Cranbrook Wealth Management LLC Buys 1,360 Shares of Deere & Company $DE

Cranbrook Wealth Management LLC grew its stake in shares of Deere & Company (NYSE:DE) by 6,800.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 1,380 shares of the industrial products company’s stock after acquiring an additional 1,360 shares during the quarter. Cranbrook Wealth Management LLC’s holdings in Deere & Company were worth $642,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Rothschild & Co Wealth Management UK Ltd lifted its position in shares of Deere & Company by 0.6% during the 4th quarter. Rothschild & Co Wealth Management UK Ltd now owns 1,204,248 shares of the industrial products company’s stock valued at $560,662,000 after acquiring an additional 7,605 shares during the period. Tufton Capital Management lifted its position in shares of Deere & Company by 1.8% during the 4th quarter. Tufton Capital Management now owns 2,582 shares of the industrial products company’s stock valued at $1,202,000 after acquiring an additional 46 shares during the period. Harbour Trust & Investment Management Co lifted its position in shares of Deere & Company by 1.0% during the 4th quarter. Harbour Trust & Investment Management Co now owns 30,012 shares of the industrial products company’s stock valued at $13,973,000 after acquiring an additional 307 shares during the period. Marietta Wealth Management LLC raised its holdings in shares of Deere & Company by 0.8% during the 4th quarter. Marietta Wealth Management LLC now owns 14,044 shares of the industrial products company’s stock worth $6,538,000 after buying an additional 110 shares in the last quarter. Finally, Confluence Wealth Services Inc. raised its holdings in shares of Deere & Company by 0.9% during the 4th quarter. Confluence Wealth Services Inc. now owns 6,805 shares of the industrial products company’s stock worth $3,168,000 after buying an additional 62 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

DE has been the subject of a number of research analyst reports. Oppenheimer reissued an “outperform” rating and set a $715.00 price target on shares of Deere & Company in a report on Friday, February 20th. Barclays boosted their price target on Deere & Company from $530.00 to $640.00 and gave the stock an “overweight” rating in a report on Tuesday, March 31st. Wells Fargo & Company boosted their price target on Deere & Company from $543.00 to $750.00 and gave the stock an “overweight” rating in a report on Friday, February 20th. Royal Bank Of Canada boosted their price target on Deere & Company from $541.00 to $736.00 and gave the stock an “outperform” rating in a report on Friday, February 20th. Finally, Jefferies Financial Group raised Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 price target for the company in a report on Wednesday, April 8th. Sixteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $655.45.

Deere & Company Trading Down 1.2%

NYSE DE opened at $580.27 on Thursday. The business’s 50-day moving average price is $594.50 and its two-hundred day moving average price is $524.44. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19. The firm has a market capitalization of $156.74 billion, a PE ratio of 32.71, a price-to-earnings-growth ratio of 2.05 and a beta of 0.98. The company has a current ratio of 2.21, a quick ratio of 1.96 and a debt-to-equity ratio of 1.59.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, February 19th. The industrial products company reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.52. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.The firm had revenue of $9.61 billion for the quarter, compared to analyst estimates of $7.50 billion. During the same quarter in the previous year, the company posted $3.19 EPS. The business’s revenue was up 17.5% on a year-over-year basis. On average, analysts expect that Deere & Company will post 18 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Tuesday, March 31st will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Tuesday, March 31st. Deere & Company’s payout ratio is 36.53%.

Deere & Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.