Beaumont Financial Advisors LLC Reduces Stock Position in Deere & Company (NYSE:DE)

Beaumont Financial Advisors LLC trimmed its position in shares of Deere & Company (NYSE:DE) by 0.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,092 shares of the industrial products company’s stock after selling 27 shares during the quarter. Beaumont Financial Advisors LLC’s holdings in Deere & Company were worth $2,157,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. DLK Investment Management LLC raised its stake in Deere & Company by 0.3% during the 4th quarter. DLK Investment Management LLC now owns 8,212 shares of the industrial products company’s stock worth $3,479,000 after acquiring an additional 24 shares during the period. Mattern Wealth Management LLC lifted 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 valued at $786,000 after buying an additional 25 shares in the last quarter. Carret Asset Management LLC boosted its holdings in Deere & Company by 0.3% in the 3rd quarter. Carret Asset Management LLC now owns 8,148 shares of the industrial products company’s stock worth $3,401,000 after buying an additional 25 shares during the period. Round Rock Advisors LLC increased its stake in Deere & Company by 2.0% in the 3rd quarter. Round Rock Advisors LLC now owns 1,252 shares of the industrial products company’s stock worth $522,000 after buying an additional 25 shares in the last quarter. Finally, Douglas Lane & Associates LLC grew its stake in shares of Deere & Company by 4.7% in the 4th 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 in the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

NYSE DE opened at $463.06 on Wednesday. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. The stock’s 50 day simple moving average is $432.55 and its 200-day simple moving average is $403.19. The company has a market cap of $126.11 billion, a PE ratio of 18.09, a price-to-earnings-growth ratio of 2.81 and a beta of 0.98. Deere & Company has a 1-year low of $340.20 and a 1-year high of $469.39.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $9.20 billion. During the same quarter in the prior year, the firm earned $8.26 EPS. Deere & Company’s quarterly revenue was down 32.8% on a year-over-year basis. As a group, equities research analysts anticipate that Deere & Company will post 19.34 EPS for the current fiscal year.

Deere & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Investors 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 1.40%. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s payout ratio is currently 25.31%.

Analyst Ratings Changes

Several research firms have recently issued reports on DE. Oppenheimer raised their price objective on Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. lifted 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. Barclays increased their target price on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Morgan Stanley upped their price target on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Finally, Jefferies Financial Group lowered Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price for the company. in a research report on Friday, December 6th. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price 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.