Calamos Advisors LLC Cuts Stake in Deere & Company (NYSE:DE)

Calamos Advisors LLC reduced its stake in Deere & Company (NYSE:DE) by 1.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,749 shares of the industrial products company’s stock after selling 869 shares during the period. Calamos Advisors LLC’s holdings in Deere & Company were worth $22,292,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of DE. Briaud Financial Planning Inc purchased a new stake in shares of Deere & Company during the third quarter valued at $25,000. Retirement Group LLC boosted its position in shares of Deere & Company by 264.7% during the second quarter. Retirement Group LLC now owns 62 shares of the industrial products company’s stock valued at $25,000 after buying an additional 45 shares during the last quarter. ZRC Wealth Management LLC purchased a new stake in shares of Deere & Company during the fourth quarter valued at $28,000. Rakuten Securities Inc. purchased a new stake in shares of Deere & Company during the fourth quarter valued at $28,000. Finally, Worth Asset Management LLC bought a new position in Deere & Company in the first quarter valued at about $28,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Price Performance

NYSE DE traded up $0.04 during trading on Friday, hitting $400.64. 135,247 shares of the stock traded hands, compared to its average volume of 1,482,963. The company has a market capitalization of $111.52 billion, a P/E ratio of 11.67, a price-to-earnings-growth ratio of 1.49 and a beta of 1.04. The firm has a 50-day simple moving average of $385.47 and a 200-day simple moving average of $382.79. The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 1.81. Deere & Company has a 12-month low of $345.55 and a 12-month high of $450.00.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, beating the consensus estimate of $5.19 by $1.04. The business had revenue of $10.49 billion during the quarter, compared to analysts’ expectations of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter last year, the business posted $6.55 EPS. As a group, analysts predict that Deere & Company will post 27.39 EPS for the current year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th will be issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Wednesday, March 27th. Deere & Company’s dividend payout ratio (DPR) is 17.12%.

Wall Street Analyst Weigh In

DE has been the topic of a number of recent research reports. Stifel Nicolaus lowered their target price on Deere & Company from $435.00 to $425.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Melius Research reissued a “hold” rating on shares of Deere & Company in a report on Monday, January 8th. Evercore ISI increased their target price on Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a report on Tuesday, February 20th. Truist Financial initiated coverage on Deere & Company in a report on Thursday, March 14th. They issued a “buy” rating and a $494.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Deere & Company from $425.00 to $401.00 and set a “hold” rating on the stock in a research note on Friday, February 16th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Deere & Company has an average rating of “Hold” and an average target price of $433.28.

Deere & Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.