Constitution Capital LLC Cuts Position in Deere & Company (NYSE:DE)

Constitution Capital LLC lowered its position in Deere & Company (NYSE:DE) by 2.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,200 shares of the industrial products company’s stock after selling 25 shares during the quarter. Constitution Capital LLC’s holdings in Deere & Company were worth $508,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DE. Federated Hermes Inc. boosted its holdings in Deere & Company by 2.1% in the second quarter. Federated Hermes Inc. now owns 15,896 shares of the industrial products company’s stock valued at $5,939,000 after purchasing an additional 332 shares in the last quarter. Edgestream Partners L.P. acquired a new position in shares of Deere & Company in the 2nd quarter valued at $216,000. Waterloo Capital L.P. boosted its holdings in shares of Deere & Company by 23.3% in the 2nd quarter. Waterloo Capital L.P. now owns 1,717 shares of the industrial products company’s stock valued at $642,000 after buying an additional 325 shares in the last quarter. Foresight Group Ltd Liability Partnership grew its position in shares of Deere & Company by 113.0% in the 2nd quarter. Foresight Group Ltd Liability Partnership now owns 2,418 shares of the industrial products company’s stock valued at $903,000 after buying an additional 1,283 shares during the last quarter. Finally, Garner Asset Management Corp raised its stake in Deere & Company by 1.1% during the 2nd quarter. Garner Asset Management Corp now owns 2,799 shares of the industrial products company’s stock worth $1,046,000 after acquiring an additional 31 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of DE opened at $439.29 on Friday. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89. The stock’s 50 day moving average is $429.66 and its two-hundred day moving average is $401.06. Deere & Company has a twelve month low of $340.20 and a twelve month high of $469.39. The firm has a market capitalization of $119.30 billion, a PE ratio of 17.16, a P/E/G ratio of 1.74 and a beta of 0.98.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating analysts’ consensus estimates of $3.89 by $0.66. The firm had revenue of $9.28 billion for 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 company’s revenue for the quarter was down 32.8% compared to the same quarter last year. During the same period in the previous year, the business 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 business also recently declared 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. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.48%. Deere & Company’s dividend payout ratio is 25.31%.

Analyst Ratings Changes

DE has been the topic of several research reports. Morgan Stanley raised their price objective on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Citigroup dropped their price target on Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a research note on Tuesday. Oppenheimer boosted their price objective on Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Jefferies Financial Group lowered shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a research report on Friday, December 6th. Finally, UBS Group upped their price target on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Deere & Company currently has an average rating of “Hold” and a consensus 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.