New Century Financial Group LLC Decreases Position in Deere & Company (NYSE:DE)

New Century Financial Group LLC reduced its position in shares of Deere & Company (NYSE:DE) by 7.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,337 shares of the industrial products company’s stock after selling 183 shares during the period. New Century Financial Group LLC’s holdings in Deere & Company were worth $987,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Livelsberger Financial Advisory purchased a new stake in shares of Deere & Company during the third quarter worth approximately $32,000. Modus Advisors LLC acquired a new stake in Deere & Company during the 4th quarter worth $32,000. Centennial Bank AR grew its holdings in shares of Deere & Company by 420.0% during the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after buying an additional 84 shares in the last quarter. Continuum Advisory LLC grew its holdings in shares of Deere & Company by 155.8% during the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after buying an additional 67 shares in the last quarter. Finally, Darwin Wealth Management LLC acquired a new stake in shares of Deere & Company in the third quarter valued at about $47,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analysts Set New Price Targets

DE has been the topic of a number of recent research reports. Truist Financial boosted their price target on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Morgan Stanley boosted their target price on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Citigroup cut their price target on Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. Jefferies Financial Group lowered Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective on the stock. in a research note on Friday, December 6th. Finally, Oppenheimer lifted their price target on Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $442.83.

Deere & Company Stock Up 3.4 %

Shares of NYSE DE opened at $475.22 on Friday. 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 business’s 50 day moving average is $435.34 and its two-hundred day moving average is $404.30. Deere & Company has a 52-week low of $340.20 and a 52-week high of $475.92. The firm has a market cap of $129.43 billion, a price-to-earnings ratio of 18.56, a PEG ratio of 2.86 and a beta of 0.98.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The firm had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. During the same quarter in the previous year, the business earned $8.26 EPS. The company’s quarterly revenue was down 32.8% compared to the same quarter last year. Research analysts predict that Deere & Company will post 19.34 EPS for the current year.

Deere & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be paid a $1.62 dividend. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.36%. Deere & Company’s dividend payout ratio (DPR) is presently 25.31%.

Deere & Company Profile

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.