Tobam Cuts Stake in Deere & Company (NYSE:DE)

Tobam trimmed its stake in Deere & Company (NYSE:DE) by 44.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 297 shares of the industrial products company’s stock after selling 234 shares during the quarter. Tobam’s holdings in Deere & Company were worth $126,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of DE. Robertson Stephens Wealth Management LLC increased its holdings in shares of Deere & Company by 2.2% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company’s stock worth $426,000 after buying an additional 22 shares during the last quarter. DLK Investment Management LLC lifted its holdings in shares of Deere & Company by 0.3% during the 4th quarter. DLK Investment Management LLC now owns 8,212 shares of the industrial products company’s stock valued at $3,479,000 after acquiring an additional 24 shares in the last quarter. Mattern Wealth Management LLC boosted its position 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 purchasing an additional 25 shares during the period. Carret Asset Management LLC increased its holdings in 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 in the last quarter. Finally, Round Rock Advisors LLC raised its position in Deere & Company by 2.0% in the third 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 during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

DE has been the subject of a number of recent research reports. JPMorgan Chase & Co. increased their target price on Deere & Company from $450.00 to $470.00 and gave the company a “neutral” rating in a research note on Wednesday, January 15th. Barclays upped their target price on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Citigroup dropped 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. UBS Group increased their target price on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, Truist Financial boosted their price target on Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $444.50.

Deere & Company Stock Performance

Shares of NYSE DE opened at $465.63 on Friday. Deere & Company has a 1 year low of $340.20 and a 1 year high of $485.84. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. The stock has a fifty day moving average price of $445.01 and a two-hundred day moving average price of $412.26. The firm has a market cap of $126.82 billion, a P/E ratio of 18.19, a PEG ratio of 2.94 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, topping analysts’ consensus estimates of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The firm had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. During the same period in the previous year, the company earned $8.26 earnings per share. Deere & Company’s revenue was down 32.8% compared to the same quarter last year. Research analysts forecast that Deere & Company will post 19.38 EPS for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a 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 (DPR) 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.