PFG Investments LLC Lowers Stock Holdings in Deere & Company (NYSE:DE)

PFG Investments LLC reduced its position in Deere & Company (NYSE:DE) by 3.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 5,827 shares of the industrial products company’s stock after selling 202 shares during the period. PFG Investments LLC’s holdings in Deere & Company were worth $2,469,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DE. Livelsberger Financial Advisory purchased a new stake in shares of Deere & Company during the 3rd quarter valued at $32,000. Modus Advisors LLC purchased a new stake in shares of Deere & Company during the 4th quarter valued at $32,000. Centennial Bank AR grew its stake in shares of Deere & Company by 420.0% during 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 period. Continuum Advisory LLC grew its stake in shares of Deere & Company by 155.8% during the 3rd 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. Finally, Darwin Wealth Management LLC purchased a new stake in shares of Deere & Company during the 3rd quarter valued at $47,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $478.90 on Monday. The firm has a market cap of $130.43 billion, a PE ratio of 18.71, a price-to-earnings-growth ratio of 2.84 and a beta of 0.98. The firm’s 50-day simple moving average is $438.55 and its 200-day simple moving average is $406.05. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. Deere & Company has a 1 year low of $340.20 and a 1 year high of $479.48.

Deere & Company (NYSE:DE) last issued its earnings results 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. The business had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The company’s revenue for the quarter was down 32.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $8.26 EPS. Equities analysts forecast that Deere & Company will post 19.34 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Tuesday, December 31st. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio is currently 25.31%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on DE shares. Jefferies Financial Group cut shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective for the company. in a research note on Friday, December 6th. Barclays lifted their target price on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Truist Financial lifted their target price on shares of Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Oppenheimer lifted their target price on shares of Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Finally, Morgan Stanley lifted their target price on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $442.83.

Deere & Company Company Profile

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.