Deere & Company (NYSE:DE) Shares Sold by Addenda Capital Inc.

Addenda Capital Inc. reduced its stake in shares of Deere & Company (NYSE:DE) by 0.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,985 shares of the industrial products company’s stock after selling 46 shares during the period. Addenda Capital Inc.’s holdings in Deere & Company were worth $6,798,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of DE. Fairscale Capital LLC purchased a new stake in Deere & Company during the 2nd quarter worth $26,000. Modus Advisors LLC acquired a new position in Deere & Company in the 4th quarter worth $32,000. Livelsberger Financial Advisory acquired a new position in Deere & Company in the 3rd quarter worth $32,000. Centennial Bank AR lifted its holdings in Deere & Company by 420.0% in the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after buying an additional 84 shares in the last quarter. Finally, Continuum Advisory LLC raised its stake in shares of Deere & Company by 155.8% in the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 67 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Up 4.0 %

DE stock opened at $456.57 on Tuesday. Deere & Company has a twelve month low of $340.20 and a twelve month high of $469.39. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. The stock has a market cap of $124.00 billion, a P/E ratio of 17.83, a PEG ratio of 1.74 and a beta of 0.98. The business’s 50-day moving average price is $431.48 and its 200-day moving average price is $402.53.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.89 by $0.66. The business had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The company’s revenue for the quarter was down 32.8% on a year-over-year basis. During the same period in the prior year, the firm earned $8.26 EPS. On average, equities research analysts forecast that Deere & Company will post 19.57 EPS for the current 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 issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.42%. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date is Tuesday, December 31st. Deere & Company’s dividend payout ratio is currently 25.31%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DE. Morgan Stanley upped their target price on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. UBS Group upped their target price on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Oppenheimer increased their price objective on shares of Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Truist Financial increased their price objective on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Deere & Company from $450.00 to $470.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 15th. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Deere & Company has an average rating of “Hold” and an average price target of $442.83.

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.