Deere & Company (NYSE:DE) Shares Sold by Wealthspan Partners LLC

Wealthspan Partners LLC lowered its holdings in Deere & Company (NYSE:DE) by 4.3% during the fourth quarter, HoldingsChannel reports. The fund owned 28,506 shares of the industrial products company’s stock after selling 1,271 shares during the period. Deere & Company accounts for about 5.8% of Wealthspan Partners LLC’s investment portfolio, making the stock its 3rd biggest holding. Wealthspan Partners LLC’s holdings in Deere & Company were worth $12,078,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. DLK Investment Management LLC raised its holdings in Deere & Company by 0.3% during the fourth 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. Mattern Wealth Management LLC grew its position in shares of 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 valued at $786,000 after buying an additional 25 shares during the last quarter. Carret Asset Management LLC raised its stake 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 worth $3,401,000 after acquiring an additional 25 shares in the last quarter. Round Rock Advisors LLC lifted its position in Deere & Company by 2.0% in the third quarter. Round Rock Advisors LLC now owns 1,252 shares of the industrial products company’s stock valued at $522,000 after acquiring an additional 25 shares during the last quarter. Finally, Douglas Lane & Associates LLC boosted its stake in Deere & Company by 4.7% in the fourth quarter. Douglas Lane & Associates LLC now owns 557 shares of the industrial products company’s stock valued at $236,000 after acquiring an additional 25 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on DE shares. Morgan Stanley boosted their target price on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Oppenheimer boosted their price objective on Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. JPMorgan Chase & Co. raised their target price on shares of Deere & Company from $450.00 to $470.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 15th. Citigroup reduced their price target 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 raised their price objective on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Eleven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Deere & Company presently has a consensus rating of “Hold” and a consensus price target of $444.50.

Deere & Company Stock Performance

Shares of DE stock opened at $476.29 on Monday. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89. Deere & Company has a 12-month low of $340.20 and a 12-month high of $485.84. The company has a market cap of $129.72 billion, a price-to-earnings ratio of 18.61, a price-to-earnings-growth ratio of 2.94 and a beta of 0.98. The stock has a 50 day simple moving average of $444.68 and a 200-day simple moving average of $410.23.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 31.32% and a net margin of 13.73%. Deere & Company’s revenue was down 32.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $8.26 earnings per share. On average, equities analysts forecast that Deere & Company will post 19.38 EPS for the current year.

Deere & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be issued a dividend of $1.62 per share. The ex-dividend date is Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.36%. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s payout ratio is currently 25.31%.

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.