Mainsail Financial Group LLC Cuts Stock Position in Deere & Company (NYSE:DE)

Mainsail Financial Group LLC trimmed its position in shares of Deere & Company (NYSE:DE) by 0.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,406 shares of the industrial products company’s stock after selling 26 shares during the period. Deere & Company comprises 0.8% of Mainsail Financial Group LLC’s investment portfolio, making the stock its 28th largest position. Mainsail Financial Group LLC’s holdings in Deere & Company were worth $1,443,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. BLB&B Advisors LLC lifted its stake in Deere & Company by 2.2% in the fourth quarter. BLB&B Advisors LLC now owns 27,909 shares of the industrial products company’s stock worth $11,825,000 after purchasing an additional 606 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in shares of Deere & Company in the 4th quarter valued at about $247,000. Prairie Wealth Advisors Inc. boosted its holdings in Deere & Company by 3.8% during the 4th quarter. Prairie Wealth Advisors Inc. now owns 964 shares of the industrial products company’s stock valued at $410,000 after acquiring an additional 35 shares during the period. Fairvoy Private Wealth LLC bought a new position in Deere & Company during the 4th quarter worth approximately $802,000. Finally, Keystone Financial Group Inc. purchased a new position in Deere & Company in the 4th quarter worth approximately $129,000. Institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Jefferies Financial Group lowered 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. Morgan Stanley increased their price target on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. UBS Group boosted their price objective on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. increased their target price on shares of Deere & Company from $450.00 to $470.00 and gave the stock a “neutral” rating in a report on Wednesday, January 15th. Finally, Truist Financial boosted their price target on Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Deere & Company currently has a consensus rating of “Hold” and a consensus target price of $444.50.

Deere & Company Trading Up 0.1 %

NYSE:DE opened at $465.63 on Friday. The firm has a market capitalization of $126.82 billion, a P/E ratio of 18.19, a PEG ratio of 2.94 and a beta of 0.98. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. Deere & Company has a one year low of $340.20 and a one year high of $485.84. The company’s 50-day simple moving average is $445.01 and its 200 day simple moving average is $412.26.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping analysts’ consensus estimates of $3.89 by $0.66. The firm had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The business’s revenue for the quarter was down 32.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $8.26 EPS. As a group, analysts forecast that Deere & Company will post 19.38 EPS 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 given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Tuesday, December 31st. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s payout ratio is currently 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.