Deere & Company (NYSE:DE) Shares Sold by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. cut its stake in Deere & Company (NYSE:DE) by 26.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 8,453 shares of the industrial products company’s stock after selling 3,088 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Deere & Company were worth $3,582,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of DE. Wellington Management Group LLP raised its holdings in Deere & Company by 32.0% during the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock worth $3,068,404,000 after purchasing an additional 1,782,984 shares in the last quarter. Geode Capital Management LLC raised its position in 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 acquiring an additional 31,459 shares in the last quarter. FMR LLC lifted its holdings in Deere & Company by 27.8% in 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 acquiring an additional 988,380 shares during the period. Fisher Asset Management LLC boosted its position in shares of Deere & Company by 8.6% during the 3rd quarter. Fisher Asset Management LLC now owns 1,994,657 shares of the industrial products company’s stock worth $832,431,000 after purchasing an additional 158,732 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Deere & Company by 5.2% during 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 purchasing an additional 85,401 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Performance

Deere & Company stock opened at $464.69 on Friday. The stock has a fifty day moving average price of $445.03 and a 200 day moving average price of $411.89. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89. Deere & Company has a 52 week low of $340.20 and a 52 week high of $485.84. The firm has a market capitalization of $126.56 billion, a P/E ratio of 18.15, a PEG ratio of 2.94 and a beta of 0.98.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.89 by $0.66. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The business had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.20 billion. During the same period last year, the company earned $8.26 earnings per share. The company’s quarterly revenue was down 32.8% on a year-over-year basis. Equities research analysts anticipate that Deere & Company will post 19.38 earnings per share for the current year.

Deere & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $1.62 per share. The ex-dividend date is Tuesday, December 31st. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a dividend yield of 1.39%. Deere & Company’s payout ratio is currently 25.31%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on DE. Jefferies Financial Group cut shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective for the company. in a research note on Friday, December 6th. Barclays upped their price target on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. UBS Group lifted their price objective on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Oppenheimer upped 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, Truist Financial lifted their price target on Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Eleven 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 company presently has a consensus rating of “Hold” and a consensus price target of $444.50.

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.