Deere & Company (NYSE:DE) Shares Purchased by Lake Street Private Wealth LLC

Lake Street Private Wealth LLC raised its stake in Deere & Company (NYSE:DE) by 19.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 777 shares of the industrial products company’s stock after buying an additional 129 shares during the quarter. Lake Street Private Wealth LLC’s holdings in Deere & Company were worth $329,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of DE. Selective Wealth Management Inc. acquired a new stake in shares of Deere & Company during the fourth quarter worth about $201,000. Brooklyn Investment Group raised its stake in Deere & Company by 8.3% during the 4th quarter. Brooklyn Investment Group now owns 1,691 shares of the industrial products company’s stock valued at $716,000 after acquiring an additional 130 shares during the last quarter. Whitener Capital Management Inc. raised its stake in Deere & Company by 1.4% during the 4th quarter. Whitener Capital Management Inc. now owns 7,213 shares of the industrial products company’s stock valued at $3,056,000 after acquiring an additional 99 shares during the last quarter. Carderock Capital Management Inc. acquired a new stake in Deere & Company during the 4th quarter worth approximately $364,000. Finally, Merit Financial Group LLC grew its stake in shares of Deere & Company by 11.8% in the 4th quarter. Merit Financial Group LLC now owns 8,464 shares of the industrial products company’s stock valued at $3,586,000 after purchasing an additional 890 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on DE shares. Oppenheimer increased their price target on Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Citigroup reduced their target price on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Jefferies Financial Group lowered shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target on the stock. in a research note on Friday, December 6th. Morgan Stanley increased their price target on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Finally, UBS Group lifted their price objective on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Deere & Company presently has a consensus rating of “Hold” and a consensus target price of $442.83.

Deere & Company Trading Up 4.0 %

NYSE:DE opened at $456.57 on Friday. Deere & Company has a 52-week low of $340.20 and a 52-week high of $469.39. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. The stock has a fifty day simple moving average of $431.48 and a 200-day simple moving average of $401.99. The company has a market capitalization of $124.00 billion, a PE ratio of 17.83, a price-to-earnings-growth ratio of 1.74 and a beta of 0.98.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.89 by $0.66. The company had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The firm’s quarterly revenue was down 32.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $8.26 earnings per share. On average, equities research analysts expect that Deere & Company will post 19.57 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

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

About Deere & Company

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.