Princeton Global Asset Management LLC Sells 2,829 Shares of Deere & Company (NYSE:DE)

Princeton Global Asset Management LLC reduced its stake in Deere & Company (NYSE:DE) by 95.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 141 shares of the industrial products company’s stock after selling 2,829 shares during the quarter. Princeton Global Asset Management LLC’s holdings in Deere & Company were worth $60,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in DE. Livelsberger Financial Advisory purchased a new position in shares of Deere & Company during the third quarter worth approximately $32,000. Modus Advisors LLC acquired a new stake in Deere & Company in the fourth quarter valued at approximately $32,000. Synergy Asset Management LLC acquired a new stake in shares of Deere & Company during the fourth quarter worth $35,000. Continuum Advisory LLC lifted its stake in shares of Deere & Company by 155.8% during the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after buying an additional 67 shares during the period. Finally, Darwin Wealth Management LLC acquired a new stake in shares of Deere & Company during the third quarter worth $47,000. 68.58% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

DE has been the topic of several research analyst reports. Morgan Stanley lifted their target price on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Barclays upped their target price on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Citigroup decreased their price target on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Jefferies Financial Group downgraded shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price for the company. in a report on Friday, December 6th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Deere & Company from $450.00 to $470.00 and gave the company a “neutral” rating in a research note on Wednesday, January 15th. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $444.50.

Deere & Company Price Performance

Deere & Company stock opened at $467.07 on Tuesday. Deere & Company has a 12 month low of $340.20 and a 12 month high of $485.84. The stock’s 50 day moving average is $444.68 and its 200-day moving average is $410.23. 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 company has a market capitalization of $127.21 billion, a price-to-earnings ratio of 18.24, a PEG ratio of 2.94 and a beta of 0.98.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.89 by $0.66. The business had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The firm’s quarterly revenue was down 32.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $8.26 earnings per share. Equities research analysts expect that Deere & Company will post 19.38 EPS for the current year.

Deere & Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.39%. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date is Tuesday, December 31st. Deere & Company’s dividend payout ratio is presently 25.31%.

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.