Private Advisor Group LLC Sells 5,056 Shares of Deere & Company (NYSE:DE)

Private Advisor Group LLC lowered its stake in Deere & Company (NYSE:DE) by 8.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 53,954 shares of the industrial products company’s stock after selling 5,056 shares during the period. Private Advisor Group LLC’s holdings in Deere & Company were worth $21,575,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pinnacle Associates Ltd. boosted its stake in shares of Deere & Company by 21.3% during the fourth quarter. Pinnacle Associates Ltd. now owns 5,355 shares of the industrial products company’s stock valued at $2,141,000 after purchasing an additional 939 shares in the last quarter. Penserra Capital Management LLC lifted its holdings 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 period. New Mexico Educational Retirement Board grew its stake in shares of Deere & Company by 6.9% in the third quarter. New Mexico Educational Retirement Board now owns 14,002 shares of the industrial products company’s stock worth $5,284,000 after purchasing an additional 900 shares during the last quarter. Summit Asset Management LLC raised its position in Deere & Company by 24.1% during the 4th quarter. Summit Asset Management LLC now owns 1,030 shares of the industrial products company’s stock worth $412,000 after purchasing an additional 200 shares during the last quarter. Finally, Centric Wealth Management bought a new stake in shares of Deere & Company in the 3rd quarter valued at about $2,640,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Price Performance

DE traded up $1.00 during trading on Monday, reaching $401.96. The stock had a trading volume of 1,042,525 shares, compared to its average volume of 1,467,164. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.81 and a current ratio of 2.05. The business has a 50-day moving average of $392.23 and a 200-day moving average of $384.02. Deere & Company has a one year low of $345.55 and a one year high of $450.00. The stock has a market cap of $111.89 billion, a PE ratio of 11.71, a PEG ratio of 1.51 and a beta of 1.04.

Deere & Company (NYSE:DE) last issued its 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 business had revenue of $10.49 billion during the quarter, compared to analyst estimates of $10.30 billion. During the same quarter in the prior year, the firm earned $6.55 earnings per share. Deere & Company’s revenue for the quarter was down 8.0% on a year-over-year basis. As a group, equities research analysts anticipate that Deere & Company will post 27.37 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be paid a $1.47 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $5.88 annualized dividend and a dividend yield of 1.46%. Deere & Company’s payout ratio is presently 17.12%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on DE. Truist Financial began coverage on Deere & Company in a research note on Thursday, March 14th. They issued a “buy” rating and a $494.00 price objective on the stock. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Deere & Company from $425.00 to $401.00 and set a “hold” rating for the company in a research note on Friday, February 16th. Morgan Stanley began coverage on Deere & Company in a report on Monday, January 8th. They set an “overweight” rating and a $430.00 price target for the company. Wells Fargo & Company dropped their price objective on Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a research note on Friday, February 16th. Finally, Melius cut Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $433.28.

Deere & 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.