Keystone Financial Group Inc. Buys Shares of 303 Deere & Company (NYSE:DE)

Keystone Financial Group Inc. bought a new stake in Deere & Company (NYSE:DE) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 303 shares of the industrial products company’s stock, valued at approximately $129,000.

Several other institutional investors and hedge funds also recently bought and sold shares of DE. Livelsberger Financial Advisory acquired a new position in shares of Deere & Company in the 3rd quarter worth approximately $32,000. Modus Advisors LLC acquired a new position in shares of Deere & Company in the 4th quarter worth approximately $32,000. YANKCOM Partnership acquired a new position in shares of Deere & Company in the 4th quarter worth approximately $34,000. Synergy Asset Management LLC acquired a new position in shares of Deere & Company in the 4th quarter worth approximately $35,000. Finally, Continuum Advisory LLC lifted its holdings in Deere & Company by 155.8% during the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after buying an additional 67 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Price Performance

Shares of NYSE:DE opened at $464.69 on Friday. The company’s fifty day moving average price is $445.03 and its 200 day moving average price is $411.89. Deere & Company has a 12 month low of $340.20 and a 12 month high of $485.84. 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 firm has a market capitalization of $126.56 billion, a P/E ratio of 18.15, a P/E/G ratio of 2.94 and a beta of 0.98.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping the consensus estimate of $3.89 by $0.66. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The firm had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. During the same period last year, the business earned $8.26 EPS. Deere & Company’s revenue for the quarter was down 32.8% compared to the same quarter last year. As a group, sell-side analysts predict that Deere & Company will post 19.38 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be paid a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. 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 1.39%. Deere & Company’s payout ratio is currently 25.31%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. UBS Group increased their target price on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Morgan Stanley increased their target price on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Truist Financial increased their target price on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Barclays increased their target price on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Finally, Citigroup reduced their target price 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. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $444.50.

Deere & Company 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.