Transform Wealth LLC Trims Stake in Deere & Company (NYSE:DE)

Transform Wealth LLC lessened its holdings in Deere & Company (NYSE:DE) by 22.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,192 shares of the industrial products company’s stock after selling 352 shares during the period. Transform Wealth LLC’s holdings in Deere & Company were worth $507,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. DLK Investment Management LLC grew its position in shares of Deere & Company by 0.3% during the fourth quarter. DLK Investment Management LLC now owns 8,212 shares of the industrial products company’s stock worth $3,479,000 after buying an additional 24 shares in the last quarter. Mattern Wealth Management LLC grew its holdings in Deere & Company by 1.3% during the 3rd quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock worth $786,000 after acquiring an additional 25 shares in the last quarter. Carret Asset Management LLC increased its position in shares of Deere & Company by 0.3% in the 3rd quarter. Carret Asset Management LLC now owns 8,148 shares of the industrial products company’s stock valued at $3,401,000 after purchasing an additional 25 shares during the last quarter. Round Rock Advisors LLC raised its holdings in shares of Deere & Company by 2.0% in the 3rd quarter. Round Rock Advisors LLC now owns 1,252 shares of the industrial products company’s stock valued at $522,000 after purchasing an additional 25 shares in the last quarter. Finally, Douglas Lane & Associates LLC lifted its position in shares of Deere & Company by 4.7% during the 4th quarter. Douglas Lane & Associates LLC now owns 557 shares of the industrial products company’s stock worth $236,000 after purchasing an additional 25 shares during the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

Deere & Company stock opened at $463.06 on Wednesday. Deere & Company has a 52 week low of $340.20 and a 52 week high of $469.39. The stock has a fifty day moving average price of $432.55 and a 200 day moving average price of $403.19. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89. The firm has a market capitalization of $126.11 billion, a P/E ratio of 18.09, a PEG ratio of 2.81 and a beta of 0.98.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.89 by $0.66. The firm had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. Deere & Company’s revenue was down 32.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $8.26 earnings per share. Equities research analysts anticipate that Deere & Company will post 19.34 earnings per share for the current year.

Deere & Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be given a $1.62 dividend. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a dividend yield of 1.40%. The ex-dividend date is Tuesday, December 31st. Deere & Company’s dividend payout ratio (DPR) is 25.31%.

Analysts Set New Price Targets

A number of research firms have recently commented on DE. Jefferies Financial Group downgraded Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective on the stock. in a report on Friday, December 6th. Truist Financial raised their price objective on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. upped their target price on shares of Deere & Company from $450.00 to $470.00 and gave the company a “neutral” rating in a report on Wednesday, January 15th. Morgan Stanley lifted their price target on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Finally, UBS Group upped their price objective on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $442.83.

Deere & Company 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.