Byrne Asset Management LLC Sells 233 Shares of Deere & Company (NYSE:DE)

Byrne Asset Management LLC reduced its stake in Deere & Company (NYSE:DE) by 8.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,584 shares of the industrial products company’s stock after selling 233 shares during the quarter. Byrne Asset Management LLC’s holdings in Deere & Company were worth $1,095,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of DE. Wedmont Private Capital raised its stake in Deere & Company by 3.1% during the third quarter. Wedmont Private Capital now owns 2,573 shares of the industrial products company’s stock valued at $1,045,000 after purchasing an additional 78 shares in the last quarter. Quotient Wealth Partners LLC increased its holdings in shares of Deere & Company by 3.5% in the 3rd quarter. Quotient Wealth Partners LLC now owns 892 shares of the industrial products company’s stock worth $372,000 after buying an additional 30 shares during the last quarter. Pinnacle Bancorp Inc. lifted its holdings in shares of Deere & Company by 5.1% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 817 shares of the industrial products company’s stock valued at $341,000 after acquiring an additional 40 shares during the last quarter. BWM Planning LLC bought a new stake in Deere & Company during the third quarter worth approximately $273,000. Finally, Strong Tower Advisory Services raised its position in Deere & Company by 9.6% during the third quarter. Strong Tower Advisory Services now owns 12,267 shares of the industrial products company’s stock valued at $5,119,000 after purchasing an additional 1,073 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on DE shares. Oppenheimer boosted 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, January 28th. Barclays boosted their price objective on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Morgan Stanley lifted their price target 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. Citigroup reduced 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 report on Tuesday, January 14th. Finally, Truist Financial boosted their target price on Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $444.50.

Deere & Company Stock Up 0.1 %

NYSE:DE opened at $465.63 on Friday. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. Deere & Company has a 1-year low of $340.20 and a 1-year high of $485.84. The company has a 50-day moving average of $445.01 and a 200 day moving average of $412.26. The firm has a market cap of $126.82 billion, a PE ratio of 18.19, a price-to-earnings-growth ratio of 2.94 and a beta of 0.98.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share 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%. The company’s revenue was down 32.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $8.26 EPS. As a group, research analysts anticipate that Deere & Company will post 19.38 EPS for the current fiscal year.

Deere & Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.39%. The ex-dividend date is Tuesday, December 31st. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio (DPR) is 25.31%.

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.