TCV Trust & Wealth Management Inc. Trims Position in Deere & Company (NYSE:DE)

TCV Trust & Wealth Management Inc. decreased its position in shares of Deere & Company (NYSE:DE) by 1.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,412 shares of the industrial products company’s stock after selling 27 shares during the period. TCV Trust & Wealth Management Inc.’s holdings in Deere & Company were worth $1,022,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Robertson Stephens Wealth Management LLC lifted its position in shares of Deere & Company by 2.2% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company’s stock valued at $426,000 after acquiring an additional 22 shares in the last quarter. DLK Investment Management LLC lifted its holdings in Deere & Company by 0.3% in the 4th quarter. DLK Investment Management LLC now owns 8,212 shares of the industrial products company’s stock worth $3,479,000 after purchasing an additional 24 shares in the last quarter. Quent Capital LLC lifted its holdings in Deere & Company by 2.8% in the 4th quarter. Quent Capital LLC now owns 889 shares of the industrial products company’s stock worth $377,000 after purchasing an additional 24 shares in the last quarter. Mattern Wealth Management LLC boosted its stake in Deere & Company by 1.3% in the 3rd quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock worth $786,000 after purchasing an additional 25 shares during the period. Finally, Carret Asset Management LLC grew its holdings in Deere & Company by 0.3% during the 3rd quarter. Carret Asset Management LLC now owns 8,148 shares of the industrial products company’s stock valued at $3,401,000 after buying an additional 25 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Up 1.0 %

NYSE DE opened at $474.79 on Wednesday. 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 has a 52 week low of $340.20 and a 52 week high of $485.84. The firm has a market capitalization of $129.31 billion, a price-to-earnings ratio of 18.55, a PEG ratio of 2.87 and a beta of 0.98. The company has a fifty day moving average of $445.15 and a two-hundred day moving average of $414.08.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping analysts’ consensus estimates of $3.89 by $0.66. The firm had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The firm’s revenue for the quarter was down 32.8% compared to the same quarter last year. During the same period in the previous year, the company earned $8.26 EPS. On average, analysts predict that Deere & Company will post 19.38 earnings per share 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 a boost from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date was Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.36%. Deere & Company’s dividend payout ratio is currently 25.31%.

Analysts Set New Price Targets

DE has been the topic of several research analyst reports. Citigroup lowered their target price on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Truist Financial boosted their price target on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. UBS Group raised their price objective on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Jefferies Financial Group cut Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a report on Friday, December 6th. Finally, Barclays increased their price target on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Deere & Company currently has a consensus rating of “Hold” and an average price target of $446.17.

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.