Deere & Company (NYSE:DE) Shares Sold by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC decreased its position in Deere & Company (NYSE:DE) by 23.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,179 shares of the industrial products company’s stock after selling 677 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Deere & Company were worth $924,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in DE. Mattern Wealth Management LLC boosted its holdings in Deere & Company by 1.3% in the third quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock worth $786,000 after purchasing an additional 25 shares during the period. Carret Asset Management LLC lifted its position in shares of Deere & Company by 0.3% in the 3rd quarter. Carret Asset Management LLC now owns 8,148 shares of the industrial products company’s stock worth $3,401,000 after buying an additional 25 shares during the last quarter. Round Rock Advisors LLC boosted its holdings in shares of Deere & Company by 2.0% in the 3rd quarter. Round Rock Advisors LLC now owns 1,252 shares of the industrial products company’s stock valued at $522,000 after buying an additional 25 shares during the period. Douglas Lane & Associates LLC grew its position in shares of Deere & Company by 4.7% during the 4th quarter. Douglas Lane & Associates LLC now owns 557 shares of the industrial products company’s stock valued at $236,000 after buying an additional 25 shares during the last quarter. Finally, Centaurus Financial Inc. raised its stake in Deere & Company by 2.3% during the second quarter. Centaurus Financial Inc. now owns 1,160 shares of the industrial products company’s stock worth $433,000 after acquiring an additional 26 shares during the period. 68.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

DE has been the subject of a number of research reports. Truist Financial lifted their target price on Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Barclays upped their price objective on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Citigroup raised their target price on Deere & Company from $460.00 to $470.00 and gave the company a “neutral” rating in a research note on Monday, December 9th. JPMorgan Chase & Co. upped their price target on shares of Deere & Company from $420.00 to $450.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Finally, Jefferies Financial Group downgraded shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective on the stock. in a research report on Friday, December 6th. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Deere & Company has an average rating of “Hold” and an average target price of $443.94.

Deere & Company Trading Up 5.3 %

Shares of Deere & Company stock opened at $430.17 on Tuesday. The business has a fifty day simple moving average of $428.56 and a 200-day simple moving average of $400.45. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $469.39. The firm has a market cap of $117.69 billion, a price-to-earnings ratio of 16.80, a price-to-earnings-growth ratio of 1.88 and a beta of 0.96. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating analysts’ consensus estimates of $3.89 by $0.66. The company had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. Deere & Company’s revenue was down 32.8% on a year-over-year basis. During the same period in the prior year, the company earned $8.26 EPS. On average, equities analysts forecast that Deere & Company will post 19.41 EPS for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be given a $1.62 dividend. 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 yield of 1.51%. Deere & Company’s payout ratio is 22.97%.

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.