BankPlus Wealth Management LLC Makes New $311,000 Investment in Deere & Company (NYSE:DE)

BankPlus Wealth Management LLC bought a new stake in Deere & Company (NYSE:DE) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 734 shares of the industrial products company’s stock, valued at approximately $311,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Wellington Management Group LLP increased its stake in shares of Deere & Company by 32.0% during the 3rd 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. FMR LLC grew its holdings in Deere & Company by 27.8% during the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock valued at $1,895,518,000 after purchasing an additional 988,380 shares during the period. Pathway Financial Advisers LLC increased its position in Deere & Company by 53,338.6% in the third quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock worth $356,602,000 after buying an additional 852,885 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of Deere & Company by 46,892.9% in the third quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company’s stock valued at $322,218,000 after buying an additional 770,451 shares during the period. Finally, Stockbridge Partners LLC lifted its position in shares of Deere & Company by 157.5% during the 3rd quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock valued at $369,019,000 after buying an additional 540,874 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Oppenheimer lifted their price objective on Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. boosted their price target on shares of Deere & Company from $450.00 to $470.00 and gave the company a “neutral” rating in a research report on Wednesday, January 15th. UBS Group lifted their price objective on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Morgan Stanley boosted their price objective on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Finally, Citigroup reduced their target price on Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Eleven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $442.83.

Deere & Company Trading Up 1.1 %

Shares of DE stock opened at $484.08 on Tuesday. The business has a 50-day moving average price of $438.55 and a two-hundred day moving average price of $406.44. Deere & Company has a 12-month low of $340.20 and a 12-month high of $484.39. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. The firm has a market cap of $131.84 billion, a P/E ratio of 18.91, a price-to-earnings-growth ratio of 2.84 and a beta of 0.98.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, topping 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 return on equity of 31.32% and a net margin of 13.73%. Deere & Company’s revenue for the quarter was down 32.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $8.26 earnings per share. Equities analysts anticipate that Deere & Company will post 19.34 EPS for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently declared 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 an increase from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a yield of 1.34%. Deere & Company’s payout ratio is currently 25.31%.

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.