Hixon Zuercher LLC Sells 1,140 Shares of Deere & Company (NYSE:DE)

Hixon Zuercher LLC decreased its holdings in shares of Deere & Company (NYSE:DE) by 23.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,730 shares of the industrial products company’s stock after selling 1,140 shares during the quarter. Hixon Zuercher LLC’s holdings in Deere & Company were worth $1,580,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Livelsberger Financial Advisory bought a new stake in shares of Deere & Company during the third quarter valued at approximately $32,000. Modus Advisors LLC purchased a new position in Deere & Company during the 4th quarter worth $32,000. Synergy Asset Management LLC bought a new stake in Deere & Company during the 4th quarter valued at $35,000. Continuum Advisory LLC lifted its holdings in shares of Deere & Company by 155.8% in the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after buying an additional 67 shares during the period. Finally, Darwin Wealth Management LLC bought a new position in shares of Deere & Company during the 3rd quarter worth $47,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $479.91 on Friday. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. Deere & Company has a 52 week low of $340.20 and a 52 week high of $485.84. The firm has a market capitalization of $130.70 billion, a P/E ratio of 18.75, a PEG ratio of 2.95 and a beta of 0.98. The company has a 50 day moving average price of $443.22 and a 200 day moving average price of $408.60.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.89 by $0.66. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The company had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.20 billion. During the same period last year, the firm posted $8.26 EPS. Deere & Company’s revenue for the quarter was down 32.8% compared to the same quarter last year. Sell-side analysts expect that Deere & Company will post 19.38 EPS for the current year.

Deere & Company Increases Dividend

The company also recently disclosed 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 is Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.35%. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio (DPR) is presently 25.31%.

Analysts Set New Price Targets

DE has been the subject of several recent research reports. Truist Financial lifted their price objective on Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a report on Thursday, December 19th. 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 report on Friday, December 6th. Citigroup dropped their price objective 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. Morgan Stanley boosted their price objective on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Finally, Oppenheimer increased their target price on Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research report on Tuesday. Eleven equities research 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, Deere & Company has an average rating of “Hold” and a consensus target price of $444.50.

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.