Grove Bank & Trust Has $678,000 Stock Position in Deere & Company (NYSE:DE)

Grove Bank & Trust raised its stake in shares of Deere & Company (NYSE:DE) by 2.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 1,601 shares of the industrial products company’s stock after purchasing an additional 41 shares during the period. Grove Bank & Trust’s holdings in Deere & Company were worth $678,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of DE. Brady Martz Wealth Solutions LLC bought a new position in Deere & Company in the 4th quarter worth about $628,000. Ballast Inc. lifted its holdings in shares of Deere & Company by 5.0% during the 4th quarter. Ballast Inc. now owns 3,582 shares of the industrial products company’s stock worth $1,518,000 after acquiring an additional 171 shares during the last quarter. Lbmc Investment Advisors LLC purchased a new position in Deere & Company in the fourth quarter worth $216,000. Liberty One Investment Management LLC lifted its stake in Deere & Company by 6.9% during the fourth quarter. Liberty One Investment Management LLC now owns 10,793 shares of the industrial products company’s stock worth $4,573,000 after purchasing an additional 693 shares during the last quarter. Finally, Joule Financial LLC increased its position in shares of Deere & Company by 24.7% during the 4th quarter. Joule Financial LLC now owns 1,727 shares of the industrial products company’s stock valued at $732,000 after purchasing an additional 342 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Up 4.0 %

Shares of Deere & Company stock opened at $456.57 on Monday. Deere & Company has a 1 year low of $340.20 and a 1 year high of $469.39. The firm has a market cap of $124.35 billion, a price-to-earnings ratio of 17.83, a PEG ratio of 1.74 and a beta of 0.98. The company has a 50-day moving average of $431.48 and a 200 day moving average of $402.25. 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 issued its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping analysts’ consensus estimates of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The firm had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.20 billion. During the same period in the previous year, the firm posted $8.26 EPS. The business’s revenue for the quarter was down 32.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Deere & Company will post 19.57 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The company also recently disclosed 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 yield of 1.42%. This is an increase 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 25.31%.

Analyst Ratings Changes

Several brokerages have issued reports on DE. 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. UBS Group boosted their price target on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Truist Financial raised their price objective 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 reduced their price target on Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Finally, Oppenheimer boosted their price objective on Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $442.83.

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.