Gleason Group Inc. Has $1.40 Million Stake in Deere & Company (NYSE:DE)

Gleason Group Inc. cut its stake in shares of Deere & Company (NYSE:DE) by 11.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,293 shares of the industrial products company’s stock after selling 443 shares during the quarter. Deere & Company accounts for about 0.2% of Gleason Group Inc.’s portfolio, making the stock its 26th largest position. Gleason Group Inc.’s holdings in Deere & Company were worth $1,395,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in DE. Fairscale Capital LLC bought a new position in Deere & Company in the 2nd quarter valued at approximately $26,000. Modus Advisors LLC acquired a new position in shares of Deere & Company during the fourth quarter worth $32,000. Livelsberger Financial Advisory bought a new stake in shares of Deere & Company in the third quarter worth $32,000. Centennial Bank AR increased its holdings in Deere & Company by 420.0% in the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 84 shares during the period. Finally, Continuum Advisory LLC raised its position in Deere & Company by 155.8% during the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 67 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Up 5.3 %

Shares of NYSE:DE opened at $430.17 on Tuesday. The stock has a market cap of $117.69 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 1.88 and a beta of 0.96. The business’s 50 day moving average is $428.56 and its 200 day moving average is $400.45. Deere & Company has a 12-month low of $340.20 and a 12-month high of $469.39. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating 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 company had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.20 billion. During the same period in the prior year, the company posted $8.26 earnings per share. Deere & Company’s quarterly revenue was down 32.8% on a year-over-year basis. On average, sell-side analysts forecast that Deere & Company will post 19.41 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $1.62 per share. The ex-dividend date is Tuesday, December 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.51%. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio (DPR) is presently 22.97%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on DE shares. Barclays increased their price target on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. upped their price objective on shares of Deere & Company from $420.00 to $450.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Truist Financial boosted their target price 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. Oppenheimer lifted their price objective on Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Finally, UBS Group raised 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. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $443.94.

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.