Deere & Company (NYSE:DE) Shares Sold by Tobam

Tobam trimmed its position in shares of Deere & Company (NYSE:DE) by 44.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 297 shares of the industrial products company’s stock after selling 234 shares during the period. Tobam’s holdings in Deere & Company were worth $126,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Modus Advisors LLC purchased a new stake in shares of Deere & Company in the 4th quarter valued at approximately $32,000. Livelsberger Financial Advisory acquired a new position in Deere & Company during the third quarter worth approximately $32,000. YANKCOM Partnership purchased a new stake in Deere & Company in the 4th quarter valued at $34,000. Synergy Asset Management LLC purchased a new position in shares of Deere & Company during the fourth quarter worth about $35,000. Finally, Continuum Advisory LLC increased its holdings 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 valued at $43,000 after purchasing an additional 67 shares during the period. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on DE shares. Jefferies Financial Group cut shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target for the company. in a report on Friday, December 6th. Truist Financial raised 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. Barclays upped their price objective on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Oppenheimer raised their target price on Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Finally, Morgan Stanley upped their price target on shares of Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Deere & Company currently has a consensus rating of “Hold” and an average price target of $444.50.

Deere & Company Price Performance

Shares of NYSE:DE opened at $465.63 on Friday. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. The business’s fifty day moving average price is $445.01 and its two-hundred day moving average price is $412.26. The stock has a market cap of $126.82 billion, a PE ratio of 18.19, a price-to-earnings-growth ratio of 2.94 and a beta of 0.98. Deere & Company has a one year low of $340.20 and a one year high of $485.84.

Deere & Company (NYSE:DE) last posted 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 return on equity of 31.32% and a net margin of 13.73%. The business had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. During the same quarter last year, the company earned $8.26 earnings per share. The business’s revenue for the quarter was down 32.8% compared to the same quarter last year. On average, analysts forecast that Deere & Company will post 19.38 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. Stockholders of record on Tuesday, December 31st will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s payout ratio is currently 25.31%.

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.