CWA Asset Management Group LLC Raises Stock Position in Deere & Company (NYSE:DE)

CWA Asset Management Group LLC lifted its holdings in Deere & Company (NYSE:DE) by 1.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,579 shares of the industrial products company’s stock after acquiring an additional 396 shares during the period. Deere & Company accounts for about 0.9% of CWA Asset Management Group LLC’s portfolio, making the stock its 21st biggest holding. CWA Asset Management Group LLC’s holdings in Deere & Company were worth $17,617,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DE. Fairscale Capital LLC purchased a new stake in shares of Deere & Company during the 2nd quarter worth $26,000. Livelsberger Financial Advisory acquired a new stake in shares of Deere & Company in the third quarter worth approximately $32,000. Modus Advisors LLC purchased a new position in Deere & Company in the 4th quarter worth approximately $32,000. Centennial Bank AR raised its position in shares of Deere & Company by 420.0% during the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after buying an additional 84 shares during the period. Finally, Continuum Advisory LLC increased its position 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 valued at $43,000 after acquiring an additional 67 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Up 0.5 %

NYSE:DE traded up $1.96 during mid-day trading on Monday, reaching $424.18. The stock had a trading volume of 195,689 shares, compared to its average volume of 685,902. The stock has a market cap of $115.20 billion, a P/E ratio of 16.57, a PEG ratio of 1.91 and a beta of 0.98. The business’s 50 day moving average is $427.38 and its 200 day moving average is $398.82. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $469.39.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) 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 business had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. During the same period in the prior year, the business earned $8.26 EPS. Deere & Company’s revenue for the quarter was down 32.8% compared to the same quarter last year. As a group, sell-side analysts predict that Deere & Company will post 19.52 earnings per share for the current year.

Deere & Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date is Tuesday, December 31st. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio is currently 25.31%.

Analysts Set New Price Targets

A number of research analysts have recently commented on DE shares. Truist Financial increased their price objective on Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Oppenheimer increased their price target on shares of Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. UBS Group increased their price objective on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Barclays increased their price objective on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Finally, Citigroup increased their price objective on Deere & Company from $460.00 to $470.00 and gave the stock a “neutral” rating in a research note on Monday, December 9th. Thirteen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $443.94.

About Deere & Company

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.