Deere & Company (NYSE:DE) Shares Sold by GPS Wealth Strategies Group LLC

GPS Wealth Strategies Group LLC reduced its holdings in Deere & Company (NYSE:DE) by 84.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 178 shares of the industrial products company’s stock after selling 962 shares during the quarter. GPS Wealth Strategies Group LLC’s holdings in Deere & Company were worth $76,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in DE. Czech National Bank lifted its holdings in shares of Deere & Company by 5.8% during the 3rd quarter. Czech National Bank now owns 52,206 shares of the industrial products company’s stock worth $21,787,000 after acquiring an additional 2,875 shares during the period. GAMMA Investing LLC raised its stake in Deere & Company by 29.0% during the third quarter. GAMMA Investing LLC now owns 2,290 shares of the industrial products company’s stock worth $956,000 after purchasing an additional 515 shares during the period. Chemistry Wealth Management LLC boosted its holdings in shares of Deere & Company by 372.8% in the 3rd quarter. Chemistry Wealth Management LLC now owns 3,177 shares of the industrial products company’s stock valued at $1,326,000 after purchasing an additional 2,505 shares during the last quarter. Miracle Mile Advisors LLC grew its stake in shares of Deere & Company by 4.2% during the 3rd quarter. Miracle Mile Advisors LLC now owns 4,112 shares of the industrial products company’s stock valued at $1,716,000 after buying an additional 167 shares during the period. Finally, Value Partners Investments Inc. grew its position in Deere & Company by 71.4% during the third quarter. Value Partners Investments Inc. now owns 1,174 shares of the industrial products company’s stock valued at $490,000 after acquiring an additional 489 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Down 2.0 %

Deere & Company stock opened at $467.07 on Tuesday. Deere & Company has a 52 week low of $340.20 and a 52 week high of $485.84. The stock has a market cap of $127.21 billion, a price-to-earnings ratio of 18.24, a PEG ratio of 2.94 and a beta of 0.98. The company’s 50-day moving average price is $444.68 and its two-hundred day moving average price is $410.23. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating the consensus estimate of $3.89 by $0.66. The company had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The business’s revenue for the quarter was down 32.8% on a year-over-year basis. During the same quarter last year, the firm posted $8.26 EPS. On average, analysts expect that Deere & Company will post 19.38 EPS for the current fiscal year.

Deere & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Shareholders 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 positive change from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 dividend on an annualized basis and a yield of 1.39%. Deere & Company’s dividend payout ratio is currently 25.31%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on DE shares. Morgan Stanley raised their price target on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a 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 report on Friday, December 6th. UBS Group lifted their target price on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. increased their price objective on shares of Deere & Company from $450.00 to $470.00 and gave the company a “neutral” rating in a research note on Wednesday, January 15th. Finally, Barclays lifted 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. Eleven research 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 presently has an average rating of “Hold” and a consensus price target of $444.50.

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.