Deere & Company (NYSE:DE) Stake Lessened by Quad Cities Investment Group LLC

Quad Cities Investment Group LLC decreased its position in shares of Deere & Company (NYSE:DE) by 1.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,711 shares of the industrial products company’s stock after selling 71 shares during the period. Deere & Company accounts for about 1.2% of Quad Cities Investment Group LLC’s investment portfolio, making the stock its 22nd largest holding. Quad Cities Investment Group LLC’s holdings in Deere & Company were worth $2,420,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Breakwater Capital Group grew its position in Deere & Company by 2.8% in the fourth quarter. Breakwater Capital Group now owns 1,642 shares of the industrial products company’s stock worth $696,000 after buying an additional 44 shares during the last quarter. Tealwood Asset Management Inc. acquired a new stake in shares of Deere & Company during the fourth quarter worth $202,000. Dale Q Rice Investment Management Ltd purchased a new stake in shares of Deere & Company during the fourth quarter valued at $791,000. FNY Investment Advisers LLC boosted its position in shares of Deere & Company by 657.1% in the 4th quarter. FNY Investment Advisers LLC now owns 5,300 shares of the industrial products company’s stock valued at $2,245,000 after purchasing an additional 4,600 shares during the period. Finally, BCS Wealth Management acquired a new stake in Deere & Company during the 4th quarter worth about $287,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Trading Up 5.3 %

Deere & Company stock opened at $430.17 on Tuesday. Deere & Company has a one year low of $340.20 and a one year high of $469.39. The company’s fifty day moving average price is $428.56 and its two-hundred day moving average price is $400.45. 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 has a market capitalization of $117.69 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 1.88 and a beta of 0.96.

Deere & Company (NYSE:DE) last issued 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 in the prior year, the firm posted $8.26 EPS. The firm’s revenue for the quarter was down 32.8% on a year-over-year basis. On average, analysts forecast that Deere & Company will post 19.41 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The company also recently declared 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 is a positive change from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date is Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.51%. Deere & Company’s dividend payout ratio (DPR) is currently 22.97%.

Analyst Upgrades and Downgrades

DE has been the topic of several analyst reports. Oppenheimer lifted their target price on shares of Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Truist Financial increased their target price on Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Morgan Stanley upped their price target on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Barclays raised their price objective on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Finally, JPMorgan Chase & Co. upped their target price on Deere & Company from $420.00 to $450.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. 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.com, Deere & Company presently has an average rating of “Hold” and a consensus target price of $443.94.

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.