Mainsail Financial Group LLC Decreases Stock Position in Deere & Company (NYSE:DE)

Mainsail Financial Group LLC trimmed its holdings in shares of Deere & Company (NYSE:DE) by 0.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,406 shares of the industrial products company’s stock after selling 26 shares during the period. Deere & Company makes up about 0.8% of Mainsail Financial Group LLC’s investment portfolio, making the stock its 28th largest holding. Mainsail Financial Group LLC’s holdings in Deere & Company were worth $1,443,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. BLB&B Advisors LLC lifted its holdings in shares of Deere & Company by 2.2% during the fourth quarter. BLB&B Advisors LLC now owns 27,909 shares of the industrial products company’s stock valued at $11,825,000 after purchasing an additional 606 shares in the last quarter. Golden State Wealth Management LLC bought a new position in Deere & Company during the 4th quarter valued at about $247,000. Prairie Wealth Advisors Inc. boosted its holdings in shares of Deere & Company by 3.8% during the 4th quarter. Prairie Wealth Advisors Inc. now owns 964 shares of the industrial products company’s stock valued at $410,000 after acquiring an additional 35 shares during the last quarter. Fairvoy Private Wealth LLC bought a new stake in shares of Deere & Company in the fourth quarter worth approximately $802,000. Finally, Keystone Financial Group Inc. purchased a new position in shares of Deere & Company during the fourth quarter valued at approximately $129,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Up 0.1 %

Shares of DE opened at $465.63 on Friday. Deere & Company has a 12-month low of $340.20 and a 12-month high of $485.84. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89. The company has a market capitalization of $126.82 billion, a PE ratio of 18.19, a price-to-earnings-growth ratio of 2.94 and a beta of 0.98. The business’s 50 day moving average is $445.01 and its 200 day moving average is $412.26.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping the consensus estimate of $3.89 by $0.66. The firm had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The company’s quarterly revenue was down 32.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $8.26 earnings per share. Research analysts expect that Deere & Company will post 19.38 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The business also recently disclosed 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 dividend yield of 1.39%. The ex-dividend date is Tuesday, December 31st. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio is 25.31%.

Analyst Upgrades and Downgrades

A number of research firms have commented on DE. Citigroup cut their target price on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Oppenheimer lifted their price objective on Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Barclays raised their target price on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Jefferies Financial Group lowered 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. Finally, Morgan Stanley raised their price objective on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $444.50.

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.