Ingalls & Snyder LLC Boosts Stock Position in Deere & Company (NYSE:DE)

Ingalls & Snyder LLC grew its stake in shares of Deere & Company (NYSE:DE) by 1.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,095 shares of the industrial products company’s stock after buying an additional 654 shares during the period. Deere & Company accounts for 1.0% of Ingalls & Snyder LLC’s portfolio, making the stock its 22nd biggest holding. Ingalls & Snyder LLC’s holdings in Deere & Company were worth $25,886,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Marks Group Wealth Management Inc lifted its position in shares of Deere & Company by 0.8% during the 4th quarter. Marks Group Wealth Management Inc now owns 3,156 shares of the industrial products company’s stock valued at $1,337,000 after buying an additional 26 shares in the last quarter. Lester Murray Antman dba SimplyRich lifted its position in shares of Deere & Company by 8.7% during the 4th quarter. Lester Murray Antman dba SimplyRich now owns 1,024 shares of the industrial products company’s stock valued at $433,000 after buying an additional 82 shares in the last quarter. Avidian Wealth Enterprises LLC lifted its position in shares of Deere & Company by 4.5% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 1,119 shares of the industrial products company’s stock valued at $474,000 after buying an additional 48 shares in the last quarter. Valley Brook Capital Group Inc. lifted its position in shares of Deere & Company by 0.8% during the 4th quarter. Valley Brook Capital Group Inc. now owns 5,164 shares of the industrial products company’s stock valued at $2,188,000 after buying an additional 40 shares in the last quarter. Finally, Gladstone Institutional Advisory LLC lifted its position in shares of Deere & Company by 131.5% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 1,843 shares of the industrial products company’s stock valued at $781,000 after buying an additional 1,047 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. UBS Group boosted their price target on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Citigroup lowered their price target on Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Jefferies Financial Group cut 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. Truist Financial boosted their price target on Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, Barclays boosted 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. Eleven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Deere & Company currently has an average rating of “Hold” and a consensus price target of $446.17.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $476.53 on Thursday. The stock’s fifty day moving average is $445.46 and its two-hundred day moving average is $414.70. The company has a market capitalization of $129.78 billion, a PE ratio of 18.61, a price-to-earnings-growth ratio of 2.87 and a beta of 0.98. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. Deere & Company has a 52 week low of $340.20 and a 52 week high of $485.84.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, beating the consensus estimate of $3.89 by $0.66. The company had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. Deere & Company’s quarterly revenue was down 32.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $8.26 EPS. As a group, analysts expect that Deere & Company will post 19.38 earnings per share for the current year.

Deere & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st were given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.36%. The ex-dividend date was Tuesday, December 31st. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio is 25.31%.

Deere & 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.