Deere & Company (NYSE:DE) Shares Purchased by Montecito Bank & Trust

Montecito Bank & Trust raised its position in Deere & Company (NYSE:DE) by 16.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,925 shares of the industrial products company’s stock after acquiring an additional 412 shares during the quarter. Montecito Bank & Trust’s holdings in Deere & Company were worth $1,239,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Livelsberger Financial Advisory bought a new stake in Deere & Company in the third quarter valued at about $32,000. Modus Advisors LLC acquired a new position in shares of Deere & Company in the 4th quarter worth approximately $32,000. Centennial Bank AR increased its holdings in shares of Deere & Company by 420.0% in the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 84 shares during the last quarter. Continuum Advisory LLC raised its position in shares of Deere & Company by 155.8% during the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 67 shares in the last quarter. Finally, Darwin Wealth Management LLC bought a new position in Deere & Company during the third quarter worth $47,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of NYSE:DE opened at $475.22 on Friday. The company’s fifty day moving average is $435.34 and its two-hundred day moving average is $404.30. The company has a market cap of $129.43 billion, a P/E ratio of 18.56, a price-to-earnings-growth ratio of 2.86 and a beta of 0.98. Deere & Company has a 12-month low of $340.20 and a 12-month high of $475.92. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89.

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

Deere & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be given a dividend of $1.62 per share. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date is Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.36%. Deere & Company’s dividend payout ratio (DPR) is presently 25.31%.

Analysts Set New Price Targets

DE has been the topic of a number of research reports. Citigroup dropped their price target on Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Jefferies Financial Group lowered shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price for the company. in a research note on Friday, December 6th. JPMorgan Chase & Co. raised their price target on shares of Deere & Company from $450.00 to $470.00 and gave the company a “neutral” rating in a research note on Wednesday, January 15th. UBS Group boosted their price objective on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Finally, Truist Financial raised their target price on Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Eleven analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $442.83.

About Deere & Company

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.