Asset Dedication LLC Trims Position in Deere & Company (NYSE:DE)

Asset Dedication LLC cut its holdings in Deere & Company (NYSE:DE) by 10.7% in the 4th quarter, HoldingsChannel reports. The fund owned 2,063 shares of the industrial products company’s stock after selling 246 shares during the period. Asset Dedication LLC’s holdings in Deere & Company were worth $874,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Modus Advisors LLC acquired a new position in Deere & Company in the fourth quarter valued at $32,000. Livelsberger Financial Advisory acquired a new position in shares of Deere & Company during the 3rd quarter valued at about $32,000. Centennial Bank AR lifted its holdings in shares of Deere & Company by 420.0% during the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 84 shares during the period. Continuum Advisory LLC lifted its holdings in shares of 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 acquiring an additional 67 shares during the period. Finally, Darwin Wealth Management LLC acquired a new stake in shares of Deere & Company in the third quarter worth approximately $47,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on DE. UBS Group increased their price target 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. Morgan Stanley increased their target price on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Barclays upped their price target on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Citigroup reduced their price objective on Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. boosted their target price on Deere & Company from $450.00 to $470.00 and gave the stock a “neutral” rating in a report on Wednesday, January 15th. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $444.50.

Deere & Company Stock Performance

NYSE:DE opened at $478.50 on Thursday. The firm has a 50-day moving average of $441.75 and a two-hundred day moving average of $408.11. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. The stock has a market cap of $130.32 billion, a P/E ratio of 18.69, a PEG ratio of 2.84 and a beta of 0.98. Deere & Company has a 1-year low of $340.20 and a 1-year high of $485.84.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, beating analysts’ consensus estimates of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The firm had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. During the same quarter in the prior year, the business posted $8.26 earnings per share. Deere & Company’s revenue for the quarter was down 32.8% on a year-over-year basis. On average, research analysts expect that Deere & Company will post 19.34 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.35%. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio (DPR) is presently 25.31%.

About Deere & Company

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.