Deere & Company (NYSE:DE) Stake Lowered by Accurate Wealth Management LLC

Accurate Wealth Management LLC cut its stake in shares of Deere & Company (NYSE:DE) by 7.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,761 shares of the industrial products company’s stock after selling 149 shares during the quarter. Accurate Wealth Management LLC’s holdings in Deere & Company were worth $719,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Federated Hermes Inc. grew its holdings in Deere & Company by 2.1% in the 2nd quarter. Federated Hermes Inc. now owns 15,896 shares of the industrial products company’s stock worth $5,939,000 after buying an additional 332 shares in the last quarter. One Capital Management LLC bought a new position in Deere & Company in the 2nd quarter worth approximately $272,000. Edgestream Partners L.P. bought a new position in Deere & Company in the 2nd quarter worth approximately $216,000. Mutual of America Capital Management LLC grew its holdings in Deere & Company by 5.5% in the 2nd quarter. Mutual of America Capital Management LLC now owns 41,179 shares of the industrial products company’s stock worth $15,386,000 after buying an additional 2,153 shares in the last quarter. Finally, Tredje AP fonden grew its holdings in Deere & Company by 50.2% in the 2nd quarter. Tredje AP fonden now owns 244,059 shares of the industrial products company’s stock worth $91,188,000 after buying an additional 81,600 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Price Performance

DE opened at $428.84 on Thursday. The stock has a fifty day moving average of $429.20 and a 200-day moving average of $400.87. The firm has a market capitalization of $116.80 billion, a P/E ratio of 16.75, a PEG ratio of 1.88 and a beta of 0.98. Deere & Company has a 12-month low of $340.20 and a 12-month high of $469.39. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.89 by $0.66. The company had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The company’s revenue for the quarter was down 32.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $8.26 earnings per share. Equities analysts forecast that Deere & Company will post 19.41 EPS for the current fiscal year.

Deere & Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be paid a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.51%. Deere & Company’s dividend payout ratio is 25.31%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on DE shares. Truist Financial increased their price objective on Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Barclays upped their target price on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Morgan Stanley upped their target price on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Citigroup cut their target price on Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a research report on Tuesday. Finally, Oppenheimer upped their target price on Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Deere & Company has a consensus rating of “Hold” and an average price target of $442.83.

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.