Deere & Company (NYSE:DE) Shares Sold by Gilman Hill Asset Management LLC

Gilman Hill Asset Management LLC cut its position in Deere & Company (NYSE:DE) by 1.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,412 shares of the industrial products company’s stock after selling 30 shares during the period. Gilman Hill Asset Management LLC’s holdings in Deere & Company were worth $1,022,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Everence Capital Management Inc. boosted its stake in shares of Deere & Company by 148.3% in the fourth quarter. Everence Capital Management Inc. now owns 12,223 shares of the industrial products company’s stock worth $5,179,000 after acquiring an additional 7,300 shares during the last quarter. Stockbridge Partners LLC boosted its stake in shares of Deere & Company by 157.5% in the third quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock worth $369,019,000 after acquiring an additional 540,874 shares during the last quarter. Toronto Dominion Bank boosted its stake in shares of Deere & Company by 1.5% in the third quarter. Toronto Dominion Bank now owns 86,952 shares of the industrial products company’s stock worth $36,288,000 after acquiring an additional 1,291 shares during the last quarter. Chase Investment Counsel Corp boosted its stake in shares of Deere & Company by 53.8% in the third quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock worth $1,669,000 after acquiring an additional 1,400 shares during the last quarter. Finally, Czech National Bank boosted its stake in Deere & Company by 5.7% during the fourth quarter. Czech National Bank now owns 55,170 shares of the industrial products company’s stock worth $23,376,000 after buying an additional 2,964 shares during the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Price Performance

Shares of NYSE:DE opened at $456.57 on Monday. The company’s fifty day moving average is $431.48 and its two-hundred day moving average is $402.25. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. Deere & Company has a 12-month low of $340.20 and a 12-month high of $469.39. The company has a market cap of $124.35 billion, a P/E ratio of 17.83, a price-to-earnings-growth ratio of 1.74 and a beta of 0.98.

Deere & Company (NYSE:DE) last announced its earnings results 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 net margin of 13.73% and a return on equity of 31.32%. The company had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. During the same period in the previous year, the business earned $8.26 EPS. The company’s revenue was down 32.8% on a year-over-year basis. Equities analysts expect that Deere & Company will post 19.57 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have commented on DE shares. Morgan Stanley lifted their target price on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Truist Financial increased their target price on Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Barclays raised their price objective on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Citigroup decreased their price objective on Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Finally, Oppenheimer boosted their price target on Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Deere & Company currently has a consensus rating of “Hold” and a consensus price target of $442.83.

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.