Northern Financial Advisors Inc Sells 61 Shares of Deere & Company (NYSE:DE)

Northern Financial Advisors Inc reduced its position in shares of Deere & Company (NYSE:DE) by 5.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,053 shares of the industrial products company’s stock after selling 61 shares during the period. Northern Financial Advisors Inc’s holdings in Deere & Company were worth $446,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in shares of Deere & Company by 32.0% during the 3rd quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock worth $3,068,404,000 after purchasing an additional 1,782,984 shares during the period. FMR LLC increased its holdings in Deere & Company by 27.8% during the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock worth $1,895,518,000 after buying an additional 988,380 shares during the last quarter. Pathway Financial Advisers LLC raised its position 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 worth $356,602,000 after acquiring an additional 852,885 shares during the period. International Assets Investment Management LLC boosted its stake 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 last quarter. Finally, Stockbridge Partners LLC grew its position in shares of Deere & Company by 157.5% during the 3rd 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. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Price Performance

NYSE:DE opened at $466.30 on Friday. Deere & Company has a 52-week low of $340.20 and a 52-week high of $485.84. The stock has a fifty day moving average of $445.86 and a 200 day moving average of $415.14. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. The firm has a market capitalization of $127.00 billion, a price-to-earnings ratio of 18.21, a P/E/G ratio of 2.87 and a beta of 0.98.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. On average, research analysts expect that Deere & Company will post 19.38 EPS for the current fiscal year.

Deere & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend was Tuesday, December 31st. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s payout ratio is currently 25.31%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Truist Financial lifted their price target 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. UBS Group upped their price target on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Barclays lifted their price objective on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. 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 report on Friday, December 6th. Finally, Morgan Stanley lifted their target price 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. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Deere & Company presently has an average rating of “Hold” and a consensus price target of $446.17.

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.