Weatherly Asset Management L. P. Purchases 1,184 Shares of Deere & Company (NYSE:DE)

Weatherly Asset Management L. P. grew its position in Deere & Company (NYSE:DE) by 13.3% in the fourth quarter, Holdings Channel reports. The fund owned 10,060 shares of the industrial products company’s stock after acquiring an additional 1,184 shares during the quarter. Weatherly Asset Management L. P.’s holdings in Deere & Company were worth $4,037,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Briaud Financial Planning Inc bought a new position in shares of Deere & Company in the 3rd quarter valued at $25,000. Rakuten Securities Inc. acquired a new stake in Deere & Company in the fourth quarter valued at $28,000. Naples Money Management LLC acquired a new stake in Deere & Company in the fourth quarter valued at $29,000. ZRC Wealth Management LLC acquired a new stake in Deere & Company in the fourth quarter valued at $28,000. Finally, Milestone Investment Advisors LLC acquired a new stake in Deere & Company in the third quarter valued at $37,000. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Down 0.6 %

NYSE DE traded down $2.32 during trading hours on Tuesday, hitting $397.29. The company’s stock had a trading volume of 1,277,979 shares, compared to its average volume of 1,487,179. Deere & Company has a 52 week low of $345.55 and a 52 week high of $450.00. The company has a market capitalization of $110.59 billion, a PE ratio of 11.75, a price-to-earnings-growth ratio of 1.50 and a beta of 1.04. The company has a current ratio of 2.05, a quick ratio of 1.81 and a debt-to-equity ratio of 1.81. The company’s 50-day simple moving average is $386.06 and its two-hundred day simple moving average is $383.26.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, beating the consensus estimate of $5.19 by $1.04. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The business had revenue of $10.49 billion for the quarter, compared to analysts’ expectations of $10.30 billion. During the same quarter last year, the firm earned $6.55 EPS. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year. Research analysts anticipate that Deere & Company will post 27.4 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company 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 annualized dividend and a dividend yield of 1.48%. Deere & Company’s dividend payout ratio is currently 17.12%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Wells Fargo & Company decreased their price objective on Deere & Company from $445.00 to $425.00 and set an “overweight” rating for the company in a report on Friday, February 16th. Truist Financial started coverage on Deere & Company in a report on Thursday, March 14th. They issued a “buy” rating and a $494.00 price objective for the company. Melius downgraded Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, January 8th. JPMorgan Chase & Co. increased their price target on Deere & Company from $415.00 to $425.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Finally, Morgan Stanley started coverage on Deere & Company in a report on Monday, January 8th. They set an “overweight” rating and a $430.00 price target for the company. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $433.28.

Deere & Company Company Profile

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.