FNY Investment Advisers LLC now owns 5,300 shares of the industrial products company’s stock worth $2,245,000 after acquiring an additional 4,600 shares in the last quarter. BCS Wealth Management acquired a new position in shares of Deere & Company in the 4th quarter valued at about $287,000. Marion Wealth Management lifted its position in shares of Deere & Company by 7.0% in the fourth quarter. Marion Wealth Management now owns 3,864 shares of the industrial products company’s stock worth $1,637,000 after purchasing an additional 253 shares in the last quarter. Miracle Mile Advisors LLC boosted its holdings in shares of Deere & Company by 252.7% during the fourth quarter. Miracle Mile Advisors LLC now owns 14,503 shares of the industrial products company’s stock worth $6,145,000 after purchasing an additional 10,391 shares during the period. Finally, Ehrlich Financial Group purchased a new position in Deere & Company during the fourth quarter valued at approximately $265,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on DE shares. JPMorgan Chase & Co. increased their target price on shares of Deere & Company from $420.00 to $450.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. UBS Group increased their price objective on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Truist Financial boosted their target price on Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Citigroup raised their price target on Deere & Company from $460.00 to $470.00 and gave the stock a “neutral” rating in a research note on Monday, December 9th. Finally, Oppenheimer lifted their price target on Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Eleven research 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, the company has a consensus rating of “Hold” and an average target price of $443.94.

Deere & Company Stock Up 5.3 %

Deere & Company stock opened at $430.17 on Tuesday. 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 has a fifty-two week low of $340.20 and a fifty-two week high of $469.39. The firm has a fifty day moving average price of $428.56 and a two-hundred day moving average price of $400.45. The firm has a market cap of $117.69 billion, a price-to-earnings ratio of 16.80, a P/E/G ratio of 1.88 and a beta of 0.96.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, topping the consensus estimate of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The business had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. During the same quarter in the previous year, the firm earned $8.26 EPS. The firm’s revenue was down 32.8% compared to the same quarter last year. As a group, analysts forecast that Deere & Company will post 19.41 earnings per share for the current year.

Deere & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.51%. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date is Tuesday, December 31st. Deere & Company’s dividend payout ratio is currently 22.97%.

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.