Cannell & Co. Sells 147 Shares of Deere & Company (NYSE:DE)

Cannell & Co. decreased its holdings in shares of Deere & Company (NYSE:DE) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,060 shares of the industrial products company’s stock after selling 147 shares during the quarter. Cannell & Co.’s holdings in Deere & Company were worth $8,821,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Pinnacle Associates Ltd. lifted its stake in Deere & Company by 21.3% in the fourth quarter. Pinnacle Associates Ltd. now owns 5,355 shares of the industrial products company’s stock worth $2,141,000 after purchasing an additional 939 shares during the last quarter. Penserra Capital Management LLC lifted its position in shares of Deere & Company by 2.4% during the third quarter. Penserra Capital Management LLC now owns 236,696 shares of the industrial products company’s stock worth $89,322,000 after purchasing an additional 5,485 shares during the last quarter. New Mexico Educational Retirement Board boosted its stake in shares of Deere & Company by 6.9% during the third quarter. New Mexico Educational Retirement Board now owns 14,002 shares of the industrial products company’s stock valued at $5,284,000 after purchasing an additional 900 shares during the period. Centric Wealth Management bought a new position in shares of Deere & Company in the third quarter worth about $2,640,000. Finally, Graham Capital Management L.P. increased its stake in Deere & Company by 483.3% in the 3rd quarter. Graham Capital Management L.P. now owns 17,500 shares of the industrial products company’s stock worth $6,604,000 after buying an additional 14,500 shares during the period. Institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on DE shares. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Deere & Company from $425.00 to $401.00 and set a “hold” rating on the stock in a report on Friday, February 16th. Citigroup cut their target price on Deere & Company from $450.00 to $435.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. Stifel Nicolaus cut their target price on Deere & Company from $435.00 to $425.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. Truist Financial initiated coverage on Deere & Company in a report on Thursday, March 14th. They issued a “buy” rating and a $494.00 price target for the company. Finally, Melius downgraded Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $433.28.

Deere & Company Trading Down 1.2 %

NYSE DE traded down $4.72 on Wednesday, reaching $386.69. 678,646 shares of the company were exchanged, compared to its average volume of 1,449,633. The business’s fifty day moving average price is $389.34 and its 200 day moving average price is $383.73. The stock has a market capitalization of $107.64 billion, a P/E ratio of 11.25, a price-to-earnings-growth ratio of 1.51 and a beta of 1.04. The company has a current ratio of 2.05, a quick ratio of 1.81 and a debt-to-equity ratio of 1.81. Deere & Company has a fifty-two week low of $345.55 and a fifty-two week high of $450.00.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, topping analysts’ consensus estimates of $5.19 by $1.04. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The company had revenue of $10.49 billion for the quarter, compared to analyst estimates of $10.30 billion. During the same quarter in the previous year, the company posted $6.55 earnings per share. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year. Analysts forecast that Deere & Company will post 27.37 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th will be issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend is Wednesday, March 27th. Deere & Company’s dividend payout ratio is presently 17.12%.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.