Kingsview Wealth Management LLC Purchases 1,343 Shares of Deere & Company (NYSE:DE)

Kingsview Wealth Management LLC lifted its position in Deere & Company (NYSE:DE) by 32.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,507 shares of the industrial products company’s stock after purchasing an additional 1,343 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Deere & Company were worth $2,333,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of DE. Modus Advisors LLC purchased a new stake in Deere & Company during the fourth quarter valued at about $32,000. Livelsberger Financial Advisory bought a new stake in shares of Deere & Company in the 3rd quarter valued at about $32,000. YANKCOM Partnership purchased a new stake in Deere & Company during the 4th quarter valued at about $34,000. Synergy Asset Management LLC bought a new position in Deere & Company during the 4th quarter worth approximately $35,000. Finally, Continuum Advisory LLC increased its stake in Deere & Company by 155.8% in the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 67 shares during the period. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Up 1.0 %

NYSE:DE opened at $470.22 on Tuesday. Deere & Company has a 1-year low of $340.20 and a 1-year high of $485.84. The company has a market capitalization of $128.06 billion, a PE ratio of 18.37, a P/E/G ratio of 2.87 and a beta of 0.98. The firm’s 50-day moving average price is $445.00 and its 200-day moving average price is $413.46. 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 announced 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. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The business had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. During the same quarter last year, the firm earned $8.26 earnings per share. The business’s revenue for the quarter was down 32.8% on a year-over-year basis. On average, equities analysts predict that Deere & Company will post 19.38 EPS for the current fiscal year.

Deere & Company Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st were issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.38%. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date was Tuesday, December 31st. Deere & Company’s payout ratio is 25.31%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. UBS Group increased their price objective on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Citigroup cut their price target on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Barclays upped their price objective 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. Truist Financial raised their target price on Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, Jefferies Financial Group downgraded Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target on the stock. in a report on Friday, December 6th. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Deere & Company has a consensus rating of “Hold” and an average target price of $446.17.

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.