CX Institutional Reduces Holdings in Deere & Company (NYSE:DE)

CX Institutional trimmed its holdings in shares of Deere & Company (NYSE:DE) by 85.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,726 shares of the industrial products company’s stock after selling 9,849 shares during the quarter. CX Institutional’s holdings in Deere & Company were worth $731,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Livelsberger Financial Advisory purchased a new stake in shares of Deere & Company in the 3rd quarter worth $32,000. Modus Advisors LLC bought a new stake in Deere & Company during the fourth quarter valued at about $32,000. Centennial Bank AR increased its position in Deere & Company by 420.0% in the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after buying an additional 84 shares in the last quarter. Continuum Advisory LLC raised its stake in shares of Deere & Company by 155.8% in the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after buying an additional 67 shares during the period. Finally, Darwin Wealth Management LLC purchased a new position in shares of Deere & Company during the 3rd quarter valued at about $47,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Trading Up 0.9 %

NYSE DE opened at $478.90 on Friday. The company has a market capitalization of $130.43 billion, a price-to-earnings ratio of 18.71, a price-to-earnings-growth ratio of 2.84 and a beta of 0.98. The company’s 50-day simple moving average is $438.55 and its two-hundred day simple moving average is $405.66. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. Deere & Company has a one year low of $340.20 and a one year high of $479.48.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.89 by $0.66. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The company had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. During the same period last year, the company posted $8.26 earnings per share. Deere & Company’s revenue was down 32.8% compared to the same quarter last year. Equities analysts forecast that Deere & Company will post 19.34 EPS for the current fiscal year.

Deere & Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.35%. The ex-dividend date is Tuesday, December 31st. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s payout ratio is 25.31%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. UBS Group raised their target price on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Truist Financial raised their price objective on shares of Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Jefferies Financial Group lowered Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target for the company. in a research note on Friday, December 6th. Barclays boosted their price objective on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Finally, Morgan Stanley boosted their target price on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $442.83.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.