GC Wealth Management RIA LLC Sells 2,369 Shares of Deere & Company $DE

Key Points

• GC Wealth Management RIA LLC reduced its stake in Deere by 44.8%, selling 2,369 shares and holding 2,918 shares worth about $1.36 million at quarter end.
• Deere beat expectations for the quarter with EPS of $2.42 (vs. $1.90 est.) and revenue of $9.61B (vs. $7.50B), a 17.5% year‑over‑year revenue increase.
• The company declared a quarterly dividend of $1.62 per share (annualized $6.48, yield 1.2%), while analysts have raised price targets, leaving a consensus target of about $655.45 ("Moderate Buy").

GC Wealth Management RIA LLC decreased its holdings in Deere & Company (NYSE:DE - Free Report) by 44.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,918 shares of the industrial products company's stock after selling 2,369 shares during the quarter. GC Wealth Management RIA LLC's holdings in Deere & Company were worth $1,359,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. DMKC Advisory Services LLC increased its holdings in Deere & Company by 5.5% during the 4th quarter. DMKC Advisory Services LLC now owns 13,946 shares of the industrial products company's stock worth $6,493,000 after purchasing an additional 729 shares in the last quarter. Simplicity Wealth LLC lifted its holdings in shares of Deere & Company by 17.9% in the fourth quarter. Simplicity Wealth LLC now owns 1,887 shares of the industrial products company's stock valued at $878,000 after purchasing an additional 286 shares in the last quarter. Ellenbecker Investment Group purchased a new position in shares of Deere & Company during the fourth quarter valued at approximately $214,000. Interchange Capital Partners LLC boosted its position in shares of Deere & Company by 32.5% during the fourth quarter. Interchange Capital Partners LLC now owns 782 shares of the industrial products company's stock valued at $364,000 after buying an additional 192 shares during the last quarter. Finally, AMG National Trust Bank grew its holdings in Deere & Company by 1.3% during the fourth quarter. AMG National Trust Bank now owns 3,044 shares of the industrial products company's stock worth $1,417,000 after buying an additional 40 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company's stock.

Deere & Company Stock Down 0.7%

DE stock opened at $559.85 on Thursday. The stock has a market cap of $151.22 billion, a P/E ratio of 31.56, a P/E/G ratio of 1.98 and a beta of 0.98. The company has a current ratio of 2.21, a quick ratio of 1.96 and a debt-to-equity ratio of 1.59. The stock's fifty day simple moving average is $591.57 and its two-hundred day simple moving average is $528.40. Deere & Company has a 1-year low of $433.00 and a 1-year high of $674.19.

Deere & Company (NYSE:DE - Get Free Report) last announced its earnings results on Thursday, February 19th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.52. The firm had revenue of $9.61 billion during the quarter, compared to analyst estimates of $7.50 billion. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.The business's revenue was up 17.5% compared to the same quarter last year. During the same period last year, the firm posted $3.19 EPS. Analysts expect that Deere & Company will post 18.01 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Tuesday, March 31st will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Tuesday, March 31st. Deere & Company's dividend payout ratio (DPR) is 36.53%.

Analyst Upgrades and Downgrades

DE has been the subject of a number of analyst reports. Argus increased their price target on Deere & Company from $540.00 to $700.00 and gave the company a "buy" rating in a research report on Tuesday, March 3rd. Wall Street Zen raised shares of Deere & Company from a "sell" rating to a "hold" rating in a report on Saturday, February 7th. UBS Group increased their target price on shares of Deere & Company from $535.00 to $775.00 and gave the company a "buy" rating in a report on Friday, February 20th. Wolfe Research raised their price target on shares of Deere & Company from $550.00 to $660.00 and gave the company an "outperform" rating in a research report on Tuesday, March 31st. Finally, Morgan Stanley boosted their price target on shares of Deere & Company from $560.00 to $730.00 and gave the stock an "overweight" rating in a report on Monday, February 23rd. Sixteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $655.45.

About Deere & Company

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company's principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.

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