Deere & Company (NYSE:DE) Position Reduced by Legato Capital Management LLC

Legato Capital Management LLC reduced its position in Deere & Company (NYSE:DE) by 21.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 5,451 shares of the industrial products company’s stock after selling 1,469 shares during the quarter. Legato Capital Management LLC’s holdings in Deere & Company were worth $2,310,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in DE. Wellington Management Group LLP grew its stake in Deere & Company by 32.0% during the 3rd quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock valued at $3,068,404,000 after acquiring an additional 1,782,984 shares in the last quarter. FMR LLC boosted 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 worth $1,895,518,000 after purchasing an additional 988,380 shares during the period. Pathway Financial Advisers LLC grew its position in Deere & Company by 53,338.6% during the third quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock valued at $356,602,000 after purchasing an additional 852,885 shares in the last quarter. International Assets Investment Management LLC increased its stake in Deere & Company by 46,892.9% in the 3rd quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company’s stock valued at $322,218,000 after buying an additional 770,451 shares during the period. Finally, Stockbridge Partners LLC lifted its position in Deere & Company by 157.5% in the 3rd quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock worth $369,019,000 after buying an additional 540,874 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

DE has been the topic of several research analyst reports. Barclays boosted their price target on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Truist Financial boosted their target price on Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Morgan Stanley raised their price target on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. JPMorgan Chase & Co. boosted their price target on Deere & Company from $470.00 to $500.00 and gave the company a “neutral” rating in a research note on Monday. Finally, Jefferies Financial Group lowered shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective on the stock. in a research report on Friday, December 6th. 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 data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $446.17.

Deere & Company Stock Performance

DE opened at $474.79 on Wednesday. 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’s 50 day moving average price is $445.46 and its two-hundred day moving average price is $414.70. The firm has a market capitalization of $129.31 billion, a P/E ratio of 18.55, a price-to-earnings-growth ratio of 2.87 and a beta of 0.98. Deere & Company has a 12-month low of $340.20 and a 12-month high of $485.84.

Deere & Company (NYSE:DE) last announced its quarterly earnings data 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 the consensus estimate of $9.20 billion. During the same quarter last year, the company posted $8.26 earnings per share. Deere & Company’s quarterly revenue was down 32.8% on a year-over-year basis. On average, equities analysts forecast 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 was paid on Monday, February 10th. Stockholders 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 represents a $6.48 dividend on an annualized basis and a dividend yield of 1.36%. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio is currently 25.31%.

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.