Dynamic Advisor Solutions LLC Sells 349 Shares of Deere & Company (NYSE:DE)

Dynamic Advisor Solutions LLC trimmed its holdings in Deere & Company (NYSE:DE) by 3.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 11,389 shares of the industrial products company’s stock after selling 349 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in Deere & Company were worth $4,826,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of DE. Public Sector Pension Investment Board grew its holdings in Deere & Company by 80.5% during the second quarter. Public Sector Pension Investment Board now owns 9,171 shares of the industrial products company’s stock valued at $3,427,000 after purchasing an additional 4,091 shares during the last quarter. Deerfield Management Company L.P. Series C grew its stake in Deere & Company by 84.8% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 1,589 shares of the industrial products company’s stock valued at $594,000 after buying an additional 729 shares during the last quarter. Daymark Wealth Partners LLC grew its stake in Deere & Company by 68.2% in the 2nd quarter. Daymark Wealth Partners LLC now owns 7,072 shares of the industrial products company’s stock valued at $2,642,000 after buying an additional 2,867 shares during the last quarter. MBB Public Markets I LLC bought a new position in Deere & Company in the 2nd quarter worth $7,010,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in Deere & Company by 5.3% during the second quarter. The Manufacturers Life Insurance Company now owns 440,028 shares of the industrial products company’s stock valued at $164,408,000 after acquiring an additional 21,955 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Trading Up 0.9 %

Shares of DE stock opened at $478.90 on Friday. The company has a market capitalization of $130.43 billion, a P/E ratio of 18.71, a P/E/G ratio of 2.84 and a beta of 0.98. Deere & Company has a 12-month low of $340.20 and a 12-month high of $479.48. 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 firm has a 50-day moving average price of $438.55 and a 200 day moving average price of $405.66.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping the consensus estimate of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The business had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. During the same period in the previous year, the business earned $8.26 EPS. Deere & Company’s revenue was down 32.8% compared to the same quarter last year. Research analysts forecast that Deere & Company will post 19.34 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be paid a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change 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 1.35%. Deere & Company’s dividend payout ratio (DPR) is 25.31%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on DE shares. JPMorgan Chase & Co. lifted their price objective on Deere & Company from $450.00 to $470.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 15th. Barclays upped their price target on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Morgan Stanley raised their price objective on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. UBS Group increased their price target on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Finally, Truist Financial boosted their price objective on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus 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.