49 Wealth Management LLC trimmed its holdings in Deere & Company (NYSE:DE - Free Report) by 77.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 489 shares of the industrial products company's stock after selling 1,724 shares during the quarter. 49 Wealth Management LLC's holdings in Deere & Company were worth $207,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Pineridge Advisors LLC boosted its holdings in Deere & Company by 60.5% in the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 26 shares during the last quarter. YANKCOM Partnership purchased a new stake in Deere & Company in the fourth quarter valued at $34,000. Orion Capital Management LLC purchased a new stake in Deere & Company in the fourth quarter valued at $34,000. Synergy Asset Management LLC purchased a new stake in Deere & Company in the fourth quarter valued at $35,000. Finally, Sierra Ocean LLC purchased a new stake in Deere & Company in the fourth quarter valued at $44,000. 68.58% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on the stock. Truist Financial upped their price target on shares of Deere & Company from $546.00 to $619.00 and gave the company a "buy" rating in a report on Friday, May 16th. BMO Capital Markets reaffirmed a "market perform" rating and issued a $460.00 price target (up from $425.00) on shares of Deere & Company in a report on Wednesday. Oppenheimer increased their target price on shares of Deere & Company from $513.00 to $555.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. The Goldman Sachs Group reissued a "buy" rating on shares of Deere & Company in a research note on Thursday, May 15th. Finally, JPMorgan Chase & Co. increased their target price on shares of Deere & Company from $490.00 to $540.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Thirteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $516.75.
Get Our Latest Research Report on Deere & Company
Deere & Company Trading Up 0.2%
Shares of Deere & Company stock opened at $515.56 on Friday. The firm has a market capitalization of $139.93 billion, a PE ratio of 22.85, a P/E/G ratio of 2.14 and a beta of 1.08. Deere & Company has a twelve month low of $340.20 and a twelve month high of $533.78. The firm's 50-day moving average price is $472.03 and its 200 day moving average price is $457.60. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94.
Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, beating analysts' consensus estimates of $5.72 by $0.92. The firm had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. Deere & Company's quarterly revenue was down 17.9% compared to the same quarter last year. During the same period last year, the company posted $8.53 EPS. On average, sell-side analysts predict that Deere & Company will post 19.32 EPS for the current fiscal year.
Deere & Company Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, May 8th. Investors of record on Monday, March 31st were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date was Monday, March 31st. Deere & Company's dividend payout ratio is presently 31.35%.
Deere & Company Profile
(
Free Report)
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.
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