SeaBridge Investment Advisors LLC Reduces Holdings in Deere & Company $DE

SeaBridge Investment Advisors LLC trimmed its stake in Deere & Company (NYSE:DE) by 11.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,272 shares of the industrial products company’s stock after selling 913 shares during the period. SeaBridge Investment Advisors LLC’s holdings in Deere & Company were worth $3,386,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Strategic Advocates LLC purchased a new position in shares of Deere & Company in the 3rd quarter valued at $25,000. Activest Wealth Management boosted its stake in Deere & Company by 69.2% during the 3rd quarter. Activest Wealth Management now owns 66 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 27 shares during the period. Wealth Watch Advisors INC acquired a new stake in Deere & Company during the 3rd quarter worth $32,000. United Community Bank boosted its stake in Deere & Company by 67.3% during the 3rd quarter. United Community Bank now owns 92 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 37 shares during the period. Finally, GoalVest Advisory LLC boosted its stake in Deere & Company by 56.7% during the 4th quarter. GoalVest Advisory LLC now owns 94 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 34 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

Shares of DE opened at $596.09 on Wednesday. The company has a 50-day simple moving average of $594.43 and a 200-day simple moving average of $519.57. The company has a quick ratio of 1.96, a current ratio of 2.21 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $161.01 billion, a PE ratio of 33.60, a P/E/G ratio of 2.11 and a beta of 0.98. Deere & Company has a 52-week low of $433.00 and a 52-week high of $674.19.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, February 19th. The industrial products company reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.52. Deere & Company had a net margin of 10.29% and a return on equity of 18.93%. The business had revenue of $9.61 billion during the quarter, compared to the consensus estimate of $7.50 billion. During the same quarter last year, the firm posted $3.19 EPS. The business’s revenue was up 17.5% compared to the same quarter last year. Equities research analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.1%. The ex-dividend date is Tuesday, March 31st. Deere & Company’s dividend payout ratio (DPR) is 36.53%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on DE shares. Truist Financial increased their price target on shares of Deere & Company from $612.00 to $793.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Royal Bank Of Canada increased their price target on shares of Deere & Company from $541.00 to $736.00 and gave the stock an “outperform” rating in a research note on Friday, February 20th. Oppenheimer restated an “outperform” rating and set a $715.00 price objective on shares of Deere & Company in a research report on Friday, February 20th. UBS Group upped their price objective on shares of Deere & Company from $535.00 to $775.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Finally, Citigroup cut their price target on shares of Deere & Company from $675.00 to $625.00 and set a “neutral” rating for the company in a report on Monday, March 9th. Sixteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Deere & Company presently has a consensus rating of “Moderate Buy” and an average target price of $655.45.

About Deere & Company

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.