First County Bank CT Raises Stake in Deere & Company (NYSE:DE)

First County Bank CT increased its stake in shares of Deere & Company (NYSE:DEFree Report) by 5.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 748 shares of the industrial products company’s stock after buying an additional 40 shares during the period. First County Bank CT’s holdings in Deere & Company were worth $317,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Fairscale Capital LLC purchased a new stake in Deere & Company during the second quarter valued at about $26,000. Livelsberger Financial Advisory bought a new position in Deere & Company in the 3rd quarter worth approximately $32,000. Modus Advisors LLC bought a new stake in Deere & Company during the 4th quarter valued at $32,000. Centennial Bank AR boosted its holdings 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 worth $39,000 after acquiring an additional 84 shares during the period. Finally, Continuum Advisory LLC raised its stake in shares of Deere & Company by 155.8% during the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 67 shares during the period. Institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of Deere & Company stock opened at $413.24 on Wednesday. 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 one year low of $340.20 and a one year high of $469.39. The business’s 50 day simple moving average is $427.63 and its two-hundred day simple moving average is $399.34. The stock has a market capitalization of $112.23 billion, a P/E ratio of 16.14, a price-to-earnings-growth ratio of 1.91 and a beta of 0.98.

Deere & Company (NYSE:DEGet Free Report) last issued its earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping 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 company had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. During the same period in the previous year, the firm earned $8.26 earnings per share. The firm’s revenue for the quarter was down 32.8% on a year-over-year basis. Analysts forecast that Deere & Company will post 19.52 EPS for the current year.

Deere & Company Increases Dividend

The company also recently disclosed 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 1.57%. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend is Tuesday, December 31st. Deere & Company’s dividend payout ratio is 25.31%.

Wall Street Analysts Forecast Growth

DE has been the topic of several analyst reports. JPMorgan Chase & Co. upped their price target on Deere & Company from $420.00 to $450.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Morgan Stanley boosted their price target on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Citigroup lifted their price objective on Deere & Company from $460.00 to $470.00 and gave the company a “neutral” rating in a research note on Monday, December 9th. Truist Financial upped their target price on Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, Barclays lifted their price target on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Thirteen research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $443.94.

Check Out Our Latest Analysis on Deere & Company

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.

Further Reading

Want to see what other hedge funds are holding DE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Deere & Company (NYSE:DEFree Report).

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

Receive News & Ratings for Deere & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Deere & Company and related companies with MarketBeat.com's FREE daily email newsletter.