Rice Partnership LLC Has $303,000 Position in Deere & Company (NYSE:DE)

Rice Partnership LLC lessened its holdings in Deere & Company (NYSE:DE) by 92.0% in the fourth quarter, HoldingsChannel reports. The fund owned 716 shares of the industrial products company’s stock after selling 8,278 shares during the period. Rice Partnership LLC’s holdings in Deere & Company were worth $303,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of DE. Resonant Capital Advisors LLC lifted its position in Deere & Company by 7.9% during the fourth quarter. Resonant Capital Advisors LLC now owns 531 shares of the industrial products company’s stock worth $226,000 after purchasing an additional 39 shares during the period. Catalina Capital Group LLC lifted its position in Deere & Company by 5.9% during the fourth quarter. Catalina Capital Group LLC now owns 1,109 shares of the industrial products company’s stock worth $470,000 after purchasing an additional 62 shares during the period. Family Investment Center Inc. bought a new stake in Deere & Company during the fourth quarter worth about $206,000. Adamsbrown Wealth Consultants LLC lifted its position in Deere & Company by 4.6% during the fourth quarter. Adamsbrown Wealth Consultants LLC now owns 1,254 shares of the industrial products company’s stock worth $531,000 after purchasing an additional 55 shares during the period. Finally, Western Pacific Wealth Management LP lifted its position in Deere & Company by 50.2% during the fourth quarter. Western Pacific Wealth Management LP now owns 464 shares of the industrial products company’s stock worth $197,000 after purchasing an additional 155 shares during the period. Institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on DE shares. Oppenheimer upped their price objective on shares of Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Morgan Stanley boosted their target price on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Jefferies Financial Group downgraded Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price for the company. in a research note on Friday, December 6th. Citigroup lowered their target price on Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Finally, Barclays upped their price objective on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Deere & Company currently has a consensus rating of “Hold” and an average price target of $444.50.

Deere & Company Trading Down 0.8 %

Shares of DE opened at $476.29 on Monday. The business has a 50-day moving average of $444.68 and a 200 day moving average of $410.23. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $485.84. The firm has a market cap of $129.72 billion, a P/E ratio of 18.61, a price-to-earnings-growth ratio of 2.94 and a beta of 0.98. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09.

Deere & Company (NYSE:DE) last announced its quarterly earnings data 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 return on equity of 31.32% and a net margin of 13.73%. The company had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.20 billion. During the same quarter last year, the firm posted $8.26 EPS. The firm’s revenue for the quarter was down 32.8% on a year-over-year basis. As a group, research analysts forecast that Deere & Company will post 19.38 EPS for the current year.

Deere & Company Increases Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 1.36%. 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 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.