Olstein Capital Management L.P. Has $6.67 Million Holdings in Deere & Company (NYSE:DE)

Olstein Capital Management L.P. decreased its holdings in Deere & Company (NYSE:DE) by 23.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,750 shares of the industrial products company’s stock after selling 4,750 shares during the quarter. Olstein Capital Management L.P.’s holdings in Deere & Company were worth $6,673,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in DE. Livelsberger Financial Advisory purchased a new stake in Deere & Company in the 3rd quarter valued at about $32,000. Modus Advisors LLC bought a new position in shares of Deere & Company in the fourth quarter valued at approximately $32,000. Centennial Bank AR increased its position in shares of Deere & Company by 420.0% during the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 84 shares during the last quarter. Continuum Advisory LLC lifted its holdings in Deere & Company by 155.8% during 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 period. Finally, Darwin Wealth Management LLC purchased a new position in Deere & Company in the third quarter worth $47,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Price Performance

DE stock opened at $478.90 on Friday. The firm has a 50 day moving average of $438.55 and a 200-day moving average of $405.66. The firm has a market capitalization of $130.43 billion, a P/E ratio of 18.71, a price-to-earnings-growth ratio of 2.84 and a beta of 0.98. Deere & Company has a 12 month low of $340.20 and a 12 month high of $479.48. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89.

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

Deere & Company Increases Dividend

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on DE. UBS Group raised their target price on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Truist Financial raised their price objective on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Citigroup dropped their target price on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Jefferies Financial Group lowered shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target for the company. in a research note on Friday, December 6th. Finally, Oppenheimer upped their price objective on Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $442.83.

About Deere & Company

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.