Great Lakes Retirement Inc. Lowers Stock Holdings in Deere & Company (NYSE:DE)

Great Lakes Retirement Inc. lowered its position in shares of Deere & Company (NYSE:DE) by 0.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,481 shares of the industrial products company’s stock after selling 50 shares during the period. Great Lakes Retirement Inc.’s holdings in Deere & Company were worth $2,322,000 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 the company. Pineridge Advisors LLC lifted its position in Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after buying an additional 26 shares during the last quarter. Livelsberger Financial Advisory purchased a new position in Deere & Company in the 3rd quarter worth $32,000. Modus Advisors LLC bought a new stake in Deere & Company in the fourth quarter worth $32,000. YANKCOM Partnership purchased a new stake in Deere & Company during the fourth quarter valued at about $34,000. Finally, Synergy Asset Management LLC bought a new position in shares of Deere & Company during the fourth quarter valued at about $35,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on DE. Oppenheimer boosted their target price on Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Citigroup lowered their price objective on 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 target price on shares of Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a report on Monday. Truist Financial lifted their target price on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, Barclays increased their price target on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Eleven equities research 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, Deere & Company presently has a consensus rating of “Hold” and a consensus target price of $446.17.

Deere & Company Trading Up 1.0 %

DE opened at $474.79 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. Deere & Company has a 52 week low of $340.20 and a 52 week high of $485.84. The stock has a market cap of $129.31 billion, a PE ratio of 18.55, a PEG ratio of 2.87 and a beta of 0.98. The business has a 50 day moving average of $445.15 and a 200-day moving average of $414.08.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $9.20 billion. During the same quarter last year, the firm posted $8.26 earnings per share. The company’s revenue for the quarter was down 32.8% on a year-over-year basis. Equities research analysts predict that Deere & Company will post 19.38 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Tuesday, December 31st were given a dividend of $1.62 per share. 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 yield of 1.36%. The ex-dividend date was Tuesday, December 31st. 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.