Deere & Company (NYSE:DE) Shares Bought by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. grew its stake in Deere & Company (NYSE:DEFree Report) by 21.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,355 shares of the industrial products company’s stock after purchasing an additional 939 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Deere & Company were worth $2,141,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Briaud Financial Planning Inc acquired a new stake in shares of Deere & Company in the third quarter valued at about $25,000. Retirement Group LLC grew its position in shares of Deere & Company by 264.7% in the second quarter. Retirement Group LLC now owns 62 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 45 shares during the period. ZRC Wealth Management LLC acquired a new stake in shares of Deere & Company in the fourth quarter valued at about $28,000. Worth Asset Management LLC acquired a new stake in shares of Deere & Company in the first quarter valued at about $28,000. Finally, Milestone Investment Advisors LLC acquired a new stake in shares of Deere & Company in the third quarter valued at about $37,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Morgan Stanley initiated coverage on shares of Deere & Company in a research report on Monday, January 8th. They issued an “overweight” rating and a $430.00 target price on the stock. Wells Fargo & Company decreased their price target on shares of Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a research note on Friday, February 16th. Truist Financial initiated coverage on shares of Deere & Company in a research note on Thursday, March 14th. They issued a “buy” rating and a $494.00 price target on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Deere & Company from $425.00 to $401.00 and set a “hold” rating on the stock in a research note on Friday, February 16th. Finally, JPMorgan Chase & Co. raised their price target on shares of Deere & Company from $380.00 to $385.00 and gave the stock a “neutral” rating in a research note on Monday, December 4th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $431.28.

View Our Latest Report on DE

Deere & Company Price Performance

Deere & Company stock opened at $404.14 on Tuesday. The company’s 50 day simple moving average is $381.59 and its 200-day simple moving average is $381.51. The company has a market capitalization of $112.50 billion, a price-to-earnings ratio of 11.77, a price-to-earnings-growth ratio of 1.54 and a beta of 1.04. Deere & Company has a 1 year low of $345.55 and a 1 year high of $450.00. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.81 and a current ratio of 2.05.

Deere & Company (NYSE:DEGet Free Report) last released its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.19 by $1.04. The business had revenue of $10.49 billion for the quarter, compared to the consensus estimate of $10.30 billion. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The business’s revenue was down 8.0% on a year-over-year basis. During the same period in the previous year, the firm earned $6.55 EPS. As a group, equities research analysts expect that Deere & Company will post 27.41 earnings per share for the current year.

Deere & Company Dividend Announcement

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

Deere & Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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