Stonegate Investment Group LLC Purchases 1,291 Shares of Deere & Company (NYSE:DE)

Stonegate Investment Group LLC grew its position in Deere & Company (NYSE:DE) by 1.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 115,333 shares of the industrial products company’s stock after acquiring an additional 1,291 shares during the period. Stonegate Investment Group LLC’s holdings in Deere & Company were worth $48,867,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of DE. Livelsberger Financial Advisory acquired a new stake in shares of Deere & Company during the 3rd quarter worth about $32,000. Modus Advisors LLC acquired a new stake in shares of Deere & Company during the 4th quarter worth about $32,000. Centennial Bank AR lifted its stake in shares of Deere & Company by 420.0% during the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after buying an additional 84 shares during the last quarter. Continuum Advisory LLC lifted its stake in shares of 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 during the last quarter. Finally, Darwin Wealth Management LLC acquired a new stake in shares of Deere & Company during the 3rd quarter worth about $47,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Deere & Company stock opened at $484.08 on Tuesday. 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 stock has a market cap of $131.84 billion, a PE ratio of 18.91, a P/E/G ratio of 2.84 and a beta of 0.98. Deere & Company has a 12-month low of $340.20 and a 12-month high of $484.39. The business’s 50-day moving average price is $438.55 and its two-hundred day moving average price is $406.44.

Deere & Company (NYSE:DE) last issued its earnings results 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 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 quarter last year, the business posted $8.26 earnings per share. The company’s quarterly revenue was down 32.8% on a year-over-year basis. As a group, analysts expect that Deere & Company will post 19.34 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $1.62 per share. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a dividend yield of 1.34%. The ex-dividend date is Tuesday, December 31st. Deere & Company’s payout ratio is 25.31%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on DE shares. JPMorgan Chase & Co. raised their target price 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. UBS Group raised their target price on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Truist Financial lifted their price objective on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Oppenheimer lifted their price objective on shares of Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Finally, Citigroup dropped their price objective on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Eleven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $442.83.

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.