G&S Capital LLC Lowers Stock Holdings in Deere & Company (NYSE:DE)

G&S Capital LLC cut its stake in shares of Deere & Company (NYSE:DE) by 37.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,244 shares of the industrial products company’s stock after selling 760 shares during the quarter. G&S Capital LLC’s holdings in Deere & Company were worth $527,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Pineridge Advisors LLC grew its stake in Deere & Company by 60.5% in the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 26 shares in the last quarter. Modus Advisors LLC purchased a new stake in shares of Deere & Company in the 4th quarter worth $32,000. Livelsberger Financial Advisory bought a new position in shares of Deere & Company during the 3rd quarter worth $32,000. YANKCOM Partnership bought a new position in shares of Deere & Company during the 4th quarter worth $34,000. Finally, Synergy Asset Management LLC purchased a new position in shares of Deere & Company during the fourth quarter valued at $35,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Price Performance

Shares of DE opened at $476.53 on Thursday. The firm has a market capitalization of $129.78 billion, a PE ratio of 18.61, a price-to-earnings-growth ratio of 2.87 and a beta of 0.98. 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 company’s fifty day moving average price is $445.86 and its 200-day moving average price is $415.14. Deere & Company has a 1-year low of $340.20 and a 1-year high of $485.84.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, beating analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. On average, equities research analysts predict that Deere & Company will post 19.38 EPS for the current year.

Deere & Company Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 dividend on an annualized basis and a yield of 1.36%. Deere & Company’s dividend payout ratio (DPR) is currently 25.31%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on DE shares. Barclays upped their price objective on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. 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 research report on Friday, December 6th. UBS Group lifted their price objective on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Truist Financial upped their target price on Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, Oppenheimer increased their target price on Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Eleven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Deere & Company has an average rating of “Hold” and an average price target of $446.17.

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.