Deere & Company (NYSE:DE) Shares Purchased by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. boosted its holdings in Deere & Company (NYSE:DEFree Report) by 21.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 5,355 shares of the industrial products company’s stock after purchasing an additional 939 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Deere & Company were worth $2,141,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Retirement Group LLC raised its holdings in Deere & Company by 264.7% during the 2nd quarter. Retirement Group LLC now owns 62 shares of the industrial products company’s stock worth $25,000 after buying an additional 45 shares during the period. Briaud Financial Planning Inc acquired a new stake in Deere & Company during the 3rd quarter worth about $25,000. ZRC Wealth Management LLC acquired a new stake in Deere & Company during the 4th quarter worth about $28,000. Worth Asset Management LLC acquired a new stake in Deere & Company during the 1st quarter worth about $28,000. Finally, Milestone Investment Advisors LLC acquired a new stake in Deere & Company during the 3rd quarter worth about $37,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on DE. Deutsche Bank Aktiengesellschaft cut their price objective on Deere & Company from $425.00 to $401.00 and set a “hold” rating on the stock in a report on Friday, February 16th. Morgan Stanley initiated coverage on Deere & Company in a report on Monday, January 8th. They issued an “overweight” rating and a $430.00 target price on the stock. Truist Financial initiated coverage on Deere & Company in a report on Thursday, March 14th. They issued a “buy” rating and a $494.00 target price on the stock. Wells Fargo & Company dropped their target price on Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a report on Friday, February 16th. Finally, Citigroup dropped their target price on Deere & Company from $450.00 to $435.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $431.28.

Check Out Our Latest Stock Analysis on Deere & Company

Deere & Company Trading Down 1.6 %

NYSE:DE opened at $404.14 on Tuesday. The company has a market capitalization of $112.50 billion, a P/E ratio of 11.77, a P/E/G ratio of 1.54 and a beta of 1.04. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.81 and a current ratio of 2.05. The stock’s 50 day moving average price is $381.59 and its 200 day moving average price is $381.51. Deere & Company has a 52 week low of $345.55 and a 52 week high of $450.00.

Deere & Company (NYSE:DEGet Free Report) last announced its earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.19 by $1.04. The firm had revenue of $10.49 billion during the quarter, compared to analysts’ expectations of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The company’s revenue was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $6.55 earnings per share. On average, research analysts forecast that Deere & Company will post 27.41 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th will be given a dividend of $1.47 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $5.88 dividend on an annualized basis and a yield of 1.45%. Deere & Company’s payout ratio is currently 17.12%.

About Deere & Company

(Free Report)

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.

See Also

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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