Neo Ivy Capital Management decreased its stake in Deere & Company (NYSE:DE - Free Report) by 78.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 849 shares of the industrial products company's stock after selling 3,183 shares during the quarter. Neo Ivy Capital Management's holdings in Deere & Company were worth $359,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of DE. Price T Rowe Associates Inc. MD raised its holdings in Deere & Company by 19.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company's stock worth $2,792,082,000 after purchasing an additional 1,095,736 shares during the period. Capital World Investors raised its holdings in Deere & Company by 2.7% in the 4th quarter. Capital World Investors now owns 6,058,259 shares of the industrial products company's stock worth $2,566,884,000 after purchasing an additional 157,224 shares during the period. FMR LLC raised its holdings in Deere & Company by 22.9% in the 4th quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock worth $2,364,843,000 after purchasing an additional 1,039,395 shares during the period. Geode Capital Management LLC raised its holdings in shares of Deere & Company by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 5,305,571 shares of the industrial products company's stock valued at $2,247,216,000 after acquiring an additional 97,203 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Deere & Company during the fourth quarter valued at approximately $1,244,094,000. Hedge funds and other institutional investors own 68.58% of the company's stock.
Deere & Company Stock Performance
Shares of NYSE:DE traded down $0.86 during trading on Tuesday, reaching $509.20. The company had a trading volume of 1,103,513 shares, compared to its average volume of 1,408,677. The firm has a market capitalization of $138.20 billion, a price-to-earnings ratio of 22.57, a price-to-earnings-growth ratio of 2.14 and a beta of 1.08. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. The stock's fifty day moving average price is $473.20 and its 200 day moving average price is $459.86. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $533.78.
Deere & Company (NYSE:DE - Get Free Report) last released its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.72 by $0.92. The business had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. The company's revenue for the quarter was down 17.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $8.53 earnings per share. As a group, equities research analysts predict that Deere & Company will post 19.32 EPS for the current year.
Deere & Company Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, May 8th. Stockholders of record on Monday, March 31st were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend was Monday, March 31st. Deere & Company's payout ratio is currently 31.35%.
Analyst Ratings Changes
Several equities research analysts recently commented on the company. Barclays increased their price target on Deere & Company from $475.00 to $530.00 and gave the company an "overweight" rating in a report on Friday, May 16th. UBS Group cut their target price on Deere & Company from $462.00 to $440.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Wall Street Zen raised Deere & Company from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. DA Davidson reissued a "buy" rating and set a $542.00 target price on shares of Deere & Company in a research note on Friday, May 16th. Finally, Truist Financial raised their target price on Deere & Company from $546.00 to $619.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Thirteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Deere & Company currently has a consensus rating of "Hold" and an average price target of $516.75.
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Deere & Company 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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