Weybosset Research & Management LLC Has $21.11 Million Holdings in Deere & Company (NYSE:DE)

Weybosset Research & Management LLC lessened its holdings in shares of Deere & Company (NYSE:DE) by 0.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 49,819 shares of the industrial products company’s stock after selling 358 shares during the quarter. Deere & Company makes up approximately 7.2% of Weybosset Research & Management LLC’s portfolio, making the stock its 3rd largest holding. Weybosset Research & Management LLC’s holdings in Deere & Company were worth $21,108,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Baker Tilly Wealth Management LLC increased its holdings in shares of Deere & Company by 9.5% during the 4th quarter. Baker Tilly Wealth Management LLC now owns 635 shares of the industrial products company’s stock valued at $269,000 after acquiring an additional 55 shares during the last quarter. Legacy Private Trust Co. acquired a new stake in shares of Deere & Company in the fourth quarter worth $247,000. Douglas Lane & Associates LLC boosted its holdings in shares of Deere & Company by 4.7% during the 4th quarter. Douglas Lane & Associates LLC now owns 557 shares of the industrial products company’s stock worth $236,000 after buying an additional 25 shares during the period. Private Client Services LLC acquired a new position in Deere & Company in the 4th quarter valued at $203,000. Finally, Peoples Bank KS raised its holdings in Deere & Company by 335.6% in the 4th quarter. Peoples Bank KS now owns 1,298 shares of the industrial products company’s stock worth $550,000 after acquiring an additional 1,000 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on DE shares. Citigroup boosted their target price on shares of Deere & Company from $460.00 to $470.00 and gave the stock a “neutral” rating in a research report on Monday, December 9th. Jefferies Financial Group lowered shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective for the company. in a research report on Friday, December 6th. Truist Financial boosted their price target on Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Barclays raised their target price 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, Oppenheimer increased their price objective on shares of Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $443.94.

Deere & Company Stock Down 1.3 %

Deere & Company stock traded down $5.23 during midday trading on Friday, reaching $404.77. The stock had a trading volume of 220,326 shares, compared to its average volume of 875,292. The stock has a market capitalization of $109.93 billion, a P/E ratio of 15.81, a price-to-earnings-growth ratio of 1.91 and a beta of 0.98. The firm’s fifty day simple moving average is $427.83 and its 200-day simple moving average is $399.49. 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 1-year low of $340.20 and a 1-year high of $469.39.

Deere & Company (NYSE:DE) last posted its quarterly earnings data 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. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The company had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. During the same period in the prior year, the business posted $8.26 EPS. The company’s quarterly revenue was down 32.8% on a year-over-year basis. As a group, analysts expect that Deere & Company will post 19.52 EPS for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date is Tuesday, December 31st. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s payout ratio is 25.31%.

About Deere & Company

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.