Sierra Ocean LLC Purchases Shares of 102 Deere & Company (NYSE:DE)

Sierra Ocean LLC bought a new position in Deere & Company (NYSE:DE) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 102 shares of the industrial products company’s stock, valued at approximately $44,000.

Several other institutional investors have also recently made changes to their positions in DE. Pineridge Advisors LLC increased its position in Deere & Company by 60.5% during the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after buying an additional 26 shares in the last quarter. Livelsberger Financial Advisory purchased a new stake in Deere & Company during the 3rd quarter valued at $32,000. Modus Advisors LLC purchased a new position in shares of Deere & Company in the 4th quarter worth $32,000. YANKCOM Partnership purchased a new position in shares of Deere & Company in the 4th quarter worth $34,000. Finally, Synergy Asset Management LLC purchased a new position in shares of Deere & Company in the 4th quarter worth $35,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of NYSE:DE opened at $480.17 on Tuesday. The company has a market capitalization of $130.77 billion, a price-to-earnings ratio of 18.76, a price-to-earnings-growth ratio of 2.87 and a beta of 0.98. Deere & Company has a 52 week low of $340.20 and a 52 week high of $485.84. 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 50 day moving average of $446.95 and a 200 day moving average of $416.83.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. On average, sell-side analysts predict that Deere & Company will post 19.38 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Tuesday, December 31st were given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.35%. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend was Tuesday, December 31st. Deere & Company’s dividend payout ratio is presently 25.31%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Oppenheimer lifted their target price on Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Morgan Stanley raised 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. JPMorgan Chase & Co. lifted their target price on Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Jefferies Financial Group lowered Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target for the company. in a research report on Friday, December 6th. Finally, Barclays lifted their price target on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Eleven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $450.12.

Deere & 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.