WealthTrust Axiom LLC Lowers Stock Position in Deere & Company (NYSE:DE)

WealthTrust Axiom LLC lessened its holdings in Deere & Company (NYSE:DE) by 5.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 637 shares of the industrial products company’s stock after selling 35 shares during the quarter. WealthTrust Axiom LLC’s holdings in Deere & Company were worth $255,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Penobscot Investment Management Company Inc. lifted its position in shares of Deere & Company by 18.7% in the 4th quarter. Penobscot Investment Management Company Inc. now owns 10,525 shares of the industrial products company’s stock worth $4,209,000 after purchasing an additional 1,660 shares during the period. Field & Main Bank raised its stake in shares of Deere & Company by 1.3% during the 4th quarter. Field & Main Bank now owns 4,023 shares of the industrial products company’s stock worth $1,609,000 after acquiring an additional 50 shares in the last quarter. Kestra Private Wealth Services LLC raised its stake in shares of Deere & Company by 2.0% during the 4th quarter. Kestra Private Wealth Services LLC now owns 10,169 shares of the industrial products company’s stock worth $4,066,000 after acquiring an additional 202 shares in the last quarter. Steele Capital Management Inc. bought a new position in shares of Deere & Company during the 4th quarter worth approximately $3,937,000. Finally, Guyasuta Investment Advisors Inc. raised its stake in shares of Deere & Company by 1.3% during the 4th quarter. Guyasuta Investment Advisors Inc. now owns 2,416 shares of the industrial products company’s stock worth $966,000 after acquiring an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on DE shares. Melius Research reiterated a “hold” rating on shares of Deere & Company in a research note on Monday, January 8th. Morgan Stanley started coverage on shares of Deere & Company in a research note on Monday, January 8th. They set an “overweight” rating and a $430.00 price objective for the company. Stifel Nicolaus reduced their price objective on shares of 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 price target on shares of Deere & Company from $450.00 to $435.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. Finally, Truist Financial began coverage on shares of Deere & Company in a research note on Thursday, March 14th. They set a “buy” rating and a $494.00 price target on the stock. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $433.28.

Deere & Company Stock Down 2.4 %

Shares of NYSE DE opened at $391.41 on Wednesday. The company’s 50-day simple moving average is $389.34 and its 200-day simple moving average is $383.73. Deere & Company has a 52-week low of $345.55 and a 52-week high of $450.00. The firm has a market cap of $108.95 billion, a price-to-earnings ratio of 11.40, a price-to-earnings-growth ratio of 1.51 and a beta of 1.04. The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 1.81.

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

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th will be given a $1.47 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $5.88 annualized dividend and a dividend yield of 1.50%. Deere & Company’s dividend payout ratio (DPR) is 17.12%.

Deere & Company 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.