Laurel Wealth Advisors LLC Sells 50 Shares of Deere & Company (NYSE:DE)

Laurel Wealth Advisors LLC lessened its position in shares of Deere & Company (NYSE:DE) by 7.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 654 shares of the industrial products company’s stock after selling 50 shares during the quarter. Laurel Wealth Advisors LLC’s holdings in Deere & Company were worth $277,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Mattern Wealth Management LLC raised its position in shares of Deere & Company by 1.3% in the third quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock valued at $786,000 after purchasing an additional 25 shares during the period. Carret Asset Management LLC raised its holdings in Deere & Company by 0.3% during the 3rd quarter. Carret Asset Management LLC now owns 8,148 shares of the industrial products company’s stock valued at $3,401,000 after acquiring an additional 25 shares during the period. Round Rock Advisors LLC lifted its position in shares of 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 acquiring an additional 25 shares in the last quarter. Douglas Lane & Associates LLC boosted its holdings in shares of Deere & Company by 4.7% in the fourth quarter. Douglas Lane & Associates LLC now owns 557 shares of the industrial products company’s stock worth $236,000 after acquiring an additional 25 shares during the period. Finally, Centaurus Financial Inc. grew its position in shares of Deere & Company by 2.3% in the second quarter. Centaurus Financial Inc. now owns 1,160 shares of the industrial products company’s stock valued at $433,000 after purchasing an additional 26 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on DE shares. JPMorgan Chase & Co. increased their price objective on Deere & Company from $420.00 to $450.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Morgan Stanley increased their price target on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Barclays boosted their price objective on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Jefferies Financial Group downgraded shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target for the company. in a report on Friday, December 6th. Finally, Truist Financial boosted their target price on Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Eleven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Deere & Company presently has a consensus rating of “Hold” and a consensus price target of $441.72.

Deere & Company Stock Performance

NYSE:DE opened at $432.17 on Wednesday. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $469.39. The firm has a market cap of $117.70 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 1.88 and a beta of 0.98. The business has a 50 day moving average price of $429.20 and a 200-day moving average price of $400.87.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating the consensus estimate of $3.89 by $0.66. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The business had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. During the same quarter in the prior year, the company posted $8.26 EPS. The firm’s revenue for the quarter was down 32.8% compared to the same quarter last year. Equities research analysts predict that Deere & Company will post 19.41 earnings per share for the current year.

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be paid a $1.62 dividend. The ex-dividend date is Tuesday, December 31st. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a dividend yield of 1.50%. Deere & Company’s dividend payout ratio (DPR) is presently 25.31%.

Deere & Company 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.