Moloney Securities Asset Management LLC Reduces Stock Position in Deere & Company (NYSE:DE)

Moloney Securities Asset Management LLC trimmed its holdings in shares of Deere & Company (NYSE:DE) by 18.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,740 shares of the industrial products company’s stock after selling 405 shares during the quarter. Moloney Securities Asset Management LLC’s holdings in Deere & Company were worth $737,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Robertson Stephens Wealth Management LLC grew its stake in shares of Deere & Company by 2.2% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company’s stock valued at $426,000 after buying an additional 22 shares in the last quarter. DLK Investment Management LLC boosted its holdings in Deere & Company by 0.3% during the 4th quarter. DLK Investment Management LLC now owns 8,212 shares of the industrial products company’s stock valued at $3,479,000 after acquiring an additional 24 shares during the period. Mattern Wealth Management LLC grew its position in Deere & Company by 1.3% in the 3rd quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock valued at $786,000 after acquiring an additional 25 shares in the last quarter. Carret Asset Management LLC increased its stake in Deere & Company by 0.3% during the third quarter. Carret Asset Management LLC now owns 8,148 shares of the industrial products company’s stock worth $3,401,000 after purchasing an additional 25 shares during the period. Finally, Round Rock Advisors LLC increased its stake in Deere & Company by 2.0% during the third quarter. Round Rock Advisors LLC now owns 1,252 shares of the industrial products company’s stock worth $522,000 after purchasing an additional 25 shares during the period. Institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

DE has been the subject of a number of research reports. Truist Financial lifted their price objective 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. Morgan Stanley upped their price objective on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Oppenheimer lifted their target price on Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. UBS Group boosted their target price on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Finally, JPMorgan Chase & Co. increased their price target on 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 assigned a buy rating to the company’s stock. According to MarketBeat, Deere & Company presently has an average rating of “Hold” and an average price target of $444.50.

Deere & Company Price Performance

Shares of NYSE:DE opened at $465.63 on Monday. Deere & Company has a 12 month low of $340.20 and a 12 month high of $485.84. The firm has a market capitalization of $126.82 billion, a P/E ratio of 18.19, a P/E/G ratio of 2.87 and a beta of 0.98. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. The company’s fifty day moving average price is $445.00 and its 200 day moving average price is $413.15.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping analysts’ consensus estimates of $3.89 by $0.66. The business had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The business’s revenue was down 32.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $8.26 earnings per share. As a group, sell-side analysts predict that Deere & Company will post 19.38 earnings per share for the current fiscal 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 issued a $1.62 dividend. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend is Tuesday, December 31st. Deere & Company’s dividend payout ratio is presently 25.31%.

Deere & 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.