Money Concepts Capital Corp Lowers Stock Holdings in Deere & Company (NYSE:DE)

Money Concepts Capital Corp lessened its holdings in shares of Deere & Company (NYSE:DE) by 3.2% during the 4th quarter, Holdings Channel reports. The firm owned 6,240 shares of the industrial products company’s stock after selling 207 shares during the period. Money Concepts Capital Corp’s holdings in Deere & Company were worth $2,644,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Modus Advisors LLC acquired a new position in shares of Deere & Company in the fourth quarter worth $32,000. Livelsberger Financial Advisory acquired a new position in Deere & Company during the 3rd quarter worth $32,000. Synergy Asset Management LLC acquired a new position in Deere & Company during the 4th quarter worth $35,000. Continuum Advisory LLC increased its holdings in Deere & Company by 155.8% during the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 67 shares during the period. Finally, Darwin Wealth Management LLC purchased a new position in shares of Deere & Company in the 3rd quarter valued at about $47,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Up 1.2 %

DE opened at $472.72 on Wednesday. Deere & Company has a 52 week low of $340.20 and a 52 week high of $485.84. The business has a 50 day moving average price of $445.00 and a two-hundred day moving average price of $411.50. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. The company has a market cap of $128.75 billion, a PE ratio of 18.47, a P/E/G 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 for the quarter, topping the consensus estimate 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 return on equity of 31.32% and a net margin of 13.73%. The company’s revenue for the quarter was down 32.8% on a year-over-year basis. During the same period last year, the company earned $8.26 earnings per share. As a group, research analysts anticipate 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 dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.37%. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend is Tuesday, December 31st. Deere & Company’s payout ratio is 25.31%.

Analysts Set New Price Targets

DE has been the topic of a number of recent research reports. 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. UBS Group raised their price objective on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Oppenheimer increased their target price on Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Truist Financial lifted their price target on Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, JPMorgan Chase & Co. increased their price objective on Deere & Company from $450.00 to $470.00 and gave the company a “neutral” rating in a report on Wednesday, January 15th. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $444.50.

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.