Spire Wealth Management Has $1.23 Million Position in Deere & Company (NYSE:DE)

Spire Wealth Management lowered its holdings in shares of Deere & Company (NYSE:DE) by 52.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,912 shares of the industrial products company’s stock after selling 3,233 shares during the quarter. Spire Wealth Management’s holdings in Deere & Company were worth $1,234,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of DE. Livelsberger Financial Advisory acquired a new stake in shares of Deere & Company in the 3rd quarter valued at $32,000. Modus Advisors LLC acquired a new stake in shares of Deere & Company in the 4th quarter valued at $32,000. Synergy Asset Management LLC acquired a new stake in shares of Deere & Company in the 4th quarter valued at $35,000. Continuum Advisory LLC boosted its stake in shares of Deere & Company by 155.8% in the 3rd 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 in the last quarter. Finally, Darwin Wealth Management LLC acquired a new stake in shares of Deere & Company in the 3rd quarter valued at $47,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of DE stock opened at $467.07 on Tuesday. 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 $127.21 billion, a PE ratio of 18.24, a price-to-earnings-growth ratio of 2.94 and a beta of 0.98. The stock has a 50-day moving average of $444.68 and a 200-day moving average of $410.23. Deere & Company has a one year low of $340.20 and a one year high of $485.84.

Deere & Company (NYSE:DE) last announced 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 company had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. During the same period in the prior year, the business posted $8.26 EPS. Deere & Company’s revenue was down 32.8% on a year-over-year basis. As a group, sell-side analysts expect that Deere & Company will post 19.38 earnings per share for the current year.

Deere & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be given a $1.62 dividend. 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 annualized dividend and a dividend yield of 1.39%. Deere & Company’s payout ratio is currently 25.31%.

Analyst Ratings Changes

Several brokerages recently issued reports on DE. Citigroup reduced their price target on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Jefferies Financial Group downgraded shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target on the stock. in a research report on Friday, December 6th. JPMorgan Chase & Co. upped their price target on shares of Deere & Company from $450.00 to $470.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 15th. UBS Group upped their price target on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Finally, Barclays upped their price target 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. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $444.50.

Deere & Company 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.