Castle Wealth Management LLC Has $511,000 Stock Holdings in Deere & Company (NYSE:DE)

Castle Wealth Management LLC lessened its holdings in shares of Deere & Company (NYSE:DE) by 2.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,272 shares of the industrial products company’s stock after selling 34 shares during the quarter. Castle Wealth Management LLC’s holdings in Deere & Company were worth $511,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. RB Capital Management LLC increased its stake in Deere & Company by 5.2% during the first quarter. RB Capital Management LLC now owns 1,637 shares of the industrial products company’s stock valued at $680,000 after acquiring an additional 81 shares during the period. Bornite Capital Management LP bought a new position in Deere & Company during the first quarter valued at about $14,541,000. Retirement Income Solutions Inc bought a new position in Deere & Company during the first quarter valued at about $229,000. Sequoia Financial Advisors LLC increased its stake in Deere & Company by 27.1% during the first quarter. Sequoia Financial Advisors LLC now owns 2,442 shares of the industrial products company’s stock valued at $1,014,000 after acquiring an additional 521 shares during the period. Finally, Baird Financial Group Inc. increased its stake in Deere & Company by 32.4% during the first quarter. Baird Financial Group Inc. now owns 114,322 shares of the industrial products company’s stock valued at $47,496,000 after acquiring an additional 27,985 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Price Performance

NYSE DE traded down $0.21 during trading hours on Friday, reaching $400.39. 1,125,178 shares of the company’s stock were exchanged, compared to its average volume of 1,496,266. The stock has a market cap of $111.45 billion, a PE ratio of 11.66, a price-to-earnings-growth ratio of 1.49 and a beta of 1.04. Deere & Company has a one year low of $345.55 and a one year high of $450.00. The firm has a fifty day moving average of $385.86 and a 200-day moving average of $382.97. The company has a current ratio of 2.05, a quick ratio of 1.81 and a debt-to-equity ratio of 1.81.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, topping analysts’ consensus estimates of $5.19 by $1.04. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The business had revenue of $10.49 billion for the quarter, compared to analyst estimates of $10.30 billion. During the same period in the prior year, the company earned $6.55 EPS. Deere & Company’s revenue for the quarter was down 8.0% on a year-over-year basis. On average, equities research analysts predict that Deere & Company will post 27.39 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th will be issued a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend is Wednesday, March 27th. Deere & Company’s dividend payout ratio is 17.12%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on Deere & Company from $415.00 to $425.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Truist Financial started coverage on Deere & Company in a research note on Thursday, March 14th. They issued a “buy” rating and a $494.00 price objective on the stock. Stifel Nicolaus lowered their price objective on Deere & Company from $435.00 to $425.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. Evercore ISI upped their price objective on Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a research note on Tuesday, February 20th. Finally, Morgan Stanley started coverage on Deere & Company in a research note on Monday, January 8th. They issued an “overweight” rating and a $430.00 price objective on the stock. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Deere & Company presently has a consensus rating of “Hold” and a consensus target price of $433.28.

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.