Keel Point LLC Cuts Stock Position in Deere & Company (NYSE:DE)

Keel Point LLC cut its stake in shares of Deere & Company (NYSE:DE) by 16.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 536 shares of the industrial products company’s stock after selling 109 shares during the period. Keel Point LLC’s holdings in Deere & Company were worth $214,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mackenzie Financial Corp lifted its holdings in shares of Deere & Company by 2.3% in the 4th quarter. Mackenzie Financial Corp now owns 157,381 shares of the industrial products company’s stock valued at $62,932,000 after buying an additional 3,536 shares during the period. TNF LLC raised its position in Deere & Company by 5.5% during the fourth quarter. TNF LLC now owns 953 shares of the industrial products company’s stock worth $379,000 after acquiring an additional 50 shares during the last quarter. Bison Wealth LLC grew its position in shares of Deere & Company by 34.4% in the fourth quarter. Bison Wealth LLC now owns 1,953 shares of the industrial products company’s stock valued at $781,000 after purchasing an additional 500 shares during the last quarter. Dakota Wealth Management raised its position in shares of Deere & Company by 0.8% during the 4th quarter. Dakota Wealth Management now owns 26,964 shares of the industrial products company’s stock worth $10,801,000 after purchasing an additional 212 shares during the last quarter. Finally, Cullen Investment Group LTD. purchased a new stake in shares of Deere & Company in the fourth quarter valued at $11,223,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Price Performance

DE stock opened at $393.11 on Wednesday. The firm has a market cap of $109.43 billion, a P/E ratio of 11.45, a price-to-earnings-growth ratio of 1.48 and a beta of 1.04. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.81 and a current ratio of 2.05. Deere & Company has a 1 year low of $345.55 and a 1 year high of $450.00. The stock has a 50-day simple moving average of $384.95 and a 200-day simple moving average of $382.56.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $1.04. The company had revenue of $10.49 billion during the quarter, compared to the consensus estimate of $10.30 billion. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. Deere & Company’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter last year, the company earned $6.55 earnings per share. On average, equities analysts predict that Deere & Company will post 27.41 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend is Wednesday, March 27th. Deere & Company’s dividend payout ratio (DPR) is 17.12%.

Analysts Set New Price Targets

A number of research analysts have issued reports on DE shares. JPMorgan Chase & Co. upped their target price on shares of Deere & Company from $415.00 to $425.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Melius Research reaffirmed a “hold” rating on shares of Deere & Company in a research report on Monday, January 8th. Evercore ISI upped their price objective on shares of Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a research note on Tuesday, February 20th. Truist Financial began coverage on shares of Deere & Company in a research report on Thursday, March 14th. They issued a “buy” rating and a $494.00 target price on the stock. Finally, Stifel Nicolaus dropped their price target on shares of Deere & Company from $435.00 to $425.00 and set a “buy” rating for the company in a research report on Friday, February 16th. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Deere & Company presently has an average rating of “Hold” and a consensus price target of $433.28.

Deere & Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.