Pacifica Partners Inc. Has $432,000 Position in Deere & Company (NYSE:DE)

Pacifica Partners Inc. grew its position in shares of Deere & Company (NYSE:DE) by 5.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,033 shares of the industrial products company’s stock after purchasing an additional 58 shares during the quarter. Pacifica Partners Inc.’s holdings in Deere & Company were worth $432,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mayfair Advisory Group LLC acquired a new stake in Deere & Company during the 4th quarter worth approximately $215,000. Breakwater Capital Group raised its stake in shares of Deere & Company by 2.8% during the fourth quarter. Breakwater Capital Group now owns 1,642 shares of the industrial products company’s stock valued at $696,000 after acquiring an additional 44 shares during the last quarter. Tealwood Asset Management Inc. acquired a new position in shares of Deere & Company during the fourth quarter worth $202,000. Dale Q Rice Investment Management Ltd bought a new stake in shares of Deere & Company in the fourth quarter worth $791,000. Finally, FNY Investment Advisers LLC increased its holdings 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 valued at $2,245,000 after purchasing an additional 4,600 shares during the period. 68.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Barclays upped their price target on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Citigroup decreased their target price on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a research report on Tuesday. Oppenheimer boosted their price target on shares of Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Jefferies Financial Group lowered shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective on the stock. in a research note on Friday, December 6th. Finally, Morgan Stanley lifted their target price on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Deere & Company presently has an average rating of “Hold” and a consensus target price of $441.72.

Deere & Company Trading Up 0.5 %

Shares of Deere & Company stock opened at $432.17 on Wednesday. The company has a market capitalization of $118.24 billion, a P/E ratio of 16.88, a price-to-earnings-growth ratio of 1.88 and a beta of 0.96. The stock has a fifty day simple moving average of $429.20 and a 200 day simple moving average of $400.87. Deere & Company has a 12-month low of $340.20 and a 12-month high of $469.39. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89.

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

Deere & Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be given a dividend of $1.62 per share. The ex-dividend date is Tuesday, December 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.50%. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio (DPR) is currently 22.97%.

About Deere & Company

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.