Olstein Capital Management L.P. Lowers Stake in Deere & Company (NYSE:DE)

Olstein Capital Management L.P. lowered its position in shares of Deere & Company (NYSE:DE) by 23.2% in the 4th quarter, HoldingsChannel reports. The firm owned 15,750 shares of the industrial products company’s stock after selling 4,750 shares during the quarter. Olstein Capital Management L.P.’s holdings in Deere & Company were worth $6,673,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DE. DLK Investment Management LLC lifted its position in Deere & Company by 0.3% in the 4th quarter. DLK Investment Management LLC now owns 8,212 shares of the industrial products company’s stock worth $3,479,000 after buying an additional 24 shares during the last quarter. Mattern Wealth Management LLC lifted its holdings in shares of Deere & Company by 1.3% in the 3rd quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock worth $786,000 after acquiring an additional 25 shares during the last quarter. Carret Asset Management LLC boosted its stake 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 valued at $3,401,000 after purchasing an additional 25 shares in the last quarter. Round Rock Advisors LLC boosted its stake 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 purchasing an additional 25 shares in the last quarter. Finally, Douglas Lane & Associates LLC raised its position in Deere & Company by 4.7% in the 4th quarter. Douglas Lane & Associates LLC now owns 557 shares of the industrial products company’s stock worth $236,000 after purchasing an additional 25 shares during the period. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on DE shares. Citigroup cut their price target on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. JPMorgan Chase & Co. raised their price target on Deere & Company from $450.00 to $470.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 15th. Truist Financial boosted their price objective on Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Jefferies Financial Group cut shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a report on Friday, December 6th. Finally, Oppenheimer upped their price target on shares of Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $442.83.

Deere & Company Trading Up 0.9 %

NYSE DE opened at $478.90 on Friday. The firm has a market capitalization of $130.43 billion, a PE ratio of 18.71, a P/E/G ratio of 2.84 and a beta of 0.98. The stock’s 50 day moving average is $438.55 and its 200 day moving average is $405.66. Deere & Company has a twelve month low of $340.20 and a twelve 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.

Deere & Company (NYSE:DE) last released its 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. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The firm had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. During the same period in the prior year, the firm earned $8.26 EPS. The 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date is Tuesday, December 31st. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio (DPR) is 25.31%.

About Deere & Company

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.