Perkins Coie Trust Co Sells 409 Shares of Deere & Company (NYSE:DE)

Perkins Coie Trust Co lessened its position in Deere & Company (NYSE:DE) by 73.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 149 shares of the industrial products company’s stock after selling 409 shares during the quarter. Perkins Coie Trust Co’s holdings in Deere & Company were worth $63,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DE. Fairscale Capital LLC bought a new position in shares of Deere & Company during the second quarter valued at approximately $26,000. Modus Advisors LLC bought a new stake in shares of Deere & Company in the 4th quarter worth approximately $32,000. Livelsberger Financial Advisory purchased a new stake in shares of Deere & Company in the 3rd quarter worth approximately $32,000. Centennial Bank AR increased its position in Deere & Company by 420.0% during the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after buying an additional 84 shares in the last quarter. Finally, Continuum Advisory LLC raised its stake in Deere & Company by 155.8% during the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock valued at $43,000 after buying an additional 67 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Price Performance

Shares of NYSE:DE opened at $456.57 on Friday. The firm’s 50 day moving average price is $431.48 and its 200-day moving average price is $401.99. 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 stock has a market capitalization of $124.00 billion, a PE ratio of 17.83, a price-to-earnings-growth ratio of 1.74 and a beta of 0.98. Deere & Company has a twelve month low of $340.20 and a twelve month high of $469.39.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, topping the consensus estimate of $3.89 by $0.66. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The business had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.20 billion. During the same quarter last year, the company posted $8.26 EPS. The company’s revenue was down 32.8% compared to the same quarter last year. Equities research analysts expect that Deere & Company will post 19.57 EPS for the current year.

Deere & Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.42%. The ex-dividend date is Tuesday, December 31st. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s payout ratio is currently 25.31%.

Wall Street Analyst Weigh In

DE has been the topic of a number of recent research reports. UBS Group increased their target price on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Citigroup cut 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. Truist Financial raised their price objective on shares of Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Barclays upped their target price on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Finally, Jefferies Financial Group downgraded shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target for the company. in a research report on Friday, December 6th. Eleven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $442.83.

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.