Deere & Company (NYSE:DE) Shares Sold by Yousif Capital Management LLC

Yousif Capital Management LLC cut its position in Deere & Company (NYSE:DE) by 8.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 39,524 shares of the industrial products company’s stock after selling 3,847 shares during the quarter. Yousif Capital Management LLC’s holdings in Deere & Company were worth $15,804,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Summit Global Investments acquired a new stake in Deere & Company during the 3rd quarter worth approximately $201,000. Capital Investment Advisors LLC acquired a new stake in Deere & Company during the 3rd quarter worth approximately $1,491,000. Avior Wealth Management LLC lifted its position in Deere & Company by 2.9% during the 3rd quarter. Avior Wealth Management LLC now owns 4,052 shares of the industrial products company’s stock worth $1,529,000 after acquiring an additional 114 shares during the period. Newbridge Financial Services Group Inc. lifted its position in Deere & Company by 10.9% during the 3rd quarter. Newbridge Financial Services Group Inc. now owns 335 shares of the industrial products company’s stock worth $127,000 after acquiring an additional 33 shares during the period. Finally, Royal Fund Management LLC lifted its position in Deere & Company by 16.8% during the 3rd quarter. Royal Fund Management LLC now owns 3,262 shares of the industrial products company’s stock worth $1,231,000 after acquiring an additional 470 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Down 0.4 %

DE traded down $1.63 during trading hours on Wednesday, reaching $395.58. 576,071 shares of the stock traded hands, compared to its average volume of 1,475,141. Deere & Company has a fifty-two week low of $345.55 and a fifty-two week high of $450.00. The company has a market cap of $110.11 billion, a price-to-earnings ratio of 11.50, a PEG ratio of 1.50 and a beta of 1.04. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.05 and a quick ratio of 1.81. The firm’s fifty day simple moving average is $386.42 and its two-hundred day simple moving average is $383.39.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, beating the consensus estimate of $5.19 by $1.04. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The company had revenue of $10.49 billion during the quarter, compared to the consensus estimate of $10.30 billion. During the same period last year, the firm earned $6.55 earnings per share. The company’s revenue was down 8.0% on a year-over-year basis. As a group, analysts forecast that Deere & Company will post 27.37 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th will be paid a dividend of $1.47 per share. The ex-dividend date is Wednesday, March 27th. This represents a $5.88 dividend on an annualized basis and a yield of 1.49%. Deere & Company’s dividend payout ratio (DPR) is presently 17.12%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Stifel Nicolaus decreased their price objective on Deere & Company from $435.00 to $425.00 and set a “buy” rating for the company in a research report on Friday, February 16th. Melius downgraded Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Truist Financial assumed coverage on Deere & Company in a research note on Thursday, March 14th. They set a “buy” rating and a $494.00 target price for the company. Evercore ISI increased their target price on Deere & Company from $381.00 to $387.00 and gave the stock an “in-line” rating in a research note on Tuesday, February 20th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Deere & Company from $425.00 to $401.00 and set a “hold” rating for the company in a research note on Friday, February 16th. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $433.28.

About Deere & Company

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.