Traynor Capital Management Inc. Sells 1,492 Shares of Deere & Company (NYSE:DE)

Traynor Capital Management Inc. trimmed its position in shares of Deere & Company (NYSE:DE) by 7.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,477 shares of the industrial products company’s stock after selling 1,492 shares during the period. Traynor Capital Management Inc.’s holdings in Deere & Company were worth $7,829,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in shares of Deere & Company by 32.0% in the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock worth $3,068,404,000 after buying an additional 1,782,984 shares during the period. Geode Capital Management LLC grew its position in Deere & Company by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company’s stock valued at $2,168,737,000 after acquiring an additional 31,459 shares during the last quarter. FMR LLC increased its stake in Deere & Company by 27.8% in the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock worth $1,895,518,000 after purchasing an additional 988,380 shares during the period. Legal & General Group Plc lifted its position in shares of Deere & Company by 2.7% during the second quarter. Legal & General Group Plc now owns 2,254,266 shares of the industrial products company’s stock worth $842,259,000 after purchasing an additional 60,255 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its stake in shares of Deere & Company by 8.6% during the third quarter. Fisher Asset Management LLC now owns 1,994,657 shares of the industrial products company’s stock valued at $832,431,000 after purchasing an additional 158,732 shares during the period. Institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on DE. Morgan Stanley raised 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. UBS Group lifted their price target 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. Oppenheimer raised their price objective on Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Truist Financial lifted their price objective on Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Finally, Jefferies Financial Group downgraded shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a research report on Friday, December 6th. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Deere & Company presently has a consensus rating of “Hold” and an average target price of $442.83.

Deere & Company Trading Down 0.8 %

Shares of NYSE:DE opened at $459.55 on Thursday. The business’s 50 day moving average price is $433.94 and its 200-day moving average price is $403.91. Deere & Company has a 1 year low of $340.20 and a 1 year high of $469.39. The firm has a market capitalization of $125.16 billion, a price-to-earnings ratio of 17.95, a price-to-earnings-growth ratio of 2.86 and a beta of 0.98. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, topping analysts’ consensus estimates of $3.89 by $0.66. The company had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The firm’s revenue for the quarter was down 32.8% on a year-over-year basis. During the same period in the prior year, the business posted $8.26 earnings per share. On average, equities research analysts forecast that Deere & Company will post 19.34 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be issued a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.41%. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio (DPR) is presently 25.31%.

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.