First Pacific Financial Purchases 914 Shares of Deere & Company (NYSE:DE)

First Pacific Financial increased its position in shares of Deere & Company (NYSE:DE) by 648.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,055 shares of the industrial products company’s stock after buying an additional 914 shares during the quarter. First Pacific Financial’s holdings in Deere & Company were worth $447,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in shares of Deere & Company by 32.0% in the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock worth $3,068,404,000 after purchasing an additional 1,782,984 shares during the last quarter. Geode Capital Management LLC lifted its stake in Deere & Company by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company’s stock valued at $2,168,737,000 after acquiring an additional 31,459 shares in the last quarter. FMR LLC boosted its holdings in Deere & Company by 27.8% during the 3rd quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock worth $1,895,518,000 after acquiring an additional 988,380 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Deere & Company by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 2,254,266 shares of the industrial products company’s stock worth $842,259,000 after acquiring an additional 60,255 shares in the last quarter. Finally, Fisher Asset Management LLC raised its holdings in shares of Deere & Company by 8.6% in the third quarter. Fisher Asset Management LLC now owns 1,994,657 shares of the industrial products company’s stock valued at $832,431,000 after purchasing an additional 158,732 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Up 2.4 %

Shares of NYSE DE opened at $439.29 on Friday. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89. The business has a 50-day moving average of $429.66 and a 200-day moving average of $401.06. The firm has a market capitalization of $119.30 billion, a price-to-earnings ratio of 17.16, a PEG ratio of 1.74 and a beta of 0.98. Deere & Company has a 12 month low of $340.20 and a 12 month high of $469.39.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.89 by $0.66. The business 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 previous year, the business posted $8.26 earnings per share. Sell-side analysts expect that Deere & Company will post 19.57 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be given 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 annualized dividend and a yield of 1.48%. Deere & Company’s payout ratio is 25.31%.

Wall Street Analysts Forecast Growth

Several research firms have commented on DE. Jefferies Financial Group cut shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a research report on Friday, December 6th. Morgan Stanley lifted their price target on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Oppenheimer upped their price objective on Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Truist Financial lifted 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, 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. Eleven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Deere & Company has a consensus rating of “Hold” and an average price target of $442.83.

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.