Deere & Company (NYSE:DE) Shares Sold by Beacon Investment Advisory Services Inc.

Beacon Investment Advisory Services Inc. cut its holdings in Deere & Company (NYSE:DE) by 4.8% during the fourth quarter, HoldingsChannel reports. The fund owned 1,433 shares of the industrial products company’s stock after selling 73 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Deere & Company were worth $607,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in shares of Deere & Company by 32.0% in the 3rd quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock valued at $3,068,404,000 after acquiring an additional 1,782,984 shares during the period. Geode Capital Management LLC increased its holdings in Deere & Company by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company’s stock valued at $2,168,737,000 after purchasing an additional 31,459 shares during the last quarter. FMR LLC raised its position in Deere & Company by 27.8% in the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock valued at $1,895,518,000 after purchasing an additional 988,380 shares during the period. Legal & General Group Plc lifted its stake in Deere & Company by 2.7% during the second quarter. Legal & General Group Plc now owns 2,254,266 shares of the industrial products company’s stock worth $842,259,000 after purchasing an additional 60,255 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its position in shares of Deere & Company by 8.6% during the third quarter. Fisher Asset Management LLC now owns 1,994,657 shares of the industrial products company’s stock worth $832,431,000 after buying an additional 158,732 shares during the period. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

Shares of DE opened at $475.22 on Friday. The company has a market capitalization of $129.43 billion, a price-to-earnings ratio of 18.56, a price-to-earnings-growth ratio of 2.86 and a beta of 0.98. Deere & Company has a 52-week low of $340.20 and a 52-week high of $475.92. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. The stock has a 50 day moving average price of $435.34 and a 200 day moving average price of $404.30.

Deere & Company (NYSE:DE) last issued 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. The business had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The company’s revenue for the quarter was down 32.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $8.26 EPS. Research analysts predict that Deere & Company will post 19.34 EPS for the current fiscal year.

Deere & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Shareholders 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 annualized dividend and a dividend yield of 1.36%. Deere & Company’s dividend payout ratio (DPR) is presently 25.31%.

Analyst Ratings Changes

DE has been the topic of several research reports. Morgan Stanley increased their target price on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Jefferies Financial Group lowered shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective for the company. in a research note on Friday, December 6th. Oppenheimer lifted their price objective on shares of Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Truist Financial increased their target price on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, UBS Group boosted their price target on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Eleven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $442.83.

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.