Deere & Company (NYSE:DE) Shares Bought by Obermeyer Wood Investment Counsel Lllp

Obermeyer Wood Investment Counsel Lllp boosted its stake in Deere & Company (NYSE:DE) by 11.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,933 shares of the industrial products company’s stock after buying an additional 191 shares during the quarter. Obermeyer Wood Investment Counsel Lllp’s holdings in Deere & Company were worth $773,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. RB Capital Management LLC lifted its stake in Deere & Company by 5.2% in the 1st quarter. RB Capital Management LLC now owns 1,637 shares of the industrial products company’s stock worth $680,000 after purchasing an additional 81 shares in the last quarter. Bornite Capital Management LP purchased a new position in Deere & Company in the 1st quarter worth approximately $14,541,000. Retirement Income Solutions Inc purchased a new position in Deere & Company in the 1st quarter worth approximately $229,000. Sequoia Financial Advisors LLC lifted its stake in Deere & Company by 27.1% in the 1st quarter. Sequoia Financial Advisors LLC now owns 2,442 shares of the industrial products company’s stock worth $1,014,000 after purchasing an additional 521 shares in the last quarter. Finally, Baird Financial Group Inc. lifted its stake in Deere & Company by 32.4% in the 1st quarter. Baird Financial Group Inc. now owns 114,322 shares of the industrial products company’s stock worth $47,496,000 after purchasing an additional 27,985 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DE has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft cut their price target on shares of Deere & Company from $425.00 to $401.00 and set a “hold” rating for the company in a report on Friday, February 16th. Truist Financial assumed coverage on shares of Deere & Company in a research note on Thursday, March 14th. They set a “buy” rating and a $494.00 price target on the stock. Wells Fargo & Company dropped their price target on shares of Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a research note on Friday, February 16th. JPMorgan Chase & Co. boosted their price target on shares of Deere & Company from $415.00 to $425.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Finally, Citigroup dropped their price target on shares of Deere & Company from $450.00 to $435.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $433.28.

Deere & Company Price Performance

Shares of NYSE DE traded up $3.99 on Thursday, hitting $400.87. The company’s stock had a trading volume of 1,562,911 shares, compared to its average volume of 1,501,047. Deere & Company has a 12-month low of $345.55 and a 12-month high of $450.00. The company has a market capitalization of $111.59 billion, a price-to-earnings ratio of 11.68, a price-to-earnings-growth ratio of 1.48 and a beta of 1.04. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.05 and a quick ratio of 1.81. The stock has a 50 day moving average of $385.17 and a 200-day moving average of $382.66.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) 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 company had revenue of $10.49 billion for the quarter, compared to the consensus estimate of $10.30 billion. During the same quarter in the prior year, the firm earned $6.55 earnings per share. The company’s revenue for the quarter was down 8.0% compared to the same quarter last year. As a group, research analysts predict that Deere & Company will post 27.39 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th will be issued a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 1.47%. The ex-dividend date is Wednesday, March 27th. Deere & Company’s dividend payout ratio (DPR) is presently 17.12%.

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.