Pittenger & Anderson Inc. Acquires 88 Shares of Deere & Company (NYSE:DE)

Pittenger & Anderson Inc. grew its position in Deere & Company (NYSE:DE) by 29.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 388 shares of the industrial products company’s stock after purchasing an additional 88 shares during the period. Pittenger & Anderson Inc.’s holdings in Deere & Company were worth $155,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Briaud Financial Planning Inc acquired a new stake in shares of Deere & Company in the third quarter valued at about $25,000. ZRC Wealth Management LLC acquired a new stake in shares of Deere & Company in the fourth quarter valued at about $28,000. Rakuten Securities Inc. acquired a new stake in shares of Deere & Company in the fourth quarter valued at about $28,000. Naples Money Management LLC acquired a new stake in shares of Deere & Company in the fourth quarter valued at about $29,000. Finally, Bfsg LLC acquired a new position in Deere & Company during the fourth quarter worth approximately $30,000. 68.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Stifel Nicolaus reduced their price objective on Deere & Company from $435.00 to $425.00 and set a “buy” rating for the company in a report on Friday, February 16th. 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 target for the company. Truist Financial assumed coverage on Deere & Company in a research note on Thursday, March 14th. They issued a “buy” rating and a $494.00 price target for the company. Melius Research restated a “hold” rating on shares of Deere & Company in a research note on Monday, January 8th. Finally, JPMorgan Chase & Co. upped their target price on Deere & Company from $415.00 to $425.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Deere & Company currently has an average rating of “Hold” and an average target price of $433.28.

Deere & Company Stock Down 0.1 %

NYSE:DE traded down $0.56 on Thursday, hitting $394.06. The stock had a trading volume of 1,272,020 shares, compared to its average volume of 1,478,236. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.81 and a current ratio of 2.05. The stock has a market cap of $109.69 billion, a P/E ratio of 11.29, a price-to-earnings-growth ratio of 1.49 and a beta of 1.04. Deere & Company has a 1 year low of $345.55 and a 1 year high of $450.00. The firm’s fifty day simple moving average is $386.62 and its two-hundred day simple moving average is $383.47.

Deere & Company (NYSE:DE) last posted 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 firm 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%. The company’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter last year, the business posted $6.55 EPS. Analysts predict that Deere & Company will post 27.37 earnings per share for the current year.

Deere & Company Announces Dividend

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. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $5.88 dividend on an annualized basis and a yield of 1.49%. Deere & Company’s dividend payout ratio is 17.12%.

Deere & 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.