Trivant Custom Portfolio Group LLC Sells 6,191 Shares of Deere & Company (NYSE:DE)

Trivant Custom Portfolio Group LLC decreased its position in Deere & Company (NYSE:DE) by 63.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,637 shares of the industrial products company’s stock after selling 6,191 shares during the period. Trivant Custom Portfolio Group LLC’s holdings in Deere & Company were worth $1,707,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of DE. Price T Rowe Associates Inc. MD raised its stake in shares of Deere & Company by 19.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company’s stock worth $2,792,082,000 after purchasing an additional 1,095,736 shares during the period. Capital World Investors increased its holdings in Deere & Company by 2.7% during the fourth quarter. Capital World Investors now owns 6,058,259 shares of the industrial products company’s stock worth $2,566,884,000 after buying an additional 157,224 shares during the last quarter. FMR LLC raised its position in Deere & Company by 22.9% in the fourth quarter. FMR LLC now owns 5,581,408 shares of the industrial products company’s stock worth $2,364,843,000 after acquiring an additional 1,039,395 shares during the period. Geode Capital Management LLC boosted its stake in Deere & Company by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 5,305,571 shares of the industrial products company’s stock valued at $2,247,216,000 after acquiring an additional 97,203 shares during the last quarter. Finally, Norges Bank purchased a new position in Deere & Company in the fourth quarter valued at about $1,244,094,000. Institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on DE shares. Melius Research upgraded shares of Deere & Company from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 6th. The Goldman Sachs Group reissued a “buy” rating on shares of Deere & Company in a research report on Thursday, May 15th. Oppenheimer boosted their target price on Deere & Company from $513.00 to $555.00 and gave the company an “outperform” rating in a research note on Friday, May 16th. Truist Financial upped their price target on Deere & Company from $546.00 to $619.00 and gave the company a “buy” rating in a research report on Friday, May 16th. Finally, DA Davidson reiterated a “buy” rating and set a $542.00 price target on shares of Deere & Company in a research note on Friday, May 16th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $515.19.

Deere & Company Stock Up 0.4%

DE stock opened at $525.02 on Thursday. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 1.76. The firm has a market capitalization of $142.19 billion, a PE ratio of 25.40, a PEG ratio of 3.32 and a beta of 1.09. Deere & Company has a twelve month low of $340.20 and a twelve month high of $533.78. The stock has a 50-day simple moving average of $492.30 and a two-hundred day simple moving average of $469.71.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.72 by $0.92. Deere & Company had a net margin of 12.40% and a return on equity of 24.39%. The firm had revenue of $11.17 billion for the quarter, compared to the consensus estimate of $10.80 billion. During the same period in the prior year, the firm posted $8.53 earnings per share. The company’s revenue for the quarter was down 17.9% on a year-over-year basis. On average, equities analysts predict that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company’s dividend payout ratio is presently 31.35%.

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.