Glassman Wealth Services Sells 143 Shares of Deere & Company (NYSE:DE)

Glassman Wealth Services decreased its holdings in Deere & Company (NYSE:DE) by 9.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,311 shares of the industrial products company’s stock after selling 143 shares during the period. Glassman Wealth Services’ holdings in Deere & Company were worth $524,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in DE. Assenagon Asset Management S.A. boosted its stake in shares of Deere & Company by 1.5% in the third quarter. Assenagon Asset Management S.A. now owns 8,278 shares of the industrial products company’s stock worth $3,124,000 after acquiring an additional 125 shares during the period. Sfmg LLC lifted its position in shares of Deere & Company by 15.3% in the third quarter. Sfmg LLC now owns 1,504 shares of the industrial products company’s stock worth $568,000 after buying an additional 200 shares in the last quarter. XML Financial LLC lifted its position in shares of Deere & Company by 16.8% in the third quarter. XML Financial LLC now owns 821 shares of the industrial products company’s stock worth $310,000 after buying an additional 118 shares in the last quarter. Versor Investments LP purchased a new stake in shares of Deere & Company in the third quarter worth about $801,000. Finally, Childress Capital Advisors LLC purchased a new stake in shares of Deere & Company in the third quarter worth about $312,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Down 1.1 %

NYSE:DE traded down $4.28 during midday trading on Friday, hitting $374.96. The stock had a trading volume of 1,511,751 shares, compared to its average volume of 1,459,758. Deere & Company has a one year low of $345.55 and a one year high of $450.00. The company has a market capitalization of $104.37 billion, a price-to-earnings ratio of 11.29, a PEG ratio of 1.50 and a beta of 1.04. The stock has a 50-day moving average of $399.76 and a 200 day moving average of $386.52. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, May 16th. The industrial products company reported $8.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.86 by $0.67. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The company had revenue of $13.61 billion for the quarter, compared to analysts’ expectations of $13.29 billion. During the same quarter in the prior year, the firm earned $9.65 earnings per share. Deere & Company’s revenue was down 15.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Deere & Company will post 25.8 EPS for the current year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 8th. Investors of record on Friday, March 29th were paid a $1.47 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $5.88 annualized dividend and a yield of 1.57%. Deere & Company’s dividend payout ratio (DPR) is currently 17.70%.

Wall Street Analysts Forecast Growth

DE has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft decreased their target price on Deere & Company from $425.00 to $401.00 and set a “hold” rating on the stock in a research report on Friday, February 16th. Oppenheimer restated an “outperform” rating and set a $456.00 price objective on shares of Deere & Company in a research report on Thursday, May 16th. Truist Financial assumed coverage on Deere & Company in a research report on Thursday, March 14th. They set a “buy” rating and a $494.00 price objective on the stock. Stifel Nicolaus upped their price objective on Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Finally, Evercore ISI upped their price objective on Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a research report on Tuesday, February 20th. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Deere & Company presently has an average rating of “Moderate Buy” and a consensus price target of $432.92.

Deere & Company 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.