Raab & Moskowitz Asset Management LLC Trims Stock Holdings in Deere & Company (NYSE:DE)

Raab & Moskowitz Asset Management LLC lowered its position in Deere & Company (NYSE:DE) by 15.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 680 shares of the industrial products company’s stock after selling 126 shares during the period. Raab & Moskowitz Asset Management LLC’s holdings in Deere & Company were worth $272,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DE. Aaron Wealth Advisors LLC grew its holdings in Deere & Company by 3.5% during the third quarter. Aaron Wealth Advisors LLC now owns 1,138 shares of the industrial products company’s stock worth $429,000 after acquiring an additional 38 shares during the period. Handelsbanken Fonder AB grew its holdings in Deere & Company by 3.1% during the third quarter. Handelsbanken Fonder AB now owns 94,542 shares of the industrial products company’s stock worth $35,678,000 after acquiring an additional 2,845 shares during the period. Connecticut Wealth Management LLC grew its holdings in Deere & Company by 14.2% during the third quarter. Connecticut Wealth Management LLC now owns 2,223 shares of the industrial products company’s stock worth $839,000 after acquiring an additional 276 shares during the period. Ropes Wealth Advisors LLC grew its holdings in Deere & Company by 2.2% during the third quarter. Ropes Wealth Advisors LLC now owns 6,371 shares of the industrial products company’s stock worth $2,404,000 after acquiring an additional 138 shares during the period. Finally, Accel Wealth Management grew its holdings in Deere & Company by 0.9% during the third quarter. Accel Wealth Management now owns 6,810 shares of the industrial products company’s stock worth $2,570,000 after acquiring an additional 60 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Down 0.2 %

NYSE DE traded down $0.73 during trading hours on Friday, hitting $393.33. 998,338 shares of the company’s stock were exchanged, compared to its average volume of 1,243,125. The business’s 50 day moving average is $387.86 and its 200-day moving average is $383.61. Deere & Company has a 12-month low of $345.55 and a 12-month high of $450.00. The firm has a market capitalization of $109.49 billion, a P/E ratio of 11.45, a price-to-earnings-growth ratio of 1.48 and a beta of 1.04. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.81 and a current ratio of 2.05.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, topping analysts’ consensus estimates of $5.19 by $1.04. The company had revenue of $10.49 billion for the quarter, compared to the consensus estimate of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The company’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same period last year, the business posted $6.55 EPS. As a group, analysts anticipate that Deere & Company will post 27.37 EPS for the current fiscal year.

Deere & Company Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft dropped their price objective on Deere & Company from $425.00 to $401.00 and set a “hold” rating on the stock in a report on Friday, February 16th. JPMorgan Chase & Co. upped their target price on Deere & Company from $415.00 to $425.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Citigroup lowered their target price on Deere & Company from $450.00 to $435.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Truist Financial initiated coverage on Deere & Company in a report on Thursday, March 14th. They issued a “buy” rating and a $494.00 target price on the stock. Finally, Morgan Stanley initiated coverage on Deere & Company in a report on Monday, January 8th. They issued an “overweight” rating and a $430.00 target price on the stock. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Deere & Company presently has an average rating of “Hold” and an average price target of $433.28.

Deere & Company Profile

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.