abrdn plc Reduces Stock Position in Deere & Company (NYSE:DE)

abrdn plc lowered its holdings in shares of Deere & Company (NYSE:DE) by 4.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 228,724 shares of the industrial products company’s stock after selling 9,709 shares during the quarter. abrdn plc’s holdings in Deere & Company were worth $96,675,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of DE. Livelsberger Financial Advisory bought a new position in shares of Deere & Company in the 3rd quarter worth $32,000. Modus Advisors LLC purchased a new stake in Deere & Company during the 4th quarter valued at about $32,000. Synergy Asset Management LLC purchased a new stake in Deere & Company during the 4th quarter valued at about $35,000. Continuum Advisory LLC boosted its stake in shares of Deere & Company by 155.8% in the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after buying an additional 67 shares during the last quarter. Finally, Darwin Wealth Management LLC purchased a new stake in shares of Deere & Company in the third quarter worth about $47,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on DE. Truist Financial upped their target price on Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Oppenheimer increased their target price on Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Citigroup cut their price target on Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Jefferies Financial Group cut 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, Morgan Stanley increased their price objective on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Eleven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Deere & Company has an average rating of “Hold” and an average price target of $444.50.

Deere & Company Stock Down 2.0 %

DE opened at $467.07 on Tuesday. The business’s 50-day simple moving average is $444.68 and its 200-day simple moving average is $410.23. 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 one year low of $340.20 and a one year high of $485.84. The stock has a market capitalization of $127.21 billion, a P/E ratio of 18.24, a price-to-earnings-growth ratio of 2.94 and a beta of 0.98.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The firm had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. During the same quarter last year, the company posted $8.26 earnings per share. The business’s revenue was down 32.8% on a year-over-year basis. Analysts anticipate that Deere & Company will post 19.38 EPS for the current year.

Deere & Company Increases Dividend

The company 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. 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 1.39%. Deere & Company’s payout ratio is 25.31%.

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.