Deere & Company (NYSE:DE) Shares Sold by Patriot Investment Management Group Inc.

Patriot Investment Management Group Inc. lowered its position in Deere & Company (NYSE:DE) by 15.4% during the fourth quarter, HoldingsChannel reports. The firm owned 2,866 shares of the industrial products company’s stock after selling 522 shares during the period. Patriot Investment Management Group Inc.’s holdings in Deere & Company were worth $1,214,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Modus Advisors LLC purchased a new position in Deere & Company in the fourth quarter worth approximately $32,000. Livelsberger Financial Advisory acquired a new position in shares of Deere & Company in the 3rd quarter valued at $32,000. Centennial Bank AR increased its position in shares of Deere & Company by 420.0% during the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 84 shares during the last quarter. Continuum Advisory LLC raised its holdings in Deere & Company by 155.8% in the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock valued at $43,000 after buying an additional 67 shares during the period. Finally, Darwin Wealth Management LLC acquired a new position in Deere & Company in the third quarter valued at about $47,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Performance

NYSE:DE opened at $475.22 on Friday. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89. The company has a market capitalization of $129.43 billion, a P/E ratio of 18.56, a price-to-earnings-growth ratio of 2.84 and a beta of 0.98. The firm has a 50-day moving average price of $435.34 and a two-hundred day moving average price of $404.30. Deere & Company has a twelve month low of $340.20 and a twelve month high of $475.92.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping the consensus estimate of $3.89 by $0.66. The firm had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. Deere & Company’s revenue for the quarter was down 32.8% on a year-over-year basis. During the same period in the previous year, the company earned $8.26 EPS. As a group, research analysts expect that Deere & Company will post 19.34 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $1.62 per share. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a yield of 1.36%. The ex-dividend date is Tuesday, December 31st. Deere & Company’s payout ratio is currently 25.31%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. UBS Group lifted their price target on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Oppenheimer upped their price target on Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Citigroup dropped their price objective on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Truist Financial upped their price objective on Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, 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 report on Friday, December 6th. Eleven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $442.83.

Deere & Company Company Profile

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.