Dynamic Advisor Solutions LLC Cuts Position in Deere & Company (NYSE:DE)

Dynamic Advisor Solutions LLC reduced its holdings in shares of Deere & Company (NYSE:DE) by 3.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,389 shares of the industrial products company’s stock after selling 349 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in Deere & Company were worth $4,826,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in DE. Livelsberger Financial Advisory purchased a new stake in shares of Deere & Company during the third quarter worth about $32,000. Modus Advisors LLC acquired a new stake in shares of Deere & Company during the 4th quarter valued at approximately $32,000. Centennial Bank AR lifted its position in shares of Deere & Company by 420.0% in the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after buying an additional 84 shares during the last quarter. Continuum Advisory LLC lifted its holdings in Deere & Company by 155.8% in the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 67 shares during the last quarter. Finally, Darwin Wealth Management LLC bought a new stake in shares of Deere & Company in the 3rd quarter worth approximately $47,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Oppenheimer raised their price target on shares of Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Barclays lifted their target price on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. raised their price target on Deere & Company from $450.00 to $470.00 and gave the company a “neutral” rating in a report on Wednesday, January 15th. Morgan Stanley upped their price objective on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Finally, Truist Financial boosted their price target on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Eleven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $442.83.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $478.90 on Friday. Deere & Company has a 12 month low of $340.20 and a 12 month high of $479.48. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. The stock has a market cap of $130.43 billion, a PE ratio of 18.71, a price-to-earnings-growth ratio of 2.84 and a beta of 0.98. The business has a fifty day simple moving average of $438.55 and a 200-day simple moving average of $405.66.

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

Deere & Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $1.62 per share. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a dividend yield of 1.35%. The ex-dividend date is Tuesday, December 31st. Deere & Company’s payout ratio is currently 25.31%.

Deere & 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.