Obermeyer Wood Investment Counsel Lllp Buys 191 Shares of Deere & Company (NYSE:DE)

Obermeyer Wood Investment Counsel Lllp boosted its stake in shares of Deere & Company (NYSE:DE) by 11.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,933 shares of the industrial products company’s stock after acquiring an additional 191 shares during the period. Obermeyer Wood Investment Counsel Lllp’s holdings in Deere & Company were worth $773,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of DE. Briaud Financial Planning Inc acquired a new position in Deere & Company during the 3rd quarter worth about $25,000. Retirement Group LLC lifted its holdings in Deere & Company by 264.7% during the 2nd quarter. Retirement Group LLC now owns 62 shares of the industrial products company’s stock worth $25,000 after buying an additional 45 shares during the period. ZRC Wealth Management LLC acquired a new position in Deere & Company during the 4th quarter worth about $28,000. Rakuten Securities Inc. acquired a new position in Deere & Company during the 4th quarter worth about $28,000. Finally, Worth Asset Management LLC acquired a new position in Deere & Company during the 1st quarter worth about $28,000. Institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on DE shares. Melius Research reaffirmed a “hold” rating on shares of Deere & Company in a report on Monday, January 8th. Citigroup dropped their price objective on Deere & Company from $450.00 to $435.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. Evercore ISI boosted their price objective on Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a research note on Tuesday, February 20th. Deutsche Bank Aktiengesellschaft dropped their price objective 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. Finally, Morgan Stanley started coverage on Deere & Company in a research note on Monday, January 8th. They issued an “overweight” rating and a $430.00 price objective on the stock. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $433.28.

Deere & Company Stock Up 1.0 %

Shares of DE stock traded up $3.99 during trading hours on Thursday, hitting $400.87. 1,562,911 shares of the company’s stock traded hands, compared to its average volume of 1,501,047. The stock’s fifty day simple moving average is $385.17 and its two-hundred day simple moving average is $382.66. Deere & Company has a 12-month low of $345.55 and a 12-month high of $450.00. The stock has a market cap of $111.59 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 1.48 and a beta of 1.04. 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 (NYSE:DE) last released its earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $1.04. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The firm had revenue of $10.49 billion during the quarter, compared to analyst estimates of $10.30 billion. During the same period last year, the business earned $6.55 earnings per share. The business’s revenue was down 8.0% on a year-over-year basis. On average, analysts expect that Deere & Company will post 27.39 EPS for the current year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend is Wednesday, March 27th. Deere & Company’s dividend payout ratio (DPR) is currently 17.12%.

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.