Fulton Breakefield Broenniman LLC Acquires 343 Shares of Deere & Company (NYSE:DE)

Fulton Breakefield Broenniman LLC boosted its holdings in shares of Deere & Company (NYSE:DE) by 38.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,237 shares of the industrial products company’s stock after purchasing an additional 343 shares during the period. Fulton Breakefield Broenniman LLC’s holdings in Deere & Company were worth $524,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DE. Wellington Management Group LLP increased its holdings in shares of Deere & Company by 32.0% in the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock valued at $3,068,404,000 after purchasing an additional 1,782,984 shares in the last quarter. FMR LLC increased its holdings in shares of Deere & Company by 27.8% in the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock valued at $1,895,518,000 after purchasing an additional 988,380 shares in the last quarter. Pathway Financial Advisers LLC grew its holdings in Deere & Company by 53,338.6% during the 3rd quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock worth $356,602,000 after acquiring an additional 852,885 shares during the period. International Assets Investment Management LLC grew its holdings in Deere & Company by 46,892.9% during the 3rd quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company’s stock worth $322,218,000 after acquiring an additional 770,451 shares during the period. Finally, Stockbridge Partners LLC grew its holdings in Deere & Company by 157.5% during the 3rd quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock worth $369,019,000 after acquiring an additional 540,874 shares during the period. Institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Down 0.7 %

NYSE:DE opened at $480.59 on Wednesday. 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 stock has a market capitalization of $130.89 billion, a price-to-earnings ratio of 18.77, a PEG ratio of 2.84 and a beta of 0.98. The firm has a fifty day simple moving average of $440.14 and a two-hundred day simple moving average of $407.30. Deere & Company has a 12 month low of $340.20 and a 12 month high of $485.84.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating analysts’ consensus estimates of $3.89 by $0.66. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The firm had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. During the same period last year, the firm earned $8.26 earnings per share. The business’s quarterly revenue was down 32.8% compared to the same quarter last year. Analysts expect that Deere & Company will post 19.34 EPS for the current fiscal year.

Deere & Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be given a dividend of $1.62 per share. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend is Tuesday, December 31st. Deere & Company’s dividend payout ratio (DPR) is presently 25.31%.

Analyst Upgrades and Downgrades

A number of research firms have commented on DE. UBS Group lifted their target price on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Morgan Stanley lifted their price target on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Jefferies Financial Group cut 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 boosted their price objective on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Finally, Truist Financial boosted their price objective on shares of Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Eleven 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 an average rating of “Hold” and an average price target of $444.50.

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.