Fourth Dimension Wealth LLC Purchases Shares of 270 Deere & Company (NYSE:DE)

Fourth Dimension Wealth LLC purchased a new stake in Deere & Company (NYSE:DE) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 270 shares of the industrial products company’s stock, valued at approximately $114,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pineridge Advisors LLC boosted its position in Deere & Company by 60.5% in the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after buying an additional 26 shares in the last quarter. YANKCOM Partnership acquired a new position in Deere & Company in the fourth quarter valued at about $34,000. Orion Capital Management LLC acquired a new position in Deere & Company in the fourth quarter valued at about $34,000. Synergy Asset Management LLC acquired a new position in Deere & Company in the fourth quarter valued at about $35,000. Finally, Sierra Ocean LLC acquired a new position in Deere & Company in the fourth quarter valued at about $44,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Trading Down 1.1%

DE opened at $509.83 on Friday. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. The company has a market cap of $138.37 billion, a price-to-earnings ratio of 22.60, a price-to-earnings-growth ratio of 2.14 and a beta of 1.08. The firm has a 50 day simple moving average of $472.60 and a 200 day simple moving average of $458.36. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $533.78.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, topping analysts’ consensus estimates of $5.72 by $0.92. The business had revenue of $11.17 billion during the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. Deere & Company’s revenue for the quarter was down 17.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $8.53 earnings per share. On average, sell-side analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 8th. Investors of record on Monday, March 31st were paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend was Monday, March 31st. Deere & Company’s dividend payout ratio (DPR) is 31.35%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on DE shares. Morgan Stanley boosted their price target on shares of Deere & Company from $450.00 to $500.00 and gave the company an “overweight” rating in a research report on Wednesday, April 16th. JPMorgan Chase & Co. boosted their target price on shares of Deere & Company from $490.00 to $540.00 and gave the stock a “neutral” rating in a research note on Friday, May 16th. Citigroup boosted their target price on shares of Deere & Company from $450.00 to $550.00 and gave the stock a “neutral” rating in a research note on Monday, May 19th. Barclays boosted their target price on shares of Deere & Company from $475.00 to $530.00 and gave the stock an “overweight” rating in a research note on Friday, May 16th. Finally, UBS Group dropped their target price on shares of Deere & Company from $462.00 to $440.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. Thirteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Deere & Company presently has an average rating of “Hold” and an average target price of $516.75.

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.