Madison Wealth Partners Inc Cuts Holdings in Deere & Company (NYSE:DE)

Madison Wealth Partners Inc decreased its holdings in Deere & Company (NYSE:DE) by 21.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,495 shares of the industrial products company’s stock after selling 402 shares during the period. Madison Wealth Partners Inc’s holdings in Deere & Company were worth $598,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Essex Savings Bank raised its stake in shares of Deere & Company by 0.5% during the 4th quarter. Essex Savings Bank now owns 5,367 shares of the industrial products company’s stock worth $2,146,000 after acquiring an additional 26 shares in the last quarter. Valley National Advisers Inc. increased its position in shares of Deere & Company by 1.5% during the fourth quarter. Valley National Advisers Inc. now owns 1,879 shares of the industrial products company’s stock worth $751,000 after purchasing an additional 27 shares in the last quarter. Bleakley Financial Group LLC lifted its holdings in shares of Deere & Company by 0.5% during the 4th quarter. Bleakley Financial Group LLC now owns 5,158 shares of the industrial products company’s stock valued at $2,063,000 after purchasing an additional 27 shares during the last quarter. Simplicity Solutions LLC boosted its position in shares of Deere & Company by 0.5% in the 4th quarter. Simplicity Solutions LLC now owns 5,158 shares of the industrial products company’s stock worth $2,063,000 after purchasing an additional 27 shares in the last quarter. Finally, Blue Chip Partners LLC grew its stake in Deere & Company by 2.3% during the 4th quarter. Blue Chip Partners LLC now owns 1,223 shares of the industrial products company’s stock worth $489,000 after buying an additional 27 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of Deere & Company stock traded up $0.08 during trading hours on Friday, reaching $378.03. 1,485,203 shares of the company’s stock were exchanged, compared to its average volume of 1,463,519. The business has a fifty day moving average of $391.08 and a two-hundred day moving average of $385.96. The company has a market capitalization of $104.17 billion, a P/E ratio of 11.37, a price-to-earnings-growth ratio of 1.49 and a beta of 0.98. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81. Deere & Company has a 1 year low of $353.15 and a 1 year high of $450.00.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share for the quarter, topping the consensus estimate of $7.86 by $0.67. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The business had revenue of $13.61 billion for the quarter, compared to analysts’ expectations of $13.29 billion. During the same period in the previous year, the firm posted $9.65 EPS. The business’s revenue for the quarter was down 15.4% compared to the same quarter last year. As a group, research analysts predict that Deere & Company will post 25.61 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Friday, June 28th will be issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Friday, June 28th. Deere & Company’s dividend payout ratio is presently 17.70%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on DE shares. Citigroup lowered their target price on shares of Deere & Company from $450.00 to $435.00 and set a “buy” rating for the company in a research note on Friday, February 16th. Wells Fargo & Company cut their target price on Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a research report on Friday, February 16th. Deutsche Bank Aktiengesellschaft lowered their price target on Deere & Company from $425.00 to $401.00 and set a “hold” rating for the company in a research report on Friday, February 16th. DA Davidson dropped their price target on Deere & Company from $483.00 to $465.00 and set a “buy” rating on the stock in a research note on Monday, May 20th. Finally, Truist Financial assumed coverage on Deere & Company in a research note on Thursday, March 14th. They issued a “buy” rating and a $494.00 price objective for the company. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $433.36.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.