Deere & Company (NYSE:DE) Shares Sold by Lyell Wealth Management LP

Lyell Wealth Management LP lessened its stake in shares of Deere & Company (NYSE:DE) by 1.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,212 shares of the industrial products company’s stock after selling 196 shares during the quarter. Lyell Wealth Management LP’s holdings in Deere & Company were worth $6,022,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Pineridge Advisors LLC grew its position in Deere & Company by 60.5% in the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after buying an additional 26 shares during the last quarter. Modus Advisors LLC acquired a new position in Deere & Company in the fourth quarter worth approximately $32,000. YANKCOM Partnership acquired a new position in Deere & Company in the fourth quarter worth approximately $34,000. Synergy Asset Management LLC acquired a new position in Deere & Company in the fourth quarter worth approximately $35,000. Finally, Continuum Advisory LLC grew its position in 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 last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of DE opened at $501.40 on Wednesday. The company has a market capitalization of $136.55 billion, a PE ratio of 22.22, a price-to-earnings-growth ratio of 2.96 and a beta of 0.98. Deere & Company has a one year low of $340.20 and a one year high of $502.10. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. The company’s fifty day moving average price is $448.71 and its 200 day moving average price is $418.73.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. As a group, analysts expect that Deere & Company will post 19.35 earnings per share for the current year.

Deere & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st were issued a dividend of $1.62 per share. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date was Tuesday, December 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.29%. Deere & Company’s payout ratio is presently 28.72%.

Wall Street Analyst Weigh In

Several research firms have issued reports on DE. JPMorgan Chase & Co. lifted their price target on shares of Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Truist Financial reaffirmed a “buy” rating and issued a $546.00 price objective (down previously from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. Jefferies Financial Group lowered shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective for the company. in a research note on Friday, December 6th. UBS Group raised their price objective 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. Finally, Oppenheimer raised their price objective on shares of Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $450.12.

Deere & Company Company Profile

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.