Legacy Financial Advisors Inc. Sells 49 Shares of Deere & Company (NYSE:DE)

Legacy Financial Advisors Inc. lowered its stake in shares of Deere & Company (NYSE:DE) by 3.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,275 shares of the industrial products company’s stock after selling 49 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Deere & Company were worth $510,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Pinnacle Associates Ltd. increased its stake in shares of Deere & Company by 11.0% in the 3rd quarter. Pinnacle Associates Ltd. now owns 4,416 shares of the industrial products company’s stock valued at $1,666,000 after buying an additional 438 shares during the period. Stratos Wealth Advisors LLC boosted its holdings in Deere & Company by 8.6% in the third quarter. Stratos Wealth Advisors LLC now owns 2,247 shares of the industrial products company’s stock valued at $848,000 after acquiring an additional 178 shares during the last quarter. J.W. Cole Advisors Inc. increased its position in Deere & Company by 2.0% in the third quarter. J.W. Cole Advisors Inc. now owns 3,677 shares of the industrial products company’s stock worth $1,388,000 after purchasing an additional 73 shares during the period. Segment Wealth Management LLC raised its holdings in Deere & Company by 5.8% during the 3rd quarter. Segment Wealth Management LLC now owns 825 shares of the industrial products company’s stock worth $311,000 after purchasing an additional 45 shares during the last quarter. Finally, Miracle Mile Advisors LLC lifted its position in Deere & Company by 3.5% during the 3rd quarter. Miracle Mile Advisors LLC now owns 4,006 shares of the industrial products company’s stock valued at $1,512,000 after purchasing an additional 137 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on DE shares. Stifel Nicolaus lowered their price target on shares of Deere & Company from $435.00 to $425.00 and set a “buy” rating for the company in a research report on Friday, February 16th. Evercore ISI increased their price target on Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a research note on Tuesday, February 20th. JPMorgan Chase & Co. increased their target price on Deere & Company from $415.00 to $425.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Melius Research restated a “hold” rating on shares of Deere & Company in a report on Monday, January 8th. Finally, Truist Financial began coverage on Deere & Company in a research note on Thursday, March 14th. They issued a “buy” rating and a $494.00 price target for the company. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $433.28.

Deere & Company Stock Up 1.3 %

Shares of DE traded up $5.00 during mid-day trading on Friday, hitting $400.96. 1,626,960 shares of the company’s stock were exchanged, compared to its average volume of 1,337,641. The company has a 50-day simple moving average of $391.45 and a 200 day simple moving average of $383.91. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.05 and a quick ratio of 1.81. The company has a market cap of $111.61 billion, a PE ratio of 11.68, a P/E/G ratio of 1.49 and a beta of 1.04. Deere & Company has a 52 week low of $345.55 and a 52 week high of $450.00.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, beating analysts’ consensus estimates of $5.19 by $1.04. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The business had revenue of $10.49 billion during the quarter, compared to the consensus estimate of $10.30 billion. During the same quarter last year, the firm earned $6.55 earnings per share. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year. On average, research analysts forecast that Deere & Company will post 27.37 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

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

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.