Laurel Wealth Advisors LLC Has $277,000 Position in Deere & Company (NYSE:DE)

Laurel Wealth Advisors LLC trimmed its holdings in shares of Deere & Company (NYSE:DE) by 7.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 654 shares of the industrial products company’s stock after selling 50 shares during the quarter. Laurel Wealth Advisors LLC’s holdings in Deere & Company were worth $277,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Fairscale Capital LLC acquired a new position in shares of Deere & Company during the second quarter worth $26,000. Livelsberger Financial Advisory bought a new position in Deere & Company during the 3rd quarter worth $32,000. Modus Advisors LLC acquired a new position in Deere & Company during the 4th quarter worth about $32,000. Centennial Bank AR grew its position in shares of Deere & Company by 420.0% in the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after buying an additional 84 shares during the last quarter. Finally, Continuum Advisory LLC increased its stake in shares of Deere & Company by 155.8% in the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock valued at $43,000 after buying an additional 67 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Performance

DE stock opened at $432.17 on Wednesday. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. The firm has a market cap of $117.70 billion, a PE ratio of 16.88, a P/E/G ratio of 1.88 and a beta of 0.98. The business has a 50 day moving average of $429.20 and a 200-day moving average of $400.87. Deere & Company has a 12-month low of $340.20 and a 12-month high of $469.39.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The firm had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. During the same quarter in the prior year, the company earned $8.26 EPS. The business’s revenue for the quarter was down 32.8% on a year-over-year basis. As a group, sell-side analysts expect that Deere & Company will post 19.41 earnings per share for the current year.

Deere & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio (DPR) is 25.31%.

Wall Street Analyst Weigh In

DE has been the topic of a number of recent analyst reports. Citigroup cut their price objective on Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. upped their price objective on shares of Deere & Company from $420.00 to $450.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Morgan Stanley increased their price objective on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Jefferies Financial Group lowered shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a report on Friday, December 6th. Finally, Truist Financial increased their price target on Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Eleven analysts have rated the stock with a hold rating and nine have assigned 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 $441.72.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.