Blue Chip Partners LLC Has $669,000 Stock Position in Deere & Company (NYSE:DE)

Blue Chip Partners LLC grew its stake in shares of Deere & Company (NYSE:DE) by 32.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,579 shares of the industrial products company’s stock after acquiring an additional 389 shares during the period. Blue Chip Partners LLC’s holdings in Deere & Company were worth $669,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Pineridge Advisors LLC grew its holdings in Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after buying an additional 26 shares in the last quarter. Livelsberger Financial Advisory acquired a new stake in shares of Deere & Company in the third quarter valued at approximately $32,000. Modus Advisors LLC bought a new position in Deere & Company during the 4th quarter worth $32,000. YANKCOM Partnership bought a new position in Deere & Company during the 4th quarter worth $34,000. Finally, Synergy Asset Management LLC acquired a new position in Deere & Company in the 4th quarter valued at $35,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Up 3.0 %

DE opened at $480.17 on Monday. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $485.84. The firm has a market capitalization of $130.77 billion, a PE ratio of 18.76, a P/E/G ratio of 2.87 and a beta of 0.98. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. The company’s 50-day moving average is $446.95 and its 200 day moving average is $416.83.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, topping analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. As a group, research analysts predict that Deere & Company will post 19.38 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Tuesday, December 31st were given a $1.62 dividend. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date was Tuesday, December 31st. Deere & Company’s dividend payout ratio is presently 25.31%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on DE. 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 research report on Friday, December 6th. Barclays raised their target price on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Citigroup boosted their target price on shares of Deere & Company from $430.00 to $480.00 and gave the company a “neutral” rating in a research report on Friday. Morgan Stanley increased their price target on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Finally, UBS Group lifted their target price on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Eleven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $450.12.

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.