Resurgent Financial Advisors LLC Sells 201 Shares of Deere & Company (NYSE:DE)

Resurgent Financial Advisors LLC trimmed its position in Deere & Company (NYSE:DE) by 13.8% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 1,256 shares of the industrial products company’s stock after selling 201 shares during the period. Resurgent Financial Advisors LLC’s holdings in Deere & Company were worth $524,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of DE. Fairscale Capital LLC bought a new position in shares of Deere & Company in the 2nd quarter worth $26,000. Livelsberger Financial Advisory bought a new position in shares of Deere & Company in the 3rd quarter worth $32,000. Centennial Bank AR boosted its position in shares of Deere & Company by 420.0% in the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 84 shares during the last quarter. Briaud Financial Planning Inc boosted its position in shares of Deere & Company by 73.5% in the 2nd quarter. Briaud Financial Planning Inc now owns 118 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 50 shares during the last quarter. Finally, Darwin Wealth Management LLC bought a new position in Deere & Company during the third quarter worth about $47,000. 68.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

DE has been the topic of several recent analyst reports. Oppenheimer lifted their target price 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 target price on Deere & Company from $496.00 to $538.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. lifted their target price on Deere & Company from $420.00 to $450.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Bank of America lifted their target price on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Finally, Evercore ISI lifted their price target on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research note on Monday, August 19th. Twelve equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Deere & Company currently has a consensus rating of “Hold” and a consensus target price of $436.41.

Deere & Company Trading Down 0.7 %

Deere & Company stock opened at $456.26 on Thursday. Deere & Company has a 52 week low of $340.20 and a 52 week high of $469.39. 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 market capitalization of $124.83 billion, a P/E ratio of 17.82, a PEG ratio of 1.98 and a beta of 0.96. The stock has a 50-day simple moving average of $416.28 and a 200 day simple moving average of $389.51.

Deere & Company (NYSE:DE) last issued its quarterly earnings data 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 company had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. During the same quarter in the previous year, the company posted $8.26 earnings per share. The business’s revenue was down 32.8% on a year-over-year basis. Analysts expect that Deere & Company will post 19.52 earnings per share for the current year.

Deere & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Stockholders 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 dividend yield of 1.42%. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s payout ratio is currently 22.97%.

About Deere & Company

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.