Deere & Company (NYSE:DE) Position Reduced by Leavell Investment Management Inc.

Leavell Investment Management Inc. trimmed its holdings in Deere & Company (NYSE:DE) by 0.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 8,381 shares of the industrial products company’s stock after selling 24 shares during the period. Leavell Investment Management Inc.’s holdings in Deere & Company were worth $3,565,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in DE. Pineridge Advisors LLC lifted its stake in Deere & Company by 60.5% during the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 26 shares during the last quarter. Modus Advisors LLC acquired a new stake in shares of Deere & Company during the 4th quarter valued at $32,000. Livelsberger Financial Advisory acquired a new position in shares of Deere & Company in the 3rd quarter worth $32,000. YANKCOM Partnership acquired a new stake in shares of Deere & Company during the fourth quarter worth $34,000. Finally, Synergy Asset Management LLC purchased a new position in Deere & Company in the 4th quarter worth about $35,000. Institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

DE has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a research note on Monday. Oppenheimer increased their price objective on Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Truist Financial lifted their target price on Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Morgan Stanley increased their price target on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Finally, Citigroup lowered 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. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $446.17.

Deere & Company Trading Up 0.5 %

Shares of DE stock opened at $476.53 on Thursday. Deere & Company has a 12 month low of $340.20 and a 12 month high of $485.84. The company has a market cap of $129.78 billion, a PE ratio of 18.61, a price-to-earnings-growth ratio of 2.87 and a beta of 0.98. 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 business’s 50 day moving average is $445.46 and its two-hundred day moving average is $414.70.

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

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st were issued a $1.62 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.36%. This is a positive change 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.