Ballast Inc. Has $983,000 Holdings in Deere & Company (NYSE:DE)

Ballast Inc. raised its stake in shares of Deere & Company (NYSE:DE) by 16.7% in the 4th quarter, Holdings Channel reports. The firm owned 2,459 shares of the industrial products company’s stock after purchasing an additional 351 shares during the quarter. Ballast Inc.’s holdings in Deere & Company were worth $983,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in DE. Accel Wealth Management lifted its holdings in Deere & Company by 1.6% in the fourth quarter. Accel Wealth Management now owns 6,919 shares of the industrial products company’s stock valued at $2,767,000 after buying an additional 109 shares during the period. Trueblood Wealth Management LLC bought a new stake in shares of Deere & Company during the 4th quarter valued at about $525,000. Good Life Advisors LLC grew its stake in Deere & Company by 9.8% during the fourth quarter. Good Life Advisors LLC now owns 3,049 shares of the industrial products company’s stock worth $1,219,000 after purchasing an additional 272 shares during the period. Great Lakes Retirement Inc. boosted its holdings in shares of Deere & Company by 3.0% during the 4th quarter. Great Lakes Retirement Inc. now owns 5,662 shares of the industrial products company’s stock worth $2,264,000 after buying an additional 163 shares in the last quarter. Finally, WASHINGTON TRUST Co increased its stake in shares of Deere & Company by 0.9% in the 4th quarter. WASHINGTON TRUST Co now owns 8,475 shares of the industrial products company’s stock valued at $3,389,000 after acquiring an additional 77 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Up 0.4 %

Shares of Deere & Company stock opened at $410.74 on Friday. The stock has a market capitalization of $114.33 billion, a price-to-earnings ratio of 11.96, a P/E/G ratio of 1.54 and a beta of 1.03. 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 company’s 50 day moving average price is $380.44 and its 200-day moving average price is $381.52. Deere & Company has a 52-week low of $345.55 and a 52-week high of $450.00.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, topping analysts’ consensus estimates of $5.19 by $1.04. The firm had revenue of $10.49 billion for the quarter, compared to analyst estimates of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The business’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same period last year, the company earned $6.55 EPS. Equities research analysts forecast that Deere & Company will post 27.41 EPS for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th will be issued a $1.47 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $5.88 annualized dividend and a yield of 1.43%. Deere & Company’s dividend payout ratio (DPR) is presently 17.12%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Morgan Stanley initiated coverage on shares of Deere & Company in a research note on Monday, January 8th. They issued an “overweight” rating and a $430.00 price target for the company. 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 report on Tuesday, February 20th. Wells Fargo & Company reduced 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 report 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 for the company in a report on Friday, February 16th. Finally, Truist Financial started coverage on shares of Deere & Company in a research report on Thursday, March 14th. They issued a “buy” rating and a $494.00 price target on the stock. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Deere & Company currently has an average rating of “Moderate Buy” and a consensus price target of $431.69.

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.