Selective Wealth Management Inc. Takes $201,000 Position in Deere & Company (NYSE:DE)

Selective Wealth Management Inc. purchased a new stake in Deere & Company (NYSE:DE) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 464 shares of the industrial products company’s stock, valued at approximately $201,000.

Other hedge funds have also recently bought and sold shares of the company. Fairscale Capital LLC acquired a new stake in shares of Deere & Company during the second quarter worth approximately $26,000. Livelsberger Financial Advisory acquired a new stake in Deere & Company during the 3rd quarter valued at $32,000. Modus Advisors LLC bought a new position in Deere & Company in the 4th quarter valued at $32,000. Centennial Bank AR raised its position in Deere & Company by 420.0% in the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 84 shares during the last quarter. Finally, Continuum Advisory LLC grew its holdings in shares of Deere & Company by 155.8% during the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 67 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Price Performance

DE stock opened at $456.57 on Friday. The stock has a 50-day moving average price of $430.22 and a two-hundred day moving average price of $401.33. Deere & Company has a 1 year low of $340.20 and a 1 year high of $469.39. The stock has a market cap of $124.00 billion, a PE ratio of 17.83, a price-to-earnings-growth ratio of 1.74 and a beta of 0.98. 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 released its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $9.20 billion. During the same quarter in the prior year, the firm posted $8.26 EPS. The business’s revenue was down 32.8% on a year-over-year basis. Equities analysts forecast that Deere & Company will post 19.57 EPS for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be given a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.42%. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio (DPR) is 25.31%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Jefferies Financial Group downgraded shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target on the stock. in a research report on Friday, December 6th. Barclays upped their target price on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Truist Financial raised their price target on shares of Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Oppenheimer upped their price objective on Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. lifted their target price on Deere & Company from $450.00 to $470.00 and gave the company a “neutral” rating in a research note on Wednesday. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $442.83.

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.