Deere & Company (NYSE:DE) Shares Sold by Twin Capital Management Inc.

Twin Capital Management Inc. cut its holdings in shares of Deere & Company (NYSE:DE) by 58.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,168 shares of the industrial products company’s stock after selling 4,509 shares during the quarter. Twin Capital Management Inc.’s holdings in Deere & Company were worth $1,267,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Briaud Financial Planning Inc acquired a new stake in Deere & Company during the 3rd quarter worth approximately $25,000. Retirement Group LLC lifted its holdings in Deere & Company by 264.7% during the 2nd quarter. Retirement Group LLC now owns 62 shares of the industrial products company’s stock worth $25,000 after buying an additional 45 shares in the last quarter. ZRC Wealth Management LLC acquired a new stake in Deere & Company during the 4th quarter worth approximately $28,000. Rakuten Securities Inc. acquired a new stake in Deere & Company during the 4th quarter worth approximately $28,000. Finally, Worth Asset Management LLC acquired a new stake in Deere & Company during the 1st quarter worth approximately $28,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Up 1.0 %

DE stock opened at $400.87 on Friday. Deere & Company has a one year low of $345.55 and a one year high of $450.00. The stock has a market capitalization of $111.59 billion, a PE ratio of 11.67, a price-to-earnings-growth ratio of 1.49 and a beta of 1.04. 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 company has a fifty day moving average of $385.47 and a 200-day moving average of $382.79.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, topping the consensus estimate of $5.19 by $1.04. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The company had revenue of $10.49 billion during the quarter, compared to analysts’ expectations of $10.30 billion. During the same quarter last year, the business earned $6.55 EPS. The business’s revenue was down 8.0% on a year-over-year basis. As a group, analysts expect that Deere & Company will post 27.39 EPS for the current year.

Deere & Company Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on DE shares. Evercore ISI raised their price objective on shares of Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a report on Tuesday, February 20th. Melius Research restated a “hold” rating on shares of Deere & Company in a report on Monday, January 8th. JPMorgan Chase & Co. raised their price objective on shares of Deere & Company from $415.00 to $425.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Truist Financial started coverage on shares of Deere & Company in a report on Thursday, March 14th. They issued a “buy” rating and a $494.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective 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. Ten 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 currently has an average rating of “Hold” and a consensus target price of $433.28.

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.