Tidal Investments LLC Sells 4,220 Shares of Deere & Company (NYSE:DE)

Tidal Investments LLC decreased its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 10.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,469 shares of the industrial products company's stock after selling 4,220 shares during the period. Tidal Investments LLC's holdings in Deere & Company were worth $14,605,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Pineridge Advisors LLC increased its position in Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company's stock worth $29,000 after purchasing an additional 26 shares during the last quarter. YANKCOM Partnership bought a new stake in shares of Deere & Company in the 4th quarter valued at approximately $34,000. Synergy Asset Management LLC acquired a new position in Deere & Company in the fourth quarter worth approximately $35,000. Sierra Ocean LLC bought a new position in Deere & Company during the fourth quarter valued at approximately $44,000. Finally, Halbert Hargrove Global Advisors LLC acquired a new stake in Deere & Company in the fourth quarter valued at approximately $48,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on DE shares. Citigroup upped their price target on Deere & Company from $450.00 to $550.00 and gave the stock a "neutral" rating in a research note on Monday. Argus set a $510.00 target price on Deere & Company in a research report on Friday, March 7th. Bank of America boosted 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. 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. Finally, UBS Group decreased 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. Thirteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $516.75.

Deere & Company Stock Up 0.2%

Shares of DE traded up $0.90 during trading hours on Thursday, reaching $515.56. The stock had a trading volume of 948,493 shares, compared to its average volume of 1,413,474. The firm has a 50-day simple moving average of $471.37 and a 200 day simple moving average of $456.81. Deere & Company has a 12 month low of $340.20 and a 12 month high of $533.78. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. The company has a market capitalization of $139.93 billion, a price-to-earnings ratio of 22.85, a P/E/G ratio of 2.14 and a beta of 1.08.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.72 by $0.92. The firm had revenue of $11.17 billion for the quarter, compared to the consensus estimate of $10.80 billion. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The business's revenue for the quarter was down 17.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $8.53 EPS. Equities research analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 8th. Shareholders of record on Monday, March 31st were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.26%. The ex-dividend date was Monday, March 31st. Deere & Company's dividend payout ratio (DPR) is presently 31.35%.

About Deere & Company

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.