Pinnacle Wealth Planning Services Inc. lowered its stake in shares of Deere & Company (NYSE:DE - Free Report) by 40.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 920 shares of the industrial products company's stock after selling 633 shares during the quarter. Pinnacle Wealth Planning Services Inc.'s holdings in Deere & Company were worth $390,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in shares of Deere & Company in the 4th quarter valued at about $1,244,094,000. Castlekeep Investment Advisors LLC bought a new position in Deere & Company in the fourth quarter worth about $541,437,000. Price T Rowe Associates Inc. MD lifted its holdings in Deere & Company by 19.9% in the fourth 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 acquiring an additional 1,095,736 shares during the last quarter. FMR LLC boosted its stake in Deere & Company by 22.9% in the fourth quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock valued at $2,364,843,000 after acquiring an additional 1,039,395 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Deere & Company during the fourth quarter valued at approximately $296,232,000. Institutional investors own 68.58% of the company's stock.
Analyst Ratings Changes
DE has been the topic of several recent research reports. Truist Financial raised their price target on Deere & Company from $546.00 to $619.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Raymond James boosted their price target on shares of Deere & Company from $530.00 to $560.00 and gave the company an "outperform" rating in a report on Friday, May 16th. DA Davidson reaffirmed a "buy" rating and issued a $542.00 price objective on shares of Deere & Company in a report on Friday, May 16th. Baird R W downgraded shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 3rd. Finally, Bank of America upped their target price on shares of Deere & Company from $495.00 to $556.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Thirteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $516.75.
Get Our Latest Stock Analysis on Deere & Company
Deere & Company Price Performance
Deere & Company stock traded down $4.92 during mid-day trading on Thursday, hitting $503.07. The company's stock had a trading volume of 994,177 shares, compared to its average volume of 1,404,204. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. The stock has a market capitalization of $136.54 billion, a P/E ratio of 22.30, 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 stock's fifty day moving average price is $474.56 and its two-hundred day moving average price is $460.54.
Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, topping the consensus estimate of $5.72 by $0.92. The business had revenue of $11.17 billion during 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 was down 17.9% compared to the same quarter last year. During the same period last year, the company posted $8.53 EPS. Research analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.
Deere & Company Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Monday, June 30th will be issued a dividend of $1.62 per share. The ex-dividend date is Monday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.29%. Deere & Company's payout ratio is presently 31.35%.
About Deere & Company
(
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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