Purus Wealth Management LLC Sells 25 Shares of Deere & Company (NYSE:DE)

Purus Wealth Management LLC lessened its position in shares of Deere & Company (NYSE:DE) by 0.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,421 shares of the industrial products company’s stock after selling 25 shares during the period. Purus Wealth Management LLC’s holdings in Deere & Company were worth $1,449,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Edgestream Partners L.P. bought a new stake in shares of Deere & Company in the second quarter valued at about $216,000. AE Wealth Management LLC increased its holdings in shares of Deere & Company by 35.0% during the second quarter. AE Wealth Management LLC now owns 7,245 shares of the industrial products company’s stock worth $2,707,000 after purchasing an additional 1,877 shares during the period. Pacer Advisors Inc. increased its holdings in shares of Deere & Company by 2.3% during the second quarter. Pacer Advisors Inc. now owns 18,573 shares of the industrial products company’s stock worth $6,939,000 after purchasing an additional 417 shares during the period. Thrivent Financial for Lutherans raised its position in shares of Deere & Company by 5.9% in the second quarter. Thrivent Financial for Lutherans now owns 31,298 shares of the industrial products company’s stock valued at $11,694,000 after buying an additional 1,740 shares in the last quarter. Finally, ProShare Advisors LLC boosted its stake in shares of Deere & Company by 6.0% in the second quarter. ProShare Advisors LLC now owns 36,191 shares of the industrial products company’s stock valued at $13,522,000 after buying an additional 2,034 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Performance

NYSE:DE opened at $456.57 on Monday. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $469.39. The company has a 50 day simple moving average of $431.48 and a two-hundred day simple moving average of $402.25. The company has a market capitalization of $124.00 billion, a PE ratio of 17.83, a P/E/G ratio of 1.74 and a beta of 0.98.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, topping analysts’ consensus estimates of $3.89 by $0.66. The business had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. Deere & Company’s quarterly revenue was down 32.8% on a year-over-year basis. During the same quarter last year, the firm earned $8.26 earnings per share. Research analysts anticipate that Deere & Company will post 19.57 earnings per share for the current year.

Deere & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be given a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a dividend yield of 1.42%. Deere & Company’s dividend payout ratio (DPR) is 25.31%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on DE shares. Barclays lifted their price objective on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Oppenheimer boosted their price target on Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. UBS Group increased their price objective on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Citigroup dropped their target price on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Finally, Truist Financial upped their price target on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $442.83.

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.