Westwood Holdings Group Inc. Reduces Stock Position in Deere & Company (NYSE:DE)

Westwood Holdings Group Inc. lowered its stake in Deere & Company (NYSE:DE - Free Report) by 4.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,910 shares of the industrial products company's stock after selling 1,354 shares during the quarter. Westwood Holdings Group Inc.'s holdings in Deere & Company were worth $14,508,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the company. Hughes Financial Services LLC bought a new stake in shares of Deere & Company in the 1st quarter valued at about $29,000. Cornerstone Planning Group LLC increased its stake in shares of Deere & Company by 116.1% during the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock valued at $31,000 after buying an additional 36 shares during the period. Orion Capital Management LLC purchased a new stake in Deere & Company in the fourth quarter worth $34,000. Mascagni Wealth Management Inc. purchased a new position in Deere & Company during the 4th quarter valued at $39,000. Finally, Dogwood Wealth Management LLC bought a new stake in shares of Deere & Company during the 4th quarter valued at about $42,000. Hedge funds and other institutional investors own 68.58% of the company's stock.

Deere & Company Price Performance

Shares of DE opened at $509.86 on Thursday. The firm has a fifty day simple moving average of $512.29 and a two-hundred day simple moving average of $488.40. The firm has a market cap of $138.09 billion, a PE ratio of 24.67, a P/E/G ratio of 3.22 and a beta of 1.06. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76. Deere & Company has a 1-year low of $343.38 and a 1-year high of $533.78.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, topping the consensus estimate of $5.72 by $0.92. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The company had revenue of $11.17 billion during the quarter, compared to analyst estimates of $10.80 billion. During the same quarter in the previous year, the company posted $8.53 earnings per share. Deere & Company's revenue was down 17.9% compared to the same quarter last year. On average, equities analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Monday, June 30th. Deere & Company's dividend payout ratio is 31.35%.

Analysts Set New Price Targets

DE has been the subject of a number of research analyst reports. Melius Research upgraded Deere & Company from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 6th. Truist Financial boosted their target price 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. Morgan Stanley increased their price target on shares of Deere & Company from $450.00 to $500.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 16th. Raymond James Financial boosted their price objective on shares of Deere & Company from $530.00 to $560.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Finally, Robert W. Baird raised their target price on shares of Deere & Company from $501.00 to $514.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $515.50.

Deere & Company Profile

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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