Abundance Wealth Counselors Decreases Stock Holdings in Deere & Company (NYSE:DE)

Abundance Wealth Counselors reduced its position in shares of Deere & Company (NYSE:DE) by 4.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,774 shares of the industrial products company’s stock after selling 173 shares during the period. Abundance Wealth Counselors’ holdings in Deere & Company were worth $1,599,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Wellington Management Group LLP boosted its stake in shares of Deere & Company by 32.0% during the 3rd quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock valued at $3,068,404,000 after purchasing an additional 1,782,984 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Deere & Company by 0.6% in the third quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company’s stock worth $2,168,737,000 after buying an additional 31,459 shares during the period. FMR LLC boosted its position in Deere & Company by 27.8% during the 3rd quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock valued at $1,895,518,000 after acquiring an additional 988,380 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of Deere & Company by 8.6% during the 3rd quarter. Fisher Asset Management LLC now owns 1,994,657 shares of the industrial products company’s stock worth $832,431,000 after acquiring an additional 158,732 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Deere & Company by 5.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,731,801 shares of the industrial products company’s stock worth $722,733,000 after acquiring an additional 85,401 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

DE has been the topic of several recent research reports. Truist Financial upped their price target on Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Jefferies Financial Group downgraded shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a research report on Friday, December 6th. Barclays raised their price objective on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. upped their price target on shares of Deere & Company from $450.00 to $470.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 15th. Finally, UBS Group raised their price objective on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $444.50.

Deere & Company Price Performance

Shares of NYSE:DE opened at $476.29 on Friday. Deere & Company has a twelve month low of $340.20 and a twelve month high of $485.84. The firm’s 50 day moving average price is $444.68 and its 200-day moving average price is $409.82. 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 stock has a market capitalization of $129.72 billion, a PE ratio of 18.61, a price-to-earnings-growth ratio of 2.95 and a beta of 0.98.

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 company had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. During the same period in the previous year, the company posted $8.26 EPS. The firm’s revenue was down 32.8% on a year-over-year basis. Equities research analysts expect that Deere & Company will post 19.38 EPS for the current year.

Deere & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.36%. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend is Tuesday, December 31st. Deere & Company’s dividend payout ratio (DPR) is presently 25.31%.

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.