Koshinski Asset Management Inc. Reduces Position in Deere & Company (NYSE:DE)

Koshinski Asset Management Inc. cut its stake in shares of Deere & Company (NYSE:DE) by 0.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,796 shares of the industrial products company’s stock after selling 126 shares during the quarter. Deere & Company makes up approximately 0.0% of Koshinski Asset Management Inc.’s holdings, making the stock its 20th biggest position. Koshinski Asset Management Inc.’s holdings in Deere & Company were worth $10,506,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DE. Hoese & Co LLP purchased a new position in Deere & Company during the fourth quarter valued at $70,000. DLK Investment Management LLC lifted its stake in shares of Deere & Company by 0.3% in 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 purchasing an additional 24 shares during the last quarter. Mechanics Bank Trust Department boosted its stake in Deere & Company by 23.8% during the fourth quarter. Mechanics Bank Trust Department now owns 1,776 shares of the industrial products company’s stock worth $752,000 after buying an additional 342 shares during the period. Mandatum Life Insurance Co Ltd boosted its stake in shares of Deere & Company by 37.5% during the 4th quarter. Mandatum Life Insurance Co Ltd now owns 2,938 shares of the industrial products company’s stock worth $1,245,000 after purchasing an additional 801 shares during the period. Finally, Grove Bank & Trust grew its stake in shares of Deere & Company by 2.6% during the fourth quarter. Grove Bank & Trust now owns 1,601 shares of the industrial products company’s stock valued at $678,000 after buying an additional 41 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DE has been the topic of a number of research analyst reports. Oppenheimer upped their price target on shares of Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Barclays boosted their price target on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. UBS Group raised their target price on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. boosted their price target on Deere & Company from $450.00 to $470.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 15th. Finally, Jefferies Financial Group downgraded Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a research report on Friday, December 6th. Eleven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $442.83.

Deere & Company Trading Up 4.0 %

DE stock opened at $456.57 on Tuesday. The firm has a market cap of $124.00 billion, a P/E ratio of 17.83, a PEG ratio of 1.74 and a beta of 0.98. The company’s 50-day simple moving average is $431.48 and its 200-day simple moving average is $402.53. 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 has a 52-week low of $340.20 and a 52-week high of $469.39.

Deere & Company (NYSE:DE) last announced 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 net margin of 13.73% and a return on equity of 31.32%. The business had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. During the same quarter last year, the business earned $8.26 earnings per share. The company’s revenue for the quarter was down 32.8% compared to the same quarter last year. As a group, equities analysts forecast that Deere & Company will post 19.57 EPS for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $1.62 per share. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.42%. Deere & Company’s dividend payout ratio is presently 25.31%.

About Deere & Company

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.