1832 Asset Management L.P. decreased its stake in shares of Deere & Company (NYSE:DE – Free Report) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,980 shares of the industrial products company’s stock after selling 55 shares during the quarter. 1832 Asset Management L.P.’s holdings in Deere & Company were worth $792,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. ZRC Wealth Management LLC purchased a new stake in Deere & Company in the fourth quarter valued at $28,000. Rakuten Securities Inc. purchased a new stake in Deere & Company in the fourth quarter valued at $28,000. Naples Money Management LLC purchased a new stake in Deere & Company in the fourth quarter valued at $29,000. Private Wealth Management Group LLC purchased a new stake in Deere & Company in the fourth quarter valued at $29,000. Finally, Bfsg LLC purchased a new stake in Deere & Company in the fourth quarter valued at $30,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have commented on DE shares. Wells Fargo & Company reduced their target price on Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a research report on Friday, February 16th. Stifel Nicolaus lifted their price objective on Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Citigroup dropped their price objective on Deere & Company from $450.00 to $435.00 and set a “buy” rating for the company in a research note on Friday, February 16th. Daiwa Capital Markets lifted their price objective on Deere & Company from $400.00 to $420.00 and gave the company an “overweight” rating in a research note on Wednesday, May 15th. Finally, Truist Financial began coverage on Deere & Company in a research note on Thursday, March 14th. They issued a “buy” rating and a $494.00 price objective for the company. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $433.36.
Get Our Latest Report on Deere & Company
Deere & Company Trading Down 0.7 %
DE opened at $368.58 on Monday. Deere & Company has a 12 month low of $353.15 and a 12 month high of $450.00. The stock has a market capitalization of $101.57 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 1.47 and a beta of 0.98. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.01 and a quick ratio of 1.80. The business has a fifty day moving average price of $393.88 and a 200 day moving average price of $386.18.
Deere & Company (NYSE:DE – Get Free Report) last released its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.86 by $0.67. The business had revenue of $13.61 billion during the quarter, compared to analysts’ expectations of $13.29 billion. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The business’s quarterly revenue was down 15.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $9.65 EPS. Sell-side analysts expect that Deere & Company will post 25.73 earnings per share for the current fiscal year.
Deere & Company Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 28th will be given a dividend of $1.47 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.88 annualized dividend and a dividend yield of 1.60%. Deere & Company’s dividend payout ratio is currently 17.70%.
Deere & Company Company Profile
(Free Report)
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.
Further Reading
Want to see what other hedge funds are holding DE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Deere & Company (NYSE:DE – Free Report).
Receive News & Ratings for Deere & Company Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Deere & Company and related companies with MarketBeat.com’s FREE daily email newsletter.
