Great Lakes Retirement Inc. Sells 50 Shares of Deere & Company (NYSE:DE)

Great Lakes Retirement Inc. trimmed its stake in Deere & Company (NYSE:DE) by 0.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,481 shares of the industrial products company’s stock after selling 50 shares during the quarter. Great Lakes Retirement Inc.’s holdings in Deere & Company were worth $2,322,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP raised its holdings in Deere & Company by 32.0% in the 3rd quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock worth $3,068,404,000 after acquiring an additional 1,782,984 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Deere & Company by 0.6% in the third quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company’s stock worth $2,168,737,000 after purchasing an additional 31,459 shares during the last quarter. FMR LLC lifted its holdings in shares of Deere & Company by 27.8% during the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock valued at $1,895,518,000 after purchasing an additional 988,380 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of Deere & Company by 8.6% during the third quarter. Fisher Asset Management LLC now owns 1,994,657 shares of the industrial products company’s stock valued at $832,431,000 after buying an additional 158,732 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Deere & Company by 5.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,731,801 shares of the industrial products company’s stock worth $722,733,000 after buying an additional 85,401 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on DE. Jefferies Financial Group cut shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price on the stock. in a research note on Friday, December 6th. Oppenheimer increased their price objective on shares of Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Truist Financial raised their target price 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. UBS Group boosted 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. Finally, Morgan Stanley increased their price target on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $446.17.

Deere & Company Stock Up 1.0 %

DE stock opened at $474.79 on Wednesday. Deere & Company has a twelve month low of $340.20 and a twelve month high of $485.84. 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 $129.31 billion, a P/E ratio of 18.55, a PEG ratio of 2.87 and a beta of 0.98. The business’s 50-day moving average price is $445.15 and its 200-day moving average price is $414.08.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $9.20 billion. During the same quarter last year, the business earned $8.26 EPS. The firm’s revenue was down 32.8% compared to the same quarter last year. On average, equities research analysts forecast that Deere & Company will post 19.38 EPS for the current year.

Deere & Company Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Tuesday, December 31st were paid a dividend of $1.62 per share. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.36%. Deere & Company’s payout ratio is 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.