GUNN & Co INVESTMENT MANAGEMENT INC. Acquires 95 Shares of Deere & Company (NYSE:DE)

GUNN & Co INVESTMENT MANAGEMENT INC. increased its holdings in Deere & Company (NYSE:DE) by 9.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,050 shares of the industrial products company’s stock after acquiring an additional 95 shares during the quarter. GUNN & Co INVESTMENT MANAGEMENT INC.’s holdings in Deere & Company were worth $420,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Briaud Financial Planning Inc bought a new stake in shares of Deere & Company in the 3rd quarter valued at about $25,000. ZRC Wealth Management LLC purchased a new stake in shares of Deere & Company during the fourth quarter valued at approximately $28,000. Rakuten Securities Inc. bought a new position in shares of Deere & Company in the fourth quarter worth approximately $28,000. Naples Money Management LLC bought a new stake in Deere & Company during the 4th quarter valued at $29,000. Finally, Bfsg LLC purchased a new stake in Deere & Company during the 4th quarter valued at $30,000. 68.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on DE shares. Stifel Nicolaus lowered their price objective on Deere & Company from $435.00 to $425.00 and set a “buy” rating for the company in a research report on Friday, February 16th. Truist Financial initiated coverage on shares of Deere & Company in a research note on Thursday, March 14th. They set a “buy” rating and a $494.00 target price for the company. Deutsche Bank Aktiengesellschaft cut their price target on Deere & Company from $425.00 to $401.00 and set a “hold” rating on the stock in a research note on Friday, February 16th. Evercore ISI lifted their price target on Deere & Company from $381.00 to $387.00 and gave the stock an “in-line” rating in a research report on Tuesday, February 20th. Finally, Citigroup reduced their price objective on shares of Deere & Company from $450.00 to $435.00 and set a “buy” rating for the company in a research note 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’s stock. According to data from MarketBeat, Deere & Company has a consensus rating of “Hold” and an average target price of $433.28.

Deere & Company Price Performance

NYSE DE traded up $4.16 on Tuesday, reaching $406.00. The company had a trading volume of 97,941 shares, compared to its average volume of 1,451,408. The stock has a market capitalization of $113.01 billion, a PE ratio of 11.71, a price-to-earnings-growth ratio of 1.51 and a beta of 1.04. The firm’s 50 day moving average price is $392.23 and its 200 day moving average price is $384.02. The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 1.81. Deere & Company has a 12 month low of $345.55 and a 12 month high of $450.00.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, beating the consensus estimate of $5.19 by $1.04. The business had revenue of $10.49 billion during the quarter, compared to analyst estimates of $10.30 billion. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. Deere & Company’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter last year, the business earned $6.55 earnings per share. As a group, equities analysts predict that Deere & Company will post 27.37 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Wednesday, March 27th. Deere & Company’s dividend payout ratio (DPR) is presently 17.12%.

Deere & Company 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.