Robertson Stephens Wealth Management LLC Sells 269 Shares of Deere & Company (NYSE:DE)

Robertson Stephens Wealth Management LLC lessened its stake in Deere & Company (NYSE:DE) by 25.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 793 shares of the industrial products company’s stock after selling 269 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in Deere & Company were worth $318,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Wilbanks Smith & Thomas Asset Management LLC boosted its stake in Deere & Company by 2.7% in the fourth quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 6,679 shares of the industrial products company’s stock worth $2,671,000 after buying an additional 176 shares in the last quarter. Rogco LP boosted its stake in shares of Deere & Company by 250.2% in the 4th quarter. Rogco LP now owns 802 shares of the industrial products company’s stock valued at $321,000 after purchasing an additional 573 shares in the last quarter. Tower View Wealth Management LLC grew its holdings in shares of Deere & Company by 1.6% during the 4th quarter. Tower View Wealth Management LLC now owns 12,051 shares of the industrial products company’s stock valued at $4,819,000 after purchasing an additional 185 shares during the last quarter. First Trust Direct Indexing L.P. raised its position in Deere & Company by 7.0% in the 4th quarter. First Trust Direct Indexing L.P. now owns 5,476 shares of the industrial products company’s stock worth $2,190,000 after purchasing an additional 357 shares during the period. Finally, Summit Financial LLC lifted its stake in Deere & Company by 4.9% in the fourth quarter. Summit Financial LLC now owns 3,524 shares of the industrial products company’s stock worth $1,414,000 after purchasing an additional 166 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

DE has been the topic of several analyst reports. Citigroup decreased their price objective on Deere & Company from $450.00 to $435.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Melius Research reiterated a “hold” rating on shares of Deere & Company in a research report on Monday, January 8th. Melius downgraded shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Truist Financial initiated coverage on shares of Deere & Company in a research report on Thursday, March 14th. They set a “buy” rating and a $494.00 price target for the company. Finally, Evercore ISI lifted their price objective on Deere & Company from $381.00 to $387.00 and gave the stock an “in-line” rating in a research report on Tuesday, February 20th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $433.28.

Deere & Company Trading Up 1.2 %

Deere & Company stock opened at $400.87 on Friday. Deere & Company has a 12 month low of $345.55 and a 12 month high of $450.00. The company has a market capitalization of $111.59 billion, a price-to-earnings ratio of 11.67, a price-to-earnings-growth ratio of 1.49 and a beta of 1.04. The business’s fifty day simple moving average is $390.73 and its two-hundred day simple moving average is $383.84. 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 (NYSE:DE) last posted its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.19 by $1.04. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The firm had revenue of $10.49 billion during the quarter, compared to analyst estimates of $10.30 billion. During the same quarter in the previous year, the firm earned $6.55 EPS. Deere & Company’s quarterly revenue was down 8.0% compared to the same quarter last year. As a group, equities analysts predict that Deere & Company will post 27.37 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

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

About Deere & Company

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.