Jacksonville Wealth Management LLC Purchases Shares of 5,950 Deere & Company (NYSE:DE)

Jacksonville Wealth Management LLC acquired a new stake in Deere & Company (NYSE:DE) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 5,950 shares of the industrial products company’s stock, valued at approximately $2,521,000. Deere & Company comprises approximately 2.4% of Jacksonville Wealth Management LLC’s investment portfolio, making the stock its 11th largest position.

Several other large investors also recently modified their holdings of the stock. Everence Capital Management Inc. grew its holdings in Deere & Company by 148.3% in the 4th quarter. Everence Capital Management Inc. now owns 12,223 shares of the industrial products company’s stock valued at $5,179,000 after buying an additional 7,300 shares in the last quarter. Stockbridge Partners LLC grew its stake in shares of Deere & Company by 157.5% in the third quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock valued at $369,019,000 after acquiring an additional 540,874 shares in the last quarter. Toronto Dominion Bank increased its position in Deere & Company by 1.5% during the third quarter. Toronto Dominion Bank now owns 86,952 shares of the industrial products company’s stock worth $36,288,000 after acquiring an additional 1,291 shares during the period. Chase Investment Counsel Corp raised its stake in Deere & Company by 53.8% in the 3rd quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock worth $1,669,000 after purchasing an additional 1,400 shares in the last quarter. Finally, Czech National Bank boosted its holdings in Deere & Company by 5.7% in the 4th quarter. Czech National Bank now owns 55,170 shares of the industrial products company’s stock valued at $23,376,000 after purchasing an additional 2,964 shares during the period. 68.58% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on DE. Truist Financial raised 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 lifted their price objective on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. UBS Group increased their target price on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Morgan Stanley boosted their price target 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, JPMorgan Chase & Co. increased their price objective on shares of Deere & Company from $450.00 to $470.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 15th. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $442.83.

Deere & Company Stock Up 0.9 %

Shares of DE opened at $478.90 on Friday. The stock has a market capitalization of $130.43 billion, a price-to-earnings ratio of 18.71, a PEG ratio of 2.84 and a beta of 0.98. Deere & Company has a 52 week low of $340.20 and a 52 week high of $479.48. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. The stock has a fifty day moving average of $438.55 and a 200-day moving average of $405.66.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, beating the consensus estimate of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The firm had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. During the same period last year, the company earned $8.26 earnings per share. The business’s quarterly revenue was down 32.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Deere & Company will post 19.34 earnings per share 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 given a $1.62 dividend. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend is Tuesday, December 31st. Deere & Company’s dividend payout ratio is 25.31%.

Deere & 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.