Mokosak Advisory Group LLC Has $423,000 Stake in Deere & Company (NYSE:DE)

Mokosak Advisory Group LLC trimmed its stake in Deere & Company (NYSE:DE) by 5.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,057 shares of the industrial products company’s stock after selling 64 shares during the quarter. Deere & Company comprises 0.2% of Mokosak Advisory Group LLC’s portfolio, making the stock its 18th largest holding. Mokosak Advisory Group LLC’s holdings in Deere & Company were worth $423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in DE. Moneta Group Investment Advisors LLC lifted its position in shares of Deere & Company by 104,373.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,219,883 shares of the industrial products company’s stock worth $1,380,557,000 after purchasing an additional 3,216,801 shares in the last quarter. Norges Bank purchased a new stake in shares of Deere & Company in the fourth quarter worth approximately $1,326,177,000. International Assets Investment Management LLC lifted its position in shares of Deere & Company by 46,241.1% in the fourth quarter. International Assets Investment Management LLC now owns 840,627 shares of the industrial products company’s stock worth $336,142,000 after purchasing an additional 838,813 shares in the last quarter. Morgan Stanley increased its holdings in Deere & Company by 13.8% in the fourth quarter. Morgan Stanley now owns 4,576,183 shares of the industrial products company’s stock worth $1,962,085,000 after buying an additional 554,133 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in Deere & Company by 561.5% in the first quarter. First Trust Advisors LP now owns 531,339 shares of the industrial products company’s stock worth $219,379,000 after buying an additional 451,019 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

Shares of DE traded up $3.99 during mid-day trading on Thursday, hitting $400.87. The company’s stock had a trading volume of 1,562,911 shares, compared to its average volume of 1,501,047. Deere & Company has a one year low of $345.55 and a one year high of $450.00. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.81 and a current ratio of 2.05. The firm has a market capitalization of $111.59 billion, a PE ratio of 11.68, a price-to-earnings-growth ratio of 1.48 and a beta of 1.04. The stock’s 50-day moving average is $385.17 and its two-hundred day moving average is $382.66.

Deere & Company (NYSE:DE) last posted its quarterly earnings data 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 return on equity of 44.60% and a net margin of 16.38%. The company had revenue of $10.49 billion during the quarter, compared to analysts’ expectations of $10.30 billion. During the same period in the prior year, the business earned $6.55 earnings per share. Deere & Company’s revenue for the quarter was down 8.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Deere & Company will post 27.39 EPS for the current year.

Deere & Company Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on DE shares. Stifel Nicolaus dropped their price objective on Deere & Company from $435.00 to $425.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Truist Financial started coverage on Deere & Company in a report on Thursday, March 14th. They issued a “buy” rating and a $494.00 price objective on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on Deere & Company from $425.00 to $401.00 and set a “hold” rating on the stock in a report on Friday, February 16th. Melius downgraded Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Finally, Melius Research restated a “hold” rating on shares of Deere & Company in a 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 company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $433.28.

Deere & Company Profile

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.