Neville Rodie & Shaw Inc. Grows Stock Position in Deere & Company (NYSE:DE)

Neville Rodie & Shaw Inc. lifted its stake in shares of Deere & Company (NYSE:DE) by 3.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,425 shares of the industrial products company’s stock after purchasing an additional 149 shares during the quarter. Neville Rodie & Shaw Inc.’s holdings in Deere & Company were worth $1,875,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in DE. Fairscale Capital LLC purchased a new position in shares of Deere & Company in the second quarter valued at $26,000. Livelsberger Financial Advisory purchased a new position in shares of Deere & Company in the third quarter valued at $32,000. Modus Advisors LLC purchased a new position in shares of Deere & Company in the fourth quarter valued at $32,000. Centennial Bank AR increased its position in shares of Deere & Company by 420.0% in the second 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 in the last quarter. Finally, Continuum Advisory LLC boosted its stake 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. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Up 0.4 %

Shares of Deere & Company stock traded up $1.71 on Monday, reaching $423.93. 304,665 shares of the company were exchanged, compared to its average volume of 719,163. The stock has a fifty day moving average price of $427.38 and a 200-day moving average price of $398.82. The firm has a market capitalization of $115.13 billion, a price-to-earnings ratio of 16.56, a price-to-earnings-growth ratio of 1.91 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. 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 issued its earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, beating 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 firm had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. During the same quarter in the previous year, the company posted $8.26 earnings per share. The business’s quarterly revenue was down 32.8% compared to the same quarter last year. On average, analysts expect that Deere & Company will post 19.52 EPS for the current year.

Deere & Company Increases Dividend

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

Wall Street Analyst Weigh In

A number of analysts 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 research note on Thursday, December 19th. Barclays lifted their price objective on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. UBS Group lifted their price objective on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Oppenheimer lifted their price objective on Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Finally, JPMorgan Chase & Co. lifted their price objective on Deere & Company from $420.00 to $450.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Thirteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price 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.