DAVENPORT & Co LLC Grows Position in Deere & Company (NYSE:DE)

DAVENPORT & Co LLC raised its holdings in shares of Deere & Company (NYSE:DEFree Report) by 1.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 139,088 shares of the industrial products company’s stock after purchasing an additional 2,229 shares during the quarter. DAVENPORT & Co LLC’s holdings in Deere & Company were worth $55,592,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Retirement Group LLC increased its position in shares of Deere & Company by 264.7% in the second quarter. Retirement Group LLC now owns 62 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 45 shares during the last quarter. Briaud Financial Planning Inc bought a new position in shares of Deere & Company in the third quarter worth approximately $25,000. ZRC Wealth Management LLC bought a new position in shares of Deere & Company in the fourth quarter worth approximately $28,000. Worth Asset Management LLC bought a new position in shares of Deere & Company in the first quarter worth approximately $28,000. Finally, Milestone Investment Advisors LLC bought a new position in shares of Deere & Company in the third quarter worth approximately $37,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Down 0.0 %

Deere & Company stock traded down $0.19 on Tuesday, hitting $403.95. 1,164,485 shares of the stock traded hands, compared to its average volume of 1,522,639. The company has a current ratio of 2.05, a quick ratio of 1.81 and a debt-to-equity ratio of 1.81. The firm has a market cap of $112.44 billion, a P/E ratio of 11.76, a price-to-earnings-growth ratio of 1.54 and a beta of 1.04. The business’s fifty day simple moving average is $381.98 and its 200 day simple moving average is $381.45. Deere & Company has a 1 year low of $345.55 and a 1 year high of $450.00.

Deere & Company (NYSE:DEGet Free Report) last announced its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, beating the consensus estimate of $5.19 by $1.04. The business had revenue of $10.49 billion during the quarter, compared to analyst estimates of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The company’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter last year, the firm posted $6.55 earnings per share. As a group, sell-side analysts forecast that Deere & Company will post 27.41 earnings per share for the current year.

Deere & Company Dividend Announcement

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 given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 1.46%. The ex-dividend date is Wednesday, March 27th. Deere & Company’s dividend payout ratio is currently 17.12%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on DE. Wells Fargo & Company decreased their price objective on shares of Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a research report on Friday, February 16th. Stifel Nicolaus decreased their price objective on shares of Deere & Company from $435.00 to $425.00 and set a “buy” rating on the stock in a research report on Friday, February 16th. Truist Financial initiated coverage on shares of Deere & Company in a research report on Thursday, March 14th. They issued a “buy” rating and a $494.00 price objective on the stock. Melius Research reiterated a “hold” rating on shares of Deere & Company in a research report on Monday, January 8th. Finally, Melius cut shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $431.28.

Check Out Our Latest Report on Deere & Company

About Deere & Company

(Free Report)

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.

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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