E&G Advisors LP Reduces Position in Deere & Company (NYSE:DE)

E&G Advisors LP lowered its position in shares of Deere & Company (NYSE:DE) by 4.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,293 shares of the industrial products company’s stock after selling 100 shares during the period. E&G Advisors LP’s holdings in Deere & Company were worth $972,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Modus Advisors LLC purchased a new stake in Deere & Company in the fourth quarter valued at $32,000. Livelsberger Financial Advisory purchased a new stake in shares of Deere & Company in the 3rd quarter valued at about $32,000. Synergy Asset Management LLC acquired a new stake in shares of Deere & Company in the 4th quarter valued at about $35,000. Continuum Advisory LLC grew its stake in Deere & Company by 155.8% during the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after buying an additional 67 shares during the last quarter. Finally, Darwin Wealth Management LLC acquired a new position in Deere & Company during the third quarter worth approximately $47,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

NYSE DE opened at $467.07 on Tuesday. The business has a 50 day moving average price of $444.68 and a 200 day moving average price of $410.23. The company has a market capitalization of $127.21 billion, a P/E ratio of 18.24, a PEG ratio of 2.94 and a beta of 0.98. Deere & Company has a 1-year low of $340.20 and a 1-year high of $485.84. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90.

Deere & Company (NYSE:DE) last released its quarterly earnings results 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 business had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The business’s revenue was down 32.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $8.26 EPS. Sell-side analysts expect that Deere & Company will post 19.38 EPS for the current fiscal 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 paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.39%. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend is Tuesday, December 31st. Deere & Company’s dividend payout ratio (DPR) is 25.31%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on DE shares. Morgan Stanley raised their target price on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Jefferies Financial Group lowered shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective on the stock. in a research note on Friday, December 6th. Oppenheimer increased their target price on shares of Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Barclays increased their price objective on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Finally, Truist Financial upped their price target on Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Eleven 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, the company has an average rating of “Hold” and an average target price of $444.50.

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.