Cornerstone Wealth Group LLC Acquires 122 Shares of Deere & Company (NYSE:DE)

Cornerstone Wealth Group LLC boosted its stake in shares of Deere & Company (NYSE:DE) by 5.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,348 shares of the industrial products company’s stock after buying an additional 122 shares during the period. Cornerstone Wealth Group LLC’s holdings in Deere & Company were worth $995,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of DE. Union Bancaire Privee UBP SA acquired a new stake in shares of Deere & Company during the fourth quarter worth $3,771,000. Blue Trust Inc. increased its holdings in Deere & Company by 13.6% during the 4th quarter. Blue Trust Inc. now owns 5,392 shares of the industrial products company’s stock worth $2,250,000 after purchasing an additional 647 shares in the last quarter. Kingswood Wealth Advisors LLC raised its stake in shares of Deere & Company by 23.7% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 3,684 shares of the industrial products company’s stock valued at $1,561,000 after purchasing an additional 707 shares during the period. Strategic Investment Advisors MI lifted its holdings in shares of Deere & Company by 16.1% in the fourth quarter. Strategic Investment Advisors MI now owns 1,348 shares of the industrial products company’s stock valued at $571,000 after purchasing an additional 187 shares in the last quarter. Finally, Legacy Financial Group LLC acquired a new position in shares of Deere & Company during the fourth quarter worth about $1,645,000. Institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Barclays lifted their target price on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Morgan Stanley lifted their price objective on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Truist Financial increased their target price 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. Oppenheimer raised their target price on shares of Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Finally, JPMorgan Chase & Co. boosted their price target on shares of Deere & Company from $450.00 to $470.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 15th. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $442.83.

Deere & Company Stock Up 0.9 %

DE opened at $478.90 on Monday. The stock’s fifty day simple moving average is $438.55 and its 200 day simple moving average is $406.05. Deere & Company has a 1-year low of $340.20 and a 1-year high of $479.48. The stock has a market cap of $130.43 billion, a PE ratio of 18.71, a price-to-earnings-growth ratio of 2.84 and a beta of 0.98. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating the consensus estimate of $3.89 by $0.66. The company had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The company’s revenue was down 32.8% on a year-over-year basis. During the same period in the prior year, the firm earned $8.26 earnings per share. As a group, research analysts expect that Deere & Company will post 19.34 earnings per share for the current year.

Deere & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be given a dividend of $1.62 per share. The ex-dividend date is Tuesday, December 31st. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a yield of 1.35%. Deere & Company’s dividend payout ratio (DPR) is 25.31%.

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.