Charles Schwab Investment Management Inc. Grows Position in Deere & Company (NYSE:DE)

Charles Schwab Investment Management Inc. raised its position in Deere & Company (NYSE:DE) by 2.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,570,773 shares of the industrial products company’s stock after purchasing an additional 31,074 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.56% of Deere & Company worth $628,105,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Briaud Financial Planning Inc purchased a new stake in Deere & Company in the 3rd quarter valued at about $25,000. ZRC Wealth Management LLC bought a new position in Deere & Company in the fourth quarter worth approximately $28,000. Rakuten Securities Inc. purchased a new position in Deere & Company during the 4th quarter worth $28,000. Naples Money Management LLC bought a new stake in Deere & Company during the 4th quarter valued at $29,000. Finally, Bfsg LLC purchased a new stake in shares of Deere & Company in the 4th quarter worth $30,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

DE has been the topic of several research reports. Citigroup cut their price target on Deere & Company from $450.00 to $435.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. Wells Fargo & Company lowered their target price on Deere & Company from $445.00 to $425.00 and set an “overweight” rating for the company in a report on Friday, February 16th. Morgan Stanley began coverage on Deere & Company in a report on Monday, January 8th. They issued an “overweight” rating and a $430.00 price target on the stock. JPMorgan Chase & Co. raised their price objective on Deere & Company from $415.00 to $425.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Finally, Truist Financial started coverage on shares of Deere & Company in a report on Thursday, March 14th. They issued a “buy” rating and a $494.00 target price for the company. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Deere & Company presently has an average rating of “Hold” and a consensus price target of $433.28.

Deere & Company Stock Performance

DE traded up $3.73 during trading on Tuesday, reaching $405.57. 930,852 shares of the company’s stock were exchanged, compared to its average volume of 1,461,198. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.05 and a quick ratio of 1.81. Deere & Company has a 1 year low of $345.55 and a 1 year high of $450.00. The company’s fifty day simple moving average is $393.13 and its 200-day simple moving average is $384.23. The stock has a market capitalization of $112.89 billion, a P/E ratio of 11.81, a price-to-earnings-growth ratio of 1.51 and a beta of 1.04.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.19 by $1.04. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The firm had revenue of $10.49 billion during the quarter, compared to analysts’ expectations of $10.30 billion. During the same quarter last year, the company posted $6.55 earnings per share. The firm’s revenue was down 8.0% compared to the same quarter last year. As a group, research analysts predict that Deere & Company will post 27.37 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Wednesday, March 27th. Deere & Company’s dividend payout ratio (DPR) is presently 17.12%.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of 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 large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, 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.