FourThought Financial LLC Grows Stake in Deere & Company (NYSE:DE)

Posted by on Mar 16th, 2023

FourThought Financial LLC grew its holdings in shares of Deere & Company (NYSE:DE – Get Rating) by 2.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,774 shares of the industrial products company’s stock after buying an additional 36 shares during the period. FourThought Financial LLC’s holdings in Deere & Company were worth $592,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Worth Asset Management LLC bought a new position in Deere & Company in the 1st quarter worth $28,000. Riggs Asset Managment Co. Inc. raised its stake in Deere & Company by 411.8% in the third quarter. Riggs Asset Managment Co. Inc. now owns 87 shares of the industrial products company’s stock worth $29,000 after buying an additional 70 shares in the last quarter. Bell Investment Advisors Inc lifted its holdings in Deere & Company by 64.3% in the third quarter. Bell Investment Advisors Inc now owns 92 shares of the industrial products company’s stock worth $31,000 after buying an additional 36 shares during the period. IFS Advisors LLC bought a new stake in Deere & Company during the 3rd quarter valued at approximately $35,000. Finally, Standard Family Office LLC purchased a new position in shares of Deere & Company during the 3rd quarter worth approximately $41,000. Institutional investors own 75.72% of the company’s stock.

Wall Street Analysts Forecast Growth

DE has been the topic of a number of recent research reports. Robert W. Baird upped their price objective on shares of Deere & Company from $470.00 to $512.00 and gave the stock an “outperform” rating in a report on Friday, February 17th. Bank of America upped their price target on Deere & Company from $478.00 to $484.00 in a research report on Monday, February 20th. Citigroup lifted their price objective on Deere & Company from $425.00 to $505.00 and gave the company a “buy” rating in a research report on Thursday, December 1st. StockNews.com initiated coverage on shares of Deere & Company in a research note on Thursday. They set a “buy” rating on the stock. Finally, Oppenheimer upped their price target on shares of Deere & Company from $415.00 to $492.00 in a research report on Wednesday, November 23rd. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $460.81.

Deere & Company Trading Down 3.0 %

Shares of DE opened at $390.48 on Thursday. The stock has a market capitalization of $115.71 billion, a PE ratio of 14.48, a P/E/G ratio of 1.05 and a beta of 1.05. The company’s fifty day moving average is $418.87 and its 200 day moving average is $402.94. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.76 and a current ratio of 2.07. Deere & Company has a fifty-two week low of $283.81 and a fifty-two week high of $448.40.

Deere & Company (NYSE:DE – Get Rating) last announced its earnings results on Friday, February 17th. The industrial products company reported $6.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.53 by $1.02. Deere & Company had a net margin of 14.71% and a return on equity of 41.17%. The firm had revenue of $11.40 billion for the quarter, compared to analysts’ expectations of $11.14 billion. During the same period in the prior year, the company earned $2.92 EPS. The business’s revenue was up 33.7% compared to the same quarter last year. Sell-side analysts expect that Deere & Company will post 30.58 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 8th. Stockholders of record on Friday, March 31st will be issued a $1.25 dividend. This is a boost from Deere & Company’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend is Thursday, March 30th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.28%. Deere & Company’s payout ratio is 17.80%.

Deere & Company Company Profile

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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.

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

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