Weybosset Research & Management LLC Sells 358 Shares of Deere & Company (NYSE:DE)

Weybosset Research & Management LLC trimmed its position in Deere & Company (NYSE:DE) by 0.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,819 shares of the industrial products company’s stock after selling 358 shares during the quarter. Deere & Company accounts for 7.2% of Weybosset Research & Management LLC’s holdings, making the stock its 3rd biggest holding. Weybosset Research & Management LLC’s holdings in Deere & Company were worth $21,108,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Acadian Asset Management LLC increased its holdings in Deere & Company by 324.4% in the 2nd quarter. Acadian Asset Management LLC now owns 8,909 shares of the industrial products company’s stock valued at $3,328,000 after buying an additional 6,810 shares during the period. LPL Financial LLC boosted its holdings in shares of Deere & Company by 5.7% in the 2nd quarter. LPL Financial LLC now owns 391,390 shares of the industrial products company’s stock valued at $146,235,000 after purchasing an additional 20,940 shares in the last quarter. Bahl & Gaynor Inc. increased its stake in shares of Deere & Company by 41.5% in the 2nd quarter. Bahl & Gaynor Inc. now owns 3,200 shares of the industrial products company’s stock valued at $1,196,000 after purchasing an additional 939 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Deere & Company by 9.7% during the 2nd quarter. American Century Companies Inc. now owns 250,298 shares of the industrial products company’s stock worth $93,519,000 after buying an additional 22,160 shares during the last quarter. Finally, Achmea Investment Management B.V. boosted its stake in Deere & Company by 15.6% in the second quarter. Achmea Investment Management B.V. now owns 14,218 shares of the industrial products company’s stock valued at $5,313,000 after buying an additional 1,921 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Price Performance

DE traded down $5.23 during trading on Friday, reaching $404.77. 220,326 shares of the company were exchanged, compared to its average volume of 875,292. The company’s 50-day moving average is $427.83 and its two-hundred day moving average is $399.49. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. Deere & Company has a 12-month low of $340.20 and a 12-month high of $469.39. The company has a market cap of $109.93 billion, a price-to-earnings ratio of 15.81, a P/E/G ratio of 1.91 and a beta of 0.98.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating the consensus estimate of $3.89 by $0.66. The firm had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The business’s quarterly revenue was down 32.8% on a year-over-year basis. During the same quarter last year, the company posted $8.26 EPS. Research analysts forecast that Deere & Company will post 19.52 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date is Tuesday, December 31st. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio (DPR) is presently 25.31%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on DE shares. Oppenheimer increased their target price on shares of Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Barclays boosted their target price on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. boosted their price objective on Deere & Company from $420.00 to $450.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. UBS Group increased their target price on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, Jefferies Financial Group cut Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target on the stock. in a report on Friday, December 6th. Eleven analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $443.94.

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.