Deere & Company (NYSE:DE) Stock Holdings Reduced by FourThought Financial Partners LLC

FourThought Financial Partners LLC cut its position in shares of Deere & Company (NYSE:DE) by 9.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,526 shares of the industrial products company’s stock after selling 151 shares during the period. FourThought Financial Partners LLC’s holdings in Deere & Company were worth $610,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Briaud Financial Planning Inc acquired a new stake in Deere & Company in the third quarter valued at approximately $25,000. ZRC Wealth Management LLC bought a new stake in Deere & Company in the fourth quarter worth $28,000. Rakuten Securities Inc. acquired a new position in Deere & Company during the fourth quarter worth $28,000. Naples Money Management LLC bought a new position in Deere & Company during the fourth quarter valued at about $29,000. Finally, Bfsg LLC bought a new position in Deere & Company during the fourth quarter valued at about $30,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Performance

Deere & Company stock traded up $5.00 on Friday, hitting $400.96. The company’s stock had a trading volume of 1,626,960 shares, compared to its average volume of 1,337,641. Deere & Company has a one year low of $345.55 and a one year high of $450.00. The firm has a market cap of $111.61 billion, a P/E ratio of 11.68, a price-to-earnings-growth ratio of 1.51 and a beta of 1.04. The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 1.81. The company has a fifty day moving average price of $391.45 and a 200-day moving average price of $383.87.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, beating the consensus estimate of $5.19 by $1.04. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. 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 previous year, the business earned $6.55 EPS. The firm’s revenue was down 8.0% on a year-over-year basis. On average, equities analysts anticipate that Deere & Company will post 27.37 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th will be issued a $1.47 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.47%. Deere & Company’s payout ratio is presently 17.12%.

Analyst Ratings Changes

A number of brokerages have recently commented on DE. Citigroup lowered their price objective on Deere & Company from $450.00 to $435.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Stifel Nicolaus reduced their price objective on shares of Deere & Company from $435.00 to $425.00 and set a “buy” rating for the company in a research note on Friday, February 16th. Truist Financial began coverage on shares of Deere & Company in a report on Thursday, March 14th. They set a “buy” rating and a $494.00 price objective for the company. Evercore ISI lifted their target price on shares of Deere & Company from $381.00 to $387.00 and gave the stock an “in-line” rating in a report on Tuesday, February 20th. Finally, JPMorgan Chase & Co. upped their price target on shares of Deere & Company from $415.00 to $425.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the 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.