Patriot Investment Management Group Inc. Decreases Stake in Deere & Company (NYSE:DE)

Patriot Investment Management Group Inc. trimmed its stake in Deere & Company (NYSE:DE) by 15.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,866 shares of the industrial products company’s stock after selling 522 shares during the period. Patriot Investment Management Group Inc.’s holdings in Deere & Company were worth $1,214,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Livelsberger Financial Advisory purchased a new position in Deere & Company during the third quarter valued at $32,000. Modus Advisors LLC bought a new position in shares of Deere & Company in the 4th quarter worth about $32,000. Centennial Bank AR boosted its stake in Deere & Company by 420.0% during the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 84 shares in the last quarter. Continuum Advisory LLC grew its stake in shares of Deere & Company by 155.8% in the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 67 shares during the last quarter. Finally, Darwin Wealth Management LLC bought a new position in shares of Deere & Company during the third quarter valued at $47,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Up 3.4 %

Shares of Deere & Company stock opened at $475.22 on Friday. 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 company has a market cap of $129.43 billion, a P/E ratio of 18.56, a PEG ratio of 2.84 and a beta of 0.98. The firm’s 50 day moving average price is $435.34 and its 200-day moving average price is $404.30. Deere & Company has a 52-week low of $340.20 and a 52-week high of $475.92.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, beating the consensus estimate of $3.89 by $0.66. The firm had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. Deere & Company’s revenue was down 32.8% on a year-over-year basis. During the same period last year, the firm posted $8.26 EPS. On average, sell-side analysts predict that Deere & Company will post 19.34 EPS 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. Stockholders of record on Tuesday, December 31st will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.36%. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date is Tuesday, December 31st. Deere & Company’s payout ratio is 25.31%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on DE. Morgan Stanley raised their price objective 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. JPMorgan Chase & Co. boosted their price target on Deere & Company from $450.00 to $470.00 and gave the company a “neutral” rating in a research note on Wednesday, January 15th. Truist Financial raised their price objective on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Citigroup decreased their price objective on Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. Finally, Oppenheimer lifted their price target on shares of Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Deere & Company 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.