Wilbanks Smith & Thomas Asset Management LLC Buys 176 Shares of Deere & Company (NYSE:DE)

Wilbanks Smith & Thomas Asset Management LLC grew its stake in shares of Deere & Company (NYSE:DE) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,679 shares of the industrial products company’s stock after buying an additional 176 shares during the period. Wilbanks Smith & Thomas Asset Management LLC’s holdings in Deere & Company were worth $2,671,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in DE. Rogco LP grew its position in shares of Deere & Company by 250.2% in the 4th quarter. Rogco LP now owns 802 shares of the industrial products company’s stock valued at $321,000 after purchasing an additional 573 shares during the period. Tower View Wealth Management LLC lifted its stake in Deere & Company by 1.6% in the fourth quarter. Tower View Wealth Management LLC now owns 12,051 shares of the industrial products company’s stock valued at $4,819,000 after buying an additional 185 shares in the last quarter. First Trust Direct Indexing L.P. boosted its holdings in shares of Deere & Company by 7.0% in the fourth quarter. First Trust Direct Indexing L.P. now owns 5,476 shares of the industrial products company’s stock valued at $2,190,000 after buying an additional 357 shares during the period. Summit Financial LLC increased its position in shares of Deere & Company by 4.9% during the fourth quarter. Summit Financial LLC now owns 3,524 shares of the industrial products company’s stock worth $1,414,000 after acquiring an additional 166 shares in the last quarter. Finally, RB Capital Management LLC raised its holdings in shares of Deere & Company by 3.1% during the fourth quarter. RB Capital Management LLC now owns 1,965 shares of the industrial products company’s stock worth $786,000 after acquiring an additional 60 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

DE has been the topic of a number of recent research reports. Citigroup dropped their target price on Deere & Company from $450.00 to $435.00 and set a “buy” rating on the stock in a research report on Friday, February 16th. Melius cut shares of Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Truist Financial initiated coverage on shares of Deere & Company in a research note on Thursday, March 14th. They issued a “buy” rating and a $494.00 price target on the stock. Stifel Nicolaus cut their price target on shares of Deere & Company from $435.00 to $425.00 and set a “buy” rating on the stock in a research report on Friday, February 16th. Finally, Melius Research reissued a “hold” rating on shares of Deere & Company in a research note on Monday, January 8th. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $433.28.

Deere & Company Stock Up 1.0 %

Shares of DE traded up $3.87 during trading hours on Thursday, hitting $391.37. The stock had a trading volume of 398,189 shares, compared to its average volume of 1,453,001. Deere & Company has a 1-year low of $345.55 and a 1-year high of $450.00. The firm has a market capitalization of $108.94 billion, a P/E ratio of 11.28, a price-to-earnings-growth ratio of 1.47 and a beta of 1.04. The firm has a 50 day simple moving average of $389.94 and a 200-day simple moving average of $383.76. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.05 and a quick ratio of 1.81.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, beating analysts’ consensus estimates of $5.19 by $1.04. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The business had revenue of $10.49 billion during the quarter, compared to analyst estimates of $10.30 billion. During the same quarter in the previous year, the business posted $6.55 EPS. Deere & Company’s quarterly revenue was down 8.0% on a year-over-year basis. Sell-side analysts predict that Deere & Company will post 27.37 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th will be issued a $1.47 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $5.88 annualized dividend and a dividend yield of 1.50%. Deere & Company’s dividend payout ratio is currently 17.12%.

Deere & Company Profile

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.