Hoese & Co LLP Makes New $70,000 Investment in Deere & Company (NYSE:DE)

Hoese & Co LLP bought a new stake in shares of Deere & Company (NYSE:DE) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 165 shares of the industrial products company’s stock, valued at approximately $70,000.

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

Deere & Company Stock Performance

DE opened at $456.57 on Tuesday. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. The firm has a market cap of $124.00 billion, a PE ratio of 17.83, a P/E/G ratio of 1.74 and a beta of 0.98. The business has a fifty day simple moving average of $431.48 and a 200-day simple moving average of $402.53. 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 released its quarterly earnings results 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. The business had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. Deere & Company’s revenue for the quarter was down 32.8% on a year-over-year basis. During the same quarter last year, the company posted $8.26 EPS. As a group, equities analysts predict that Deere & Company will post 19.57 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. Stockholders of record on Tuesday, December 31st will be issued a dividend of $1.62 per share. The ex-dividend date is Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.42%. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s payout ratio is currently 25.31%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Jefferies Financial Group downgraded shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective on the stock. in a research report on Friday, December 6th. Morgan Stanley lifted their price target on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Barclays increased their price objective on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. lifted their target price on Deere & Company from $450.00 to $470.00 and gave the company a “neutral” rating in a research note on Wednesday, January 15th. Finally, Truist Financial increased their price target on Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Deere & Company presently has an average rating of “Hold” and an average target price of $442.83.

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.