Cornerstone Wealth Management LLC Buys 112 Shares of Deere & Company (NYSE:DE)

Cornerstone Wealth Management LLC increased its holdings in shares of Deere & Company (NYSE:DE) by 3.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 3,210 shares of the industrial products company’s stock after purchasing an additional 112 shares during the period. Cornerstone Wealth Management LLC’s holdings in Deere & Company were worth $1,360,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Brighton Jones LLC grew its holdings in Deere & Company by 39.1% during the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock worth $1,927,000 after purchasing an additional 1,278 shares during the period. Montecito Bank & Trust grew its holdings in Deere & Company by 16.4% during the fourth quarter. Montecito Bank & Trust now owns 2,925 shares of the industrial products company’s stock worth $1,239,000 after purchasing an additional 412 shares during the period. Secure Asset Management LLC bought a new position in Deere & Company during the fourth quarter worth about $358,000. Avior Wealth Management LLC grew its holdings in Deere & Company by 2.0% during the fourth quarter. Avior Wealth Management LLC now owns 4,770 shares of the industrial products company’s stock worth $2,021,000 after purchasing an additional 93 shares during the period. Finally, Raleigh Capital Management Inc. grew its holdings in Deere & Company by 182.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 209 shares of the industrial products company’s stock worth $89,000 after purchasing an additional 135 shares during the period. Institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

DE has been the subject of a number of research analyst reports. Morgan Stanley lifted their price target on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Barclays raised their price objective on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Oppenheimer raised their price objective on shares of Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. raised their price objective on shares of Deere & Company from $450.00 to $470.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 15th. Finally, Truist Financial raised their price objective on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $442.83.

Deere & Company Stock Up 0.9 %

NYSE DE opened at $478.90 on Friday. Deere & Company has a 1-year low of $340.20 and a 1-year high of $479.48. The company has a market cap of $130.43 billion, a price-to-earnings ratio of 18.71, a PEG ratio of 2.84 and a beta of 0.98. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89. The company has a 50 day moving average of $436.95 and a 200-day moving average of $404.80.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, beating the consensus estimate of $3.89 by $0.66. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The business had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. During the same period in the previous year, the business earned $8.26 earnings per share. The company’s revenue was down 32.8% on a year-over-year basis. On average, equities research analysts expect that Deere & Company will post 19.34 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be given a dividend of $1.62 per share. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a yield of 1.35%. The ex-dividend date is Tuesday, December 31st. Deere & Company’s payout ratio is currently 25.31%.

Deere & Company Company Profile

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.