Range Financial Group LLC Takes $300,000 Position in Deere & Company (NYSE:DE)

Range Financial Group LLC purchased a new position in Deere & Company (NYSE:DE) during the 4th quarter, Holdings Channel reports. The fund purchased 709 shares of the industrial products company’s stock, valued at approximately $300,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fairscale Capital LLC bought a new position in shares of Deere & Company during the second quarter valued at approximately $26,000. Livelsberger Financial Advisory purchased a new stake in Deere & Company during the third quarter valued at approximately $32,000. Modus Advisors LLC acquired a new stake in Deere & Company in the fourth quarter valued at approximately $32,000. Centennial Bank AR grew its holdings in 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 purchasing an additional 84 shares during the last quarter. Finally, Continuum Advisory LLC increased 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 purchasing an additional 67 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Morgan Stanley boosted their target price on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. UBS Group lifted their target price on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Citigroup upped their price target on shares of 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 raised their price target on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, Barclays boosted their price objective on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Thirteen equities research 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 has a consensus rating of “Hold” and an average target price of $443.94.

Deere & Company Stock Performance

DE opened at $413.24 on Wednesday. The firm has a fifty day moving average price of $427.63 and a 200 day moving average price of $399.34. Deere & Company has a 1 year low of $340.20 and a 1 year high of $469.39. The stock has a market cap of $112.23 billion, a P/E ratio of 16.14, a P/E/G ratio of 1.91 and a beta of 0.98. 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 (NYSE:DE) last posted its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (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 business had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. During the same period in the prior year, the company posted $8.26 EPS. The company’s revenue for the quarter was down 32.8% on a year-over-year basis. Equities research analysts anticipate that Deere & Company will post 19.52 earnings per share for the current year.

Deere & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be given a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.57%. Deere & Company’s payout ratio is 25.31%.

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.