Dakota Wealth Management Reduces Stake in Deere & Company (NYSE:DE)

Dakota Wealth Management lowered its position in Deere & Company (NYSE:DE) by 16.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,338 shares of the industrial products company’s stock after selling 5,330 shares during the period. Dakota Wealth Management’s holdings in Deere & Company were worth $11,601,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of DE. Wellington Management Group LLP boosted its position in Deere & Company by 32.0% in the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock valued at $3,068,404,000 after buying an additional 1,782,984 shares during the last quarter. FMR LLC lifted its holdings in Deere & Company by 27.8% in the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock valued at $1,895,518,000 after acquiring an additional 988,380 shares during the period. Pathway Financial Advisers LLC lifted its holdings in Deere & Company by 53,338.6% in the third quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock valued at $356,602,000 after acquiring an additional 852,885 shares during the period. International Assets Investment Management LLC lifted its holdings in Deere & Company by 46,892.9% in the third quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company’s stock valued at $322,218,000 after acquiring an additional 770,451 shares during the period. Finally, Stockbridge Partners LLC lifted its holdings in Deere & Company by 157.5% in the third quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock valued at $369,019,000 after acquiring an additional 540,874 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Up 1.7 %

Shares of NYSE:DE opened at $463.06 on Wednesday. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. The business has a fifty day moving average of $432.55 and a two-hundred day moving average of $403.19. The stock has a market cap of $126.11 billion, a P/E ratio of 18.09, a PEG ratio of 2.81 and a beta of 0.98. Deere & Company has a 52-week low of $340.20 and a 52-week high of $469.39.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, topping analysts’ consensus estimates of $3.89 by $0.66. The business had revenue of $9.28 billion during 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 company’s revenue was down 32.8% compared to the same quarter last year. During the same period in the prior year, the business posted $8.26 EPS. On average, research analysts expect that Deere & Company will post 19.34 earnings per share for the current year.

Deere & Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $1.62 per share. The ex-dividend date is Tuesday, December 31st. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.40%. Deere & Company’s dividend payout ratio is currently 25.31%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. UBS Group boosted their price target on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. 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. JPMorgan Chase & Co. upped their target price on Deere & Company from $450.00 to $470.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 15th. Oppenheimer upped their target price on Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Finally, Morgan Stanley upped their target price on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. 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.com, Deere & Company presently has an average rating of “Hold” and a consensus price target of $442.83.

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.