Mayfair Advisory Group LLC Takes $215,000 Position in Deere & Company (NYSE:DE)

Mayfair Advisory Group LLC purchased a new stake in shares of Deere & Company (NYSE:DE) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 507 shares of the industrial products company’s stock, valued at approximately $215,000.

Several other institutional investors have also added to or reduced their stakes in the company. Federated Hermes Inc. increased its stake in Deere & Company by 2.1% during the second quarter. Federated Hermes Inc. now owns 15,896 shares of the industrial products company’s stock worth $5,939,000 after acquiring an additional 332 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in Deere & Company by 12.7% in the second quarter. Envestnet Asset Management Inc. now owns 303,541 shares of the industrial products company’s stock worth $113,412,000 after buying an additional 34,262 shares during the last quarter. One Capital Management LLC purchased a new position in Deere & Company during the second quarter worth $272,000. Excalibur Management Corp increased its position in Deere & Company by 32.0% during the second quarter. Excalibur Management Corp now owns 2,183 shares of the industrial products company’s stock valued at $816,000 after acquiring an additional 529 shares during the last quarter. Finally, Moors & Cabot Inc. raised its stake in shares of Deere & Company by 7.4% in the second quarter. Moors & Cabot Inc. now owns 16,406 shares of the industrial products company’s stock valued at $6,130,000 after acquiring an additional 1,137 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Up 0.5 %

Shares of NYSE DE opened at $432.17 on Wednesday. Deere & Company has a 12-month low of $340.20 and a 12-month high of $469.39. The stock’s fifty day simple moving average is $429.20 and its two-hundred day simple moving average is $400.87. The stock has a market capitalization of $118.24 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 1.88 and a beta of 0.96. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating analysts’ consensus estimates of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The company had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. During the same quarter last year, the company earned $8.26 earnings per share. The firm’s revenue for the quarter was down 32.8% compared to the same quarter last year. As a group, analysts expect that Deere & Company will post 19.41 EPS for the current fiscal year.

Deere & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Stockholders 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 represents a $6.48 dividend on an annualized basis and a dividend yield of 1.50%. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s payout ratio is presently 22.97%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Barclays upped their price target 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. Oppenheimer increased their price target on Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. UBS Group boosted their price objective on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Morgan Stanley increased their target price on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Finally, Jefferies Financial Group cut shares of 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. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Deere & Company currently has a consensus rating of “Hold” and a consensus target price of $441.72.

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.