Cerro Pacific Wealth Advisors LLC Has $1.62 Million Stake in Deere & Company (NYSE:DE)

Cerro Pacific Wealth Advisors LLC lessened its holdings in shares of Deere & Company (NYSE:DE) by 0.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,891 shares of the industrial products company’s stock after selling 33 shares during the period. Cerro Pacific Wealth Advisors LLC’s holdings in Deere & Company were worth $1,624,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Livelsberger Financial Advisory acquired a new position in Deere & Company in the third quarter valued at about $32,000. Modus Advisors LLC bought a new position in Deere & Company in the 4th quarter valued at about $32,000. Centennial Bank AR raised its position in shares of Deere & Company by 420.0% in the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after buying an additional 84 shares in the last quarter. Continuum Advisory LLC lifted its holdings in shares of Deere & Company by 155.8% during the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 67 shares during the period. Finally, Darwin Wealth Management LLC acquired a new stake in shares of Deere & Company during the 3rd quarter worth approximately $47,000. 68.58% of the stock is owned by institutional investors.

Deere & Company Trading Up 3.4 %

Shares of DE stock opened at $475.22 on Friday. Deere & Company has a 1-year low of $340.20 and a 1-year high of $475.92. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89. The stock has a market cap of $129.43 billion, a price-to-earnings ratio of 18.56, a PEG ratio of 2.86 and a beta of 0.98. The stock has a 50-day moving average of $435.34 and a 200-day moving average of $404.30.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share 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 the consensus estimate of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The company’s revenue for the quarter was down 32.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $8.26 EPS. On average, equities research analysts forecast that Deere & Company will post 19.34 earnings per share for the current year.

Deere & Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be issued a $1.62 dividend. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.48 annualized dividend and a yield of 1.36%. Deere & Company’s payout ratio is presently 25.31%.

Analyst Upgrades and Downgrades

DE has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped 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, January 15th. Morgan Stanley raised their price objective on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Jefferies Financial Group cut Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a research report on Friday, December 6th. Barclays raised their price target on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Finally, Citigroup dropped their price objective 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. Eleven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $442.83.

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.