Fairvoy Private Wealth LLC Acquires Shares of 1,893 Deere & Company (NYSE:DE)

Fairvoy Private Wealth LLC bought a new position in shares of Deere & Company (NYSE:DE) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,893 shares of the industrial products company’s stock, valued at approximately $802,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DE. Everence Capital Management Inc. increased its stake in shares of Deere & Company by 148.3% during the 4th quarter. Everence Capital Management Inc. now owns 12,223 shares of the industrial products company’s stock worth $5,179,000 after purchasing an additional 7,300 shares during the last quarter. Stockbridge Partners LLC raised its position in shares of Deere & Company by 157.5% in the third quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock valued at $369,019,000 after purchasing an additional 540,874 shares during the period. Toronto Dominion Bank lifted its stake in shares of Deere & Company by 1.5% during the 3rd quarter. Toronto Dominion Bank now owns 86,952 shares of the industrial products company’s stock valued at $36,288,000 after buying an additional 1,291 shares in the last quarter. Chase Investment Counsel Corp boosted its holdings in Deere & Company by 53.8% in the 3rd quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock worth $1,669,000 after buying an additional 1,400 shares during the period. Finally, Czech National Bank raised its holdings in Deere & Company by 5.7% during the 4th quarter. Czech National Bank now owns 55,170 shares of the industrial products company’s stock valued at $23,376,000 after acquiring an additional 2,964 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

NYSE:DE opened at $464.69 on Friday. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $485.84. The business has a 50 day moving average price of $445.03 and a 200-day moving average price of $411.89. The firm has a market cap of $126.56 billion, a PE ratio of 18.15, a price-to-earnings-growth ratio of 2.94 and a beta of 0.98.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share 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 analyst estimates of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. Deere & Company’s revenue for the quarter was down 32.8% on a year-over-year basis. During the same period in the prior year, the business posted $8.26 earnings per share. Equities research analysts predict that Deere & Company will post 19.38 earnings per share for the current year.

Deere & Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be paid a $1.62 dividend. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date is Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.39%. Deere & Company’s dividend payout ratio (DPR) is presently 25.31%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on DE. Barclays raised their price target on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Jefferies Financial Group lowered Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price for the company. in a report on Friday, December 6th. JPMorgan Chase & Co. increased their price target on shares of Deere & Company from $450.00 to $470.00 and gave the stock a “neutral” rating in a report on Wednesday, January 15th. Truist Financial boosted their price objective on shares of Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, Citigroup lowered their target price on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Deere & Company currently has an average rating of “Hold” and a consensus price target of $444.50.

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.