Birchcreek Wealth Management LLC Sells 188 Shares of Deere & Company (NYSE:DE)

Birchcreek Wealth Management LLC cut its stake in Deere & Company (NYSE:DE) by 22.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 652 shares of the industrial products company’s stock after selling 188 shares during the quarter. Birchcreek Wealth Management LLC’s holdings in Deere & Company were worth $261,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Briaud Financial Planning Inc bought a new stake in shares of Deere & Company in the 3rd quarter valued at about $25,000. Rakuten Securities Inc. acquired a new stake in Deere & Company in the fourth quarter valued at about $28,000. Naples Money Management LLC bought a new position in shares of Deere & Company in the 4th quarter valued at $29,000. Bfsg LLC acquired a new position in shares of Deere & Company in the fourth quarter valued at approximately $30,000. Finally, ZRC Wealth Management LLC bought a new position in shares of Deere & Company during the fourth quarter valued at $28,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on DE. Stifel Nicolaus reduced their price objective on Deere & Company from $435.00 to $425.00 and set a “buy” rating for the company in a research note on Friday, February 16th. Citigroup cut their target price on Deere & Company from $450.00 to $435.00 and set a “buy” rating for the company in a research note on Friday, February 16th. Truist Financial initiated coverage on shares of Deere & Company in a research report on Thursday, March 14th. They set a “buy” rating and a $494.00 target price for the company. Evercore ISI lifted their price objective on shares of Deere & Company from $381.00 to $387.00 and gave the stock an “in-line” rating in a report on Tuesday, February 20th. Finally, Morgan Stanley initiated coverage on shares of Deere & Company in a research note on Monday, January 8th. They set an “overweight” rating and a $430.00 price target on the stock. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $433.28.

Deere & Company Stock Up 0.1 %

NYSE DE opened at $401.47 on Tuesday. Deere & Company has a one year low of $345.55 and a one year high of $450.00. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.81 and a current ratio of 2.05. The stock has a 50 day moving average price of $388.66 and a 200-day moving average price of $383.65. The company has a market capitalization of $111.75 billion, a P/E ratio of 11.67, a P/E/G ratio of 1.48 and a beta of 1.04.

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

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th will be issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date is Wednesday, March 27th. Deere & Company’s payout ratio is 17.12%.

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.