Opinicus Capital Inc. Sells 23 Shares of Deere & Company (NYSE:DE)

Opinicus Capital Inc. lowered its position in shares of Deere & Company (NYSE:DE) by 0.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 3,682 shares of the industrial products company’s stock after selling 23 shares during the quarter. Deere & Company comprises approximately 1.3% of Opinicus Capital Inc.’s investment portfolio, making the stock its 21st largest position. Opinicus Capital Inc.’s holdings in Deere & Company were worth $1,560,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Livelsberger Financial Advisory purchased a new stake in shares of Deere & Company in the 3rd quarter worth $32,000. Modus Advisors LLC bought a new stake in Deere & Company during the fourth quarter valued at about $32,000. YANKCOM Partnership bought a new position in shares of Deere & Company in the fourth quarter worth about $34,000. Synergy Asset Management LLC purchased a new position in shares of Deere & Company during the 4th quarter valued at about $35,000. Finally, Continuum Advisory LLC grew its stake in shares of Deere & Company by 155.8% during the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 67 shares during the period. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on DE shares. Truist Financial raised their price objective on shares of Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. upped their price objective on Deere & Company from $450.00 to $470.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 15th. Citigroup cut their target price on Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Oppenheimer boosted their price target on Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Finally, Barclays increased their price objective on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. 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, the stock has a consensus rating of “Hold” and a consensus price target of $444.50.

Deere & Company Stock Up 0.1 %

Shares of DE opened at $465.63 on Friday. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89. Deere & Company has a 12-month low of $340.20 and a 12-month high of $485.84. The company’s 50-day moving average price is $445.01 and its 200 day moving average price is $412.26. The firm has a market cap of $126.82 billion, a P/E ratio of 18.19, a price-to-earnings-growth ratio of 2.94 and a beta of 0.98.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share 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 analysts’ expectations of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. Deere & Company’s quarterly revenue was down 32.8% compared to the same quarter last year. During the same period in the previous year, the company earned $8.26 earnings per share. On average, sell-side analysts forecast that Deere & Company will post 19.38 earnings per share for the current year.

Deere & Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Investors 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 yield of 1.39%. The ex-dividend date is Tuesday, December 31st. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio (DPR) is currently 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.