Beacon Investment Advisory Services Inc. Sells 73 Shares of Deere & Company (NYSE:DE)

Beacon Investment Advisory Services Inc. trimmed its position in Deere & Company (NYSE:DE) by 4.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,433 shares of the industrial products company’s stock after selling 73 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in Deere & Company were worth $607,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of DE. Wellington Management Group LLP increased its position in Deere & Company by 32.0% during the third 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 acquiring an additional 1,782,984 shares during the last quarter. FMR LLC grew its holdings 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 worth $1,895,518,000 after acquiring an additional 988,380 shares in the last quarter. Pathway Financial Advisers LLC increased its holdings in Deere & Company by 53,338.6% during the third quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock valued at $356,602,000 after buying an additional 852,885 shares during the period. International Assets Investment Management LLC boosted its position in Deere & Company by 46,892.9% during the 3rd quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company’s stock valued at $322,218,000 after acquiring an additional 770,451 shares in the last quarter. Finally, Stockbridge Partners LLC lifted its stake in shares of Deere & Company by 157.5% during the 3rd quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock worth $369,019,000 after purchasing an additional 540,874 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

DE opened at $475.22 on Friday. Deere & Company has a twelve month low of $340.20 and a twelve month high of $475.92. The firm has a market capitalization of $129.43 billion, a PE ratio of 18.56, a PEG ratio of 2.86 and a beta of 0.98. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89. The firm’s 50-day moving average price is $435.34 and its 200 day moving average price is $404.30.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, topping the consensus estimate of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The business had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.20 billion. During the same period in the previous year, the firm posted $8.26 EPS. The business’s revenue for the quarter was down 32.8% compared to the same quarter last year. As a group, sell-side analysts expect that Deere & Company will post 19.34 EPS for the current fiscal year.

Deere & Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be paid a $1.62 dividend. 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. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.36%. Deere & Company’s dividend payout ratio (DPR) is 25.31%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on DE. Barclays increased their price objective on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Jefferies Financial Group lowered Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price for the company. in a research note on Friday, December 6th. Truist Financial boosted their price target on Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Oppenheimer raised their price target on shares of Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Deere & Company from $450.00 to $470.00 and gave the company a “neutral” rating in a research report on Wednesday, January 15th. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $442.83.

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.