Deere & Company (NYSE:DE) Shares Sold by Wealth Alliance

Wealth Alliance cut its position in shares of Deere & Company (NYSE:DEFree Report) by 13.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 913 shares of the industrial products company’s stock after selling 140 shares during the period. Wealth Alliance’s holdings in Deere & Company were worth $345,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Hodges Capital Management Inc. boosted its holdings in Deere & Company by 4.0% during the second quarter. Hodges Capital Management Inc. now owns 8,895 shares of the industrial products company’s stock worth $5,225,000 after buying an additional 341 shares in the last quarter. Westwood Holdings Group Inc. boosted its holdings in Deere & Company by 7.6% during the second quarter. Westwood Holdings Group Inc. now owns 53,191 shares of the industrial products company’s stock worth $21,552,000 after buying an additional 3,776 shares in the last quarter. Osaic Holdings Inc. boosted its holdings in Deere & Company by 5.6% during the second quarter. Osaic Holdings Inc. now owns 135,091 shares of the industrial products company’s stock worth $54,775,000 after buying an additional 7,182 shares in the last quarter. New Mexico Educational Retirement Board boosted its holdings in Deere & Company by 6.9% during the third quarter. New Mexico Educational Retirement Board now owns 14,002 shares of the industrial products company’s stock worth $5,284,000 after buying an additional 900 shares in the last quarter. Finally, Gratus Capital LLC raised its position in Deere & Company by 4.1% during the second quarter. Gratus Capital LLC now owns 2,982 shares of the industrial products company’s stock worth $1,208,000 after acquiring an additional 117 shares during the period. 66.27% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Trading Down 1.2 %

Shares of DE stock opened at $381.29 on Monday. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.90 and a quick ratio of 1.70. The firm has a market cap of $106.86 billion, a PE ratio of 11.00, a price-to-earnings-growth ratio of 1.11 and a beta of 1.05. The company has a 50-day moving average of $387.08 and a two-hundred day moving average of $390.65. Deere & Company has a 1-year low of $345.55 and a 1-year high of $450.00.

Deere & Company (NYSE:DEGet Free Report) last announced its earnings results on Wednesday, November 22nd. The industrial products company reported $8.26 earnings per share for the quarter, topping the consensus estimate of $7.46 by $0.80. The company had revenue of $13.80 billion during the quarter, compared to analyst estimates of $13.64 billion. Deere & Company had a net margin of 16.60% and a return on equity of 45.91%. Deere & Company’s revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the firm posted $7.44 earnings per share. On average, analysts predict that Deere & Company will post 28.46 EPS for the current year.

Deere & Company Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 8th. Shareholders of record on Friday, December 29th were paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend was Thursday, December 28th. This is a positive change from Deere & Company’s previous quarterly dividend of $1.35. Deere & Company’s dividend payout ratio (DPR) is 16.96%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Canaccord Genuity Group reduced their price objective on shares of Deere & Company from $400.00 to $375.00 and set a “hold” rating for the company in a research report on Monday, November 27th. Melius cut shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. TD Cowen reduced their target price on shares of Deere & Company from $438.00 to $396.00 and set a “market perform” rating for the company in a research report on Friday, November 24th. Morgan Stanley began coverage on shares of Deere & Company in a research report on Monday, January 8th. They issued an “overweight” rating and a $430.00 target price for the company. Finally, Melius Research reiterated a “hold” rating on shares of Deere & Company in a research report on Monday, January 8th. Ten analysts have rated the stock with a hold rating and eleven have assigned 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 $439.69.

Get Our Latest Stock Analysis on Deere & Company

Deere & 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

Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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