Graypoint LLC Raises Stock Holdings in Deere & Company (NYSE:DE)

Graypoint LLC increased its position in Deere & Company (NYSE:DE) by 3.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,491 shares of the industrial products company’s stock after purchasing an additional 114 shares during the period. Graypoint LLC’s holdings in Deere & Company were worth $1,479,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DE. Fairscale Capital LLC purchased a new stake in shares of Deere & Company in the second quarter worth $26,000. Livelsberger Financial Advisory purchased a new stake in shares of Deere & Company in the third quarter worth $32,000. Modus Advisors LLC purchased a new stake in shares of Deere & Company in the fourth quarter worth $32,000. Centennial Bank AR grew its stake in shares of Deere & Company by 420.0% in the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 84 shares during the last quarter. Finally, Continuum Advisory LLC grew its stake in shares of Deere & Company by 155.8% in the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 67 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Down 0.4 %

NYSE DE opened at $408.45 on Friday. The stock’s 50-day moving average price is $427.99 and its 200-day moving average price is $399.70. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. Deere & Company has a 52 week low of $340.20 and a 52 week high of $469.39. The company has a market capitalization of $110.92 billion, a P/E ratio of 15.96, a price-to-earnings-growth ratio of 1.91 and a beta of 0.98.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping the consensus estimate of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The firm had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. During the same quarter last year, the company earned $8.26 earnings per share. The business’s revenue for the quarter was down 32.8% compared to the same quarter last year. On average, equities research analysts predict that Deere & Company will post 19.52 earnings per share for the current year.

Deere & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be paid a $1.62 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.59%. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio (DPR) is 25.31%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. UBS Group increased their target price on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Morgan Stanley upped their price target on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Jefferies Financial Group downgraded Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target on the stock. in a report on Friday, December 6th. JPMorgan Chase & Co. upped their price target on Deere & Company from $420.00 to $450.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Finally, Barclays upped their price target on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $443.94.

About Deere & Company

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.