Savant Capital LLC Lowers Stock Position in Deere & Company (NYSE:DE)

Savant Capital LLC reduced its stake in shares of Deere & Company (NYSE:DE) by 4.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,202 shares of the industrial products company’s stock after selling 720 shares during the period. Savant Capital LLC’s holdings in Deere & Company were worth $6,017,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in DE. Sound Income Strategies LLC lifted its holdings in Deere & Company by 28.9% in the 3rd quarter. Sound Income Strategies LLC now owns 687 shares of the industrial products company’s stock worth $287,000 after purchasing an additional 154 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new position in Deere & Company in the 3rd quarter worth approximately $177,000. High Net Worth Advisory Group LLC purchased a new position in Deere & Company in the 3rd quarter worth approximately $217,000. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Deere & Company by 75.6% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 971 shares of the industrial products company’s stock worth $405,000 after purchasing an additional 418 shares in the last quarter. Finally, ORG Wealth Partners LLC purchased a new position in Deere & Company in the 3rd quarter worth approximately $55,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DE has been the topic of a number of research analyst reports. Morgan Stanley boosted their price target on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. UBS Group lifted their price objective on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Jefferies Financial Group downgraded Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective on the stock. in a research note on Friday, December 6th. Truist Financial lifted their price objective on Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, JPMorgan Chase & Co. lifted their price objective on Deere & Company from $470.00 to $500.00 and gave the stock a “neutral” rating in a research note on Monday. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $446.17.

Deere & Company Stock Performance

NYSE DE opened at $470.22 on Tuesday. The company has a market cap of $128.06 billion, a P/E ratio of 18.37, a P/E/G ratio of 2.87 and a beta of 0.98. 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 business’s 50 day moving average price is $445.00 and its 200-day moving average price is $413.46. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $485.84.

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. The company had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. Deere & Company’s quarterly revenue was down 32.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $8.26 EPS. Sell-side analysts predict that Deere & Company will post 19.38 earnings per share for the current year.

Deere & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st were given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.38%. The ex-dividend date was Tuesday, December 31st. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio 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.