Klingman & Associates LLC Has $611,000 Position in Deere & Company (NYSE:DE)

Klingman & Associates LLC lowered its holdings in shares of Deere & Company (NYSE:DE) by 20.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,441 shares of the industrial products company’s stock after selling 362 shares during the quarter. Klingman & Associates LLC’s holdings in Deere & Company were worth $611,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of DE. Resonant Capital Advisors LLC acquired a new stake in shares of Deere & Company during the third quarter worth about $206,000. Vest Financial LLC raised its position in shares of Deere & Company by 196.4% during the third quarter. Vest Financial LLC now owns 2,030 shares of the industrial products company’s stock worth $847,000 after purchasing an additional 1,345 shares during the period. Ledyard National Bank raised its position in shares of Deere & Company by 3.3% during the third quarter. Ledyard National Bank now owns 1,231 shares of the industrial products company’s stock worth $514,000 after purchasing an additional 39 shares during the period. Calton & Associates Inc. acquired a new stake in shares of Deere & Company during the third quarter worth about $270,000. Finally, Fortis Group Advisors LLC grew its holdings in shares of Deere & Company by 357.8% during the third quarter. Fortis Group Advisors LLC now owns 618 shares of the industrial products company’s stock worth $258,000 after buying an additional 483 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of NYSE DE opened at $501.40 on Wednesday. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89. Deere & Company has a 12 month low of $340.20 and a 12 month high of $502.10. The stock has a 50 day moving average of $448.71 and a 200-day moving average of $418.73. The company has a market capitalization of $136.56 billion, a P/E ratio of 19.59, a P/E/G ratio of 2.87 and a beta of 0.98.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, topping the consensus estimate of $3.14 by $0.05. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. As a group, equities research analysts predict that Deere & Company will post 19.38 EPS for the current year.

Deere & Company Increases Dividend

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

Wall Street Analysts Forecast Growth

DE has been the subject of a number of research reports. Truist Financial reiterated a “buy” rating and set a $546.00 price objective (down from $550.00) on shares of Deere & Company in a report on Friday, February 14th. JPMorgan Chase & Co. increased their price objective on Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Citigroup increased their price objective on Deere & Company from $430.00 to $480.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. UBS Group increased their price objective on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, Barclays increased their price objective on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $450.12.

Deere & 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.