Tealwood Asset Management Inc. Invests $202,000 in Deere & Company (NYSE:DE)

Tealwood Asset Management Inc. bought a new stake in shares of Deere & Company (NYSE:DE) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 476 shares of the industrial products company’s stock, valued at approximately $202,000.

Other hedge funds have also recently bought and sold shares of the company. Dale Q Rice Investment Management Ltd acquired a new stake in shares of Deere & Company during the 4th quarter worth approximately $791,000. FNY Investment Advisers LLC lifted its position in Deere & Company by 657.1% in the fourth quarter. FNY Investment Advisers LLC now owns 5,300 shares of the industrial products company’s stock worth $2,245,000 after purchasing an additional 4,600 shares during the period. BCS Wealth Management acquired a new stake in Deere & Company during the fourth quarter worth $287,000. Marion Wealth Management increased its holdings in Deere & Company by 7.0% in the 4th quarter. Marion Wealth Management now owns 3,864 shares of the industrial products company’s stock valued at $1,637,000 after buying an additional 253 shares during the period. Finally, Miracle Mile Advisors LLC increased its holdings in Deere & Company by 252.7% in the 4th quarter. Miracle Mile Advisors LLC now owns 14,503 shares of the industrial products company’s stock valued at $6,145,000 after buying an additional 10,391 shares during the period. 68.58% of the stock is owned by institutional investors.

Deere & Company Price Performance

Shares of DE stock opened at $430.17 on Tuesday. The firm has a market capitalization of $117.69 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 1.88 and a beta of 0.96. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89. The firm’s 50 day moving average is $428.56 and its 200-day moving average is $400.45. Deere & Company has a 1 year low of $340.20 and a 1 year high of $469.39.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.89 by $0.66. The business had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The firm’s revenue for the quarter was down 32.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $8.26 earnings per share. Sell-side analysts forecast that Deere & Company will post 19.41 EPS for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be given a dividend of $1.62 per share. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date is Tuesday, December 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.51%. Deere & Company’s payout ratio is currently 22.97%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Jefferies Financial Group lowered shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a research report on Friday, December 6th. Barclays lifted their price objective on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Citigroup increased their target price on Deere & Company from $460.00 to $470.00 and gave the stock a “neutral” rating in a report on Monday, December 9th. Morgan Stanley boosted their price target on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Finally, UBS Group increased their price objective on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $443.94.

Deere & Company 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.