CIBC Private Wealth Group LLC grew its position in shares of Deere & Company (NYSE:DE – Get Rating) by 13.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 55,322 shares of the industrial products company’s stock after buying an additional 6,347 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Deere & Company were worth $18,969,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently bought and sold shares of the company. PSI Advisors LLC bought a new stake in shares of Deere & Company in the 3rd quarter worth approximately $30,000. First National Bank of South Miami bought a new stake in shares of Deere & Company in the 4th quarter worth approximately $34,000. Amplius Wealth Advisors LLC bought a new stake in shares of Deere & Company in the 4th quarter worth approximately $34,000. AHL Investment Management Inc. bought a new stake in shares of Deere & Company in the 4th quarter worth approximately $48,000. Finally, HBC Financial Services PLLC bought a new stake in shares of Deere & Company in the 4th quarter worth approximately $50,000. 65.28% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have issued reports on DE shares. Bank of America cut shares of Deere & Company from a “buy” rating to a “neutral” rating and lowered their target price for the company from $475.00 to $450.00 in a report on Monday, April 25th. DA Davidson boosted their target price on shares of Deere & Company from $455.00 to $480.00 in a report on Friday, April 1st. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Deere & Company from $400.00 to $417.00 and gave the company a “hold” rating in a report on Tuesday, February 22nd. Robert W. Baird boosted their target price on shares of Deere & Company from $425.00 to $475.00 in a report on Friday, January 7th. Finally, Oppenheimer boosted their target price on shares of Deere & Company from $425.00 to $432.00 and gave the company an “outperform” rating in a report on Tuesday, February 22nd. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Deere & Company has an average rating of “Buy” and a consensus target price of $440.53.
Shares of DE stock opened at $377.55 on Friday. The stock has a market cap of $115.82 billion, a P/E ratio of 20.93, a PEG ratio of 1.26 and a beta of 1.00. Deere & Company has a 52 week low of $320.50 and a 52 week high of $446.76. The company has a quick ratio of 1.94, a current ratio of 2.25 and a debt-to-equity ratio of 1.84. The company’s fifty day simple moving average is $400.61 and its two-hundred day simple moving average is $374.15.
Deere & Company (NYSE:DE – Get Rating) last announced its quarterly earnings results on Friday, February 18th. The industrial products company reported $2.92 EPS for the quarter, topping the consensus estimate of $2.28 by $0.64. The business had revenue of $8.53 billion for the quarter, compared to analysts’ expectations of $8.28 billion. Deere & Company had a net margin of 12.69% and a return on equity of 33.65%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.87 EPS. On average, analysts anticipate that Deere & Company will post 22.69 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, May 9th. Stockholders of record on Thursday, March 31st will be issued a $1.05 dividend. The ex-dividend date of this dividend is Wednesday, March 30th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 1.11%. Deere & Company’s dividend payout ratio (DPR) is presently 23.28%.
Deere & Company Company Profile (Get Rating)
Deere & Company manufactures and distributes various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides mid-size tractors, combines, cotton pickers and strippers, sugarcane harvesters, harvesting front-end equipment, sugarcane loaders, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.
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