Kaydan Wealth Management Inc. Decreases Holdings in Deere & Company (NYSE:DE)

Kaydan Wealth Management Inc. lowered its stake in Deere & Company (NYSE:DE) by 15.1% in the 4th quarter, HoldingsChannel reports. The fund owned 689 shares of the industrial products company’s stock after selling 123 shares during the period. Kaydan Wealth Management Inc.’s holdings in Deere & Company were worth $292,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Mattern Wealth Management LLC boosted its stake in shares of Deere & Company by 1.3% during the 3rd quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock worth $786,000 after purchasing an additional 25 shares during the period. Carret Asset Management LLC boosted its position in shares of Deere & Company by 0.3% during the third quarter. Carret Asset Management LLC now owns 8,148 shares of the industrial products company’s stock valued at $3,401,000 after buying an additional 25 shares during the period. Round Rock Advisors LLC grew its stake in shares of Deere & Company by 2.0% during the third quarter. Round Rock Advisors LLC now owns 1,252 shares of the industrial products company’s stock valued at $522,000 after buying an additional 25 shares during the last quarter. Douglas Lane & Associates LLC raised its holdings in shares of Deere & Company by 4.7% in the fourth quarter. Douglas Lane & Associates LLC now owns 557 shares of the industrial products company’s stock worth $236,000 after buying an additional 25 shares during the period. Finally, Centaurus Financial Inc. lifted its stake in shares of Deere & Company by 2.3% during the 2nd quarter. Centaurus Financial Inc. now owns 1,160 shares of the industrial products company’s stock worth $433,000 after acquiring an additional 26 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Trading Up 4.0 %

Shares of NYSE:DE opened at $456.57 on Monday. The business’s 50-day moving average is $431.48 and its 200 day moving average is $402.25. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. Deere & Company has a 1 year low of $340.20 and a 1 year high of $469.39. The firm has a market capitalization of $124.35 billion, a P/E ratio of 17.83, a P/E/G ratio of 1.74 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. 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 revenue for the quarter was down 32.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $8.26 earnings per share. On average, research analysts predict that Deere & Company will post 19.57 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. Stockholders 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 dividend yield of 1.42%. The ex-dividend date is Tuesday, December 31st. Deere & Company’s payout ratio is presently 25.31%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on DE. Barclays increased their target price on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Citigroup decreased their price objective on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a report on Tuesday, January 14th. UBS Group upped their target price on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Truist Financial boosted their price target on Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Finally, JPMorgan Chase & Co. raised their price objective on Deere & Company from $450.00 to $470.00 and gave the stock a “neutral” rating in a report on Wednesday, January 15th. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average 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.