Palisade Asset Management LLC Decreases Stock Position in Deere & Company (NYSE:DE)

Palisade Asset Management LLC cut its holdings in Deere & Company (NYSE:DE) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 38,799 shares of the industrial products company’s stock after selling 297 shares during the quarter. Deere & Company comprises 1.7% of Palisade Asset Management LLC’s holdings, making the stock its 17th largest position. Palisade Asset Management LLC’s holdings in Deere & Company were worth $15,515,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Everhart Financial Group Inc. raised its stake in shares of Deere & Company by 29.6% in the third quarter. Everhart Financial Group Inc. now owns 1,042 shares of the industrial products company’s stock worth $393,000 after purchasing an additional 238 shares during the last quarter. Lindbrook Capital LLC raised its stake in shares of Deere & Company by 64.2% in the third quarter. Lindbrook Capital LLC now owns 706 shares of the industrial products company’s stock worth $266,000 after purchasing an additional 276 shares during the last quarter. Verdence Capital Advisors LLC grew its holdings in Deere & Company by 2.1% during the third quarter. Verdence Capital Advisors LLC now owns 2,840 shares of the industrial products company’s stock worth $1,072,000 after acquiring an additional 59 shares during the period. Brighton Jones LLC grew its holdings in Deere & Company by 4.0% during the third quarter. Brighton Jones LLC now owns 5,258 shares of the industrial products company’s stock worth $1,984,000 after acquiring an additional 203 shares during the period. Finally, Planning Center Inc. grew its holdings in Deere & Company by 4.3% during the third quarter. Planning Center Inc. now owns 15,934 shares of the industrial products company’s stock worth $6,013,000 after acquiring an additional 656 shares during the period. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Trading Down 0.0 %

Deere & Company stock traded down $0.15 during trading on Wednesday, reaching $405.42. 625,057 shares of the company were exchanged, compared to its average volume of 1,449,851. Deere & Company has a 52-week low of $345.55 and a 52-week high of $450.00. The company has a market capitalization of $112.85 billion, a P/E ratio of 11.81, a PEG ratio of 1.51 and a beta of 1.04. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.05 and a quick ratio of 1.81. The stock’s 50 day simple moving average is $393.13 and its two-hundred day simple moving average is $384.23.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, topping analysts’ consensus estimates of $5.19 by $1.04. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The firm had revenue of $10.49 billion for the quarter, compared to the consensus estimate of $10.30 billion. During the same quarter last year, the business posted $6.55 earnings per share. The firm’s revenue was down 8.0% compared to the same quarter last year. On average, equities research analysts expect that Deere & Company will post 27.37 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th will be given a $1.47 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $5.88 dividend on an annualized basis and a yield of 1.45%. Deere & Company’s dividend payout ratio is currently 17.12%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on DE. Truist Financial began coverage on Deere & Company in a report on Thursday, March 14th. They set a “buy” rating and a $494.00 target price on the stock. Evercore ISI raised their target price on Deere & Company from $381.00 to $387.00 and gave the stock an “in-line” rating in a report on Tuesday, February 20th. Deutsche Bank Aktiengesellschaft dropped their target price on Deere & Company from $425.00 to $401.00 and set a “hold” rating on the stock in a report on Friday, February 16th. Citigroup dropped their target price on Deere & Company from $450.00 to $435.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Finally, Stifel Nicolaus dropped their price objective on Deere & Company from $435.00 to $425.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Ten equities research 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 has an average rating of “Hold” and an average target price of $433.28.

Deere & Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.