Financial Advocates Investment Management Reduces Position in Deere & Company (NYSE:DE)

Financial Advocates Investment Management lowered its stake in Deere & Company (NYSE:DE) by 4.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,648 shares of the industrial products company’s stock after selling 178 shares during the period. Financial Advocates Investment Management’s holdings in Deere & Company were worth $1,546,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in DE. Atomi Financial Group Inc. increased its holdings in Deere & Company by 25.9% in the 3rd quarter. Atomi Financial Group Inc. now owns 1,697 shares of the industrial products company’s stock worth $708,000 after buying an additional 349 shares during the period. Strategic Wealth Partners Ltd. increased its stake in shares of Deere & Company by 4.1% in the third quarter. Strategic Wealth Partners Ltd. now owns 2,276 shares of the industrial products company’s stock worth $950,000 after acquiring an additional 89 shares during the period. First PREMIER Bank increased its stake in shares of Deere & Company by 240.0% in the third quarter. First PREMIER Bank now owns 340 shares of the industrial products company’s stock worth $142,000 after acquiring an additional 240 shares during the period. Daymark Wealth Partners LLC lifted its position in Deere & Company by 1.0% during the third quarter. Daymark Wealth Partners LLC now owns 7,140 shares of the industrial products company’s stock valued at $2,980,000 after purchasing an additional 68 shares during the period. Finally, Wedmont Private Capital lifted its position in Deere & Company by 3.1% during the third quarter. Wedmont Private Capital now owns 2,573 shares of the industrial products company’s stock valued at $1,045,000 after purchasing an additional 78 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Down 0.6 %

NYSE DE opened at $464.69 on Friday. The business has a fifty day moving average price of $445.03 and a 200 day moving average price of $411.89. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. The company has a market cap of $126.56 billion, a P/E ratio of 18.15, a P/E/G ratio of 2.94 and a beta of 0.98. Deere & Company has a one year low of $340.20 and a one year high of $485.84.

Deere & Company (NYSE:DE) last issued its 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. The business had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The company’s quarterly revenue was down 32.8% compared to the same quarter last year. During the same period in the prior year, the business earned $8.26 earnings per share. Research analysts anticipate that Deere & Company will post 19.38 EPS for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.39%. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend is Tuesday, December 31st. Deere & Company’s dividend payout ratio (DPR) is 25.31%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Morgan Stanley lifted their price objective on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. UBS Group lifted their price target on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Citigroup lowered their price objective on Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Barclays lifted their target price on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Finally, Truist Financial boosted their target price on shares of Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Deere & Company presently has a consensus 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.