Bank of Jackson Hole Trust Acquires New Position in Deere & Company (NYSE:DE)

Bank of Jackson Hole Trust acquired a new stake in shares of Deere & Company (NYSE:DE) during the fourth quarter, Holdings Channel.com reports. The fund acquired 1,298 shares of the industrial products company’s stock, valued at approximately $550,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Robertson Stephens Wealth Management LLC grew its position in Deere & Company by 2.2% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company’s stock valued at $426,000 after purchasing an additional 22 shares in the last quarter. DLK Investment Management LLC grew its position in Deere & Company by 0.3% during the fourth quarter. DLK Investment Management LLC now owns 8,212 shares of the industrial products company’s stock valued at $3,479,000 after purchasing an additional 24 shares in the last quarter. Quent Capital LLC grew its position in Deere & Company by 2.8% during the fourth quarter. Quent Capital LLC now owns 889 shares of the industrial products company’s stock valued at $377,000 after purchasing an additional 24 shares in the last quarter. Valeo Financial Advisors LLC grew its position in Deere & Company by 0.3% during the fourth quarter. Valeo Financial Advisors LLC now owns 8,019 shares of the industrial products company’s stock valued at $3,398,000 after purchasing an additional 24 shares in the last quarter. Finally, Mattern Wealth Management LLC grew its position in Deere & Company by 1.3% in the third quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock worth $786,000 after acquiring an additional 25 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Up 4.4 %

Shares of NYSE:DE opened at $501.40 on Wednesday. Deere & Company has a 12 month low of $340.20 and a 12 month high of $502.10. The company’s 50-day moving average price is $448.71 and its two-hundred day moving average price is $418.73. 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 market cap of $136.56 billion, a P/E ratio of 19.59, a P/E/G ratio of 2.87 and a beta of 0.98.

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

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 dividend on an annualized basis and a yield of 1.29%. Deere & Company’s dividend payout ratio is presently 28.72%.

Analysts Set New Price Targets

Several research firms have commented on DE. Oppenheimer boosted their target price on shares of Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Truist Financial restated a “buy” rating and issued a $546.00 price objective (down from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. Morgan Stanley boosted their price objective on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Jefferies Financial Group cut 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. Finally, UBS Group upped their target price on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Eleven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price 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.