Deere & Company (NYSE:DE) Shares Sold by Ables Iannone Moore & Associates Inc.

Ables Iannone Moore & Associates Inc. lowered its stake in shares of Deere & Company (NYSE:DE) by 7.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,521 shares of the industrial products company’s stock after selling 345 shares during the quarter. Deere & Company comprises about 1.2% of Ables Iannone Moore & Associates Inc.’s holdings, making the stock its 19th largest position. Ables Iannone Moore & Associates Inc.’s holdings in Deere & Company were worth $1,916,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Fairscale Capital LLC purchased a new stake in shares of Deere & Company in the second quarter valued at approximately $26,000. Livelsberger Financial Advisory purchased a new stake in shares of Deere & Company during the 3rd quarter worth $32,000. Modus Advisors LLC acquired a new position in shares of Deere & Company during the 4th quarter worth $32,000. Centennial Bank AR increased its holdings in shares of Deere & Company by 420.0% in the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 84 shares in the last quarter. Finally, Continuum Advisory LLC lifted its stake in shares of Deere & Company by 155.8% in the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 67 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Down 1.0 %

NYSE DE traded down $4.20 during trading hours on Monday, hitting $418.02. The company had a trading volume of 1,072,368 shares, compared to its average volume of 852,436. The firm’s 50 day moving average is $427.38 and its 200 day moving average is $398.82. 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 has a fifty-two week low of $340.20 and a fifty-two week high of $469.39. The company has a market capitalization of $113.52 billion, a price-to-earnings ratio of 16.33, a P/E/G ratio of 1.91 and a beta of 0.98.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping the consensus estimate of $3.89 by $0.66. The firm had revenue of $9.28 billion for the quarter, compared to analyst estimates 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 for the quarter was down 32.8% on a year-over-year basis. During the same period in the previous year, the company posted $8.26 EPS. Sell-side analysts anticipate that Deere & Company will post 19.52 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be paid a dividend of $1.62 per share. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date is Tuesday, December 31st. This represents a $6.48 annualized dividend and a yield of 1.55%. Deere & Company’s payout ratio is 25.31%.

Wall Street Analysts Forecast Growth

DE has been the subject of several research analyst reports. Truist Financial raised their price objective on Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. 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. Barclays lifted their target price on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Citigroup increased their price target on shares of Deere & Company from $460.00 to $470.00 and gave the company a “neutral” rating in a research report on Monday, December 9th. Finally, Morgan Stanley lifted their price objective on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Thirteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Deere & Company currently has an average rating of “Hold” and an average target price of $443.94.

Deere & Company Profile

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.