Foster & Motley Inc. Acquires 365 Shares of Deere & Company (NYSE:DE)

Foster & Motley Inc. increased its stake in shares of Deere & Company (NYSE:DE) by 13.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,151 shares of the industrial products company’s stock after buying an additional 365 shares during the period. Foster & Motley Inc.’s holdings in Deere & Company were worth $1,260,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Briaud Financial Planning Inc bought a new stake in shares of Deere & Company during the third quarter valued at approximately $25,000. ZRC Wealth Management LLC bought a new position in Deere & Company in the 4th quarter valued at $28,000. Rakuten Securities Inc. acquired a new stake in shares of Deere & Company in the 4th quarter valued at $28,000. Naples Money Management LLC bought a new stake in shares of Deere & Company during the fourth quarter worth $29,000. Finally, Milestone Investment Advisors LLC acquired a new position in shares of Deere & Company during the third quarter valued at $37,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

DE opened at $397.29 on Wednesday. The company has a market capitalization of $110.59 billion, a price-to-earnings ratio of 11.57, a P/E/G ratio of 1.50 and a beta of 1.04. The business’s 50-day moving average price is $386.42 and its two-hundred day moving average price is $383.39. Deere & Company has a 1 year low of $345.55 and a 1 year high of $450.00. 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 released its earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, beating analysts’ consensus estimates of $5.19 by $1.04. The business had revenue of $10.49 billion during the quarter, compared to the consensus estimate of $10.30 billion. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter last year, the firm earned $6.55 earnings per share. Equities analysts expect 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. Investors of record on Friday, March 29th will be paid a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend is Wednesday, March 27th. Deere & Company’s payout ratio is 17.12%.

Analyst Ratings Changes

A number of analysts recently commented on the company. Morgan Stanley initiated coverage on Deere & Company in a research report on Monday, January 8th. They issued an “overweight” rating and a $430.00 price objective for the company. Wells Fargo & Company dropped their price target on shares of Deere & Company from $445.00 to $425.00 and set an “overweight” rating for the company in a research note on Friday, February 16th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Deere & Company from $425.00 to $401.00 and set a “hold” rating on the stock in a research note on Friday, February 16th. Truist Financial assumed coverage on shares of Deere & Company in a research report on Thursday, March 14th. They set a “buy” rating and a $494.00 target price for the company. Finally, Stifel Nicolaus reduced their price target on Deere & Company from $435.00 to $425.00 and set a “buy” rating on the stock in a research report on Friday, February 16th. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Deere & Company presently has an average rating of “Hold” and an average target price of $433.28.

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.