SlateStone Wealth LLC Acquires 288 Shares of Deere & Company (NYSE:DE)

SlateStone Wealth LLC raised its holdings in Deere & Company (NYSE:DE) by 19.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,750 shares of the industrial products company’s stock after purchasing an additional 288 shares during the quarter. SlateStone Wealth LLC’s holdings in Deere & Company were worth $700,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Briaud Financial Planning Inc acquired a new position in shares of Deere & Company in the third quarter valued at approximately $25,000. Rakuten Securities Inc. acquired a new position in shares of Deere & Company in the fourth quarter valued at approximately $28,000. Naples Money Management LLC acquired a new position in shares of Deere & Company in the fourth quarter valued at approximately $29,000. ZRC Wealth Management LLC acquired a new position in shares of Deere & Company in the fourth quarter valued at approximately $28,000. Finally, Milestone Investment Advisors LLC acquired a new position in shares of Deere & Company in the third quarter valued at approximately $37,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Morgan Stanley assumed coverage on Deere & Company in a research report on Monday, January 8th. They issued an “overweight” rating and a $430.00 target price on the stock. Wells Fargo & Company reduced their price target on Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a research report on Friday, February 16th. Truist Financial assumed coverage on Deere & Company in a research report on Thursday, March 14th. They set a “buy” rating and a $494.00 price target on the stock. JPMorgan Chase & Co. increased their price target on Deere & Company from $415.00 to $425.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Finally, Melius Research reissued a “hold” rating on shares of Deere & Company in a research report on Monday, January 8th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Deere & Company has a consensus rating of “Hold” and an average price target of $433.28.

Deere & Company Price Performance

Shares of DE traded down $0.81 during trading hours on Tuesday, reaching $398.80. The stock had a trading volume of 628,407 shares, compared to its average volume of 1,478,528. Deere & Company has a 12 month low of $345.55 and a 12 month high of $450.00. The stock has a market capitalization of $111.01 billion, a PE ratio of 11.75, a PEG ratio of 1.50 and a beta of 1.04. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.81 and a current ratio of 2.05. The company’s 50-day moving average is $386.06 and its two-hundred day moving average is $383.26.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.19 by $1.04. The business had revenue of $10.49 billion during the quarter, compared to analyst estimates of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. Deere & Company’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same period last year, the company earned $6.55 EPS. Research analysts expect that Deere & Company will post 27.4 EPS for the current year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend is Wednesday, March 27th. Deere & Company’s dividend payout ratio is currently 17.12%.

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.