Deere & Company (NYSE:DE) Shares Sold by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC trimmed its holdings in shares of Deere & Company (NYSE:DE) by 5.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 59,626 shares of the industrial products company’s stock after selling 3,731 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Deere & Company were worth $25,264,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ascent Group LLC raised its stake in shares of Deere & Company by 11.6% during the second quarter. Ascent Group LLC now owns 1,620 shares of the industrial products company’s stock valued at $605,000 after purchasing an additional 168 shares during the period. Magnolia Capital Advisors LLC purchased a new stake in shares of Deere & Company during the second quarter valued at approximately $615,000. NewEdge Advisors LLC lifted its holdings in Deere & Company by 2.6% in the 2nd quarter. NewEdge Advisors LLC now owns 19,150 shares of the industrial products company’s stock worth $7,155,000 after buying an additional 493 shares in the last quarter. Kimelman & Baird LLC acquired a new position in Deere & Company in the 2nd quarter worth $102,000. Finally, EP Wealth Advisors LLC lifted its holdings in Deere & Company by 76.1% in the 2nd quarter. EP Wealth Advisors LLC now owns 5,069 shares of the industrial products company’s stock worth $1,894,000 after buying an additional 2,190 shares in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on DE. Barclays increased their price target on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Citigroup decreased their price target on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Jefferies Financial Group downgraded 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. Truist Financial boosted their target price on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, Morgan Stanley increased their target price on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $444.50.

Deere & Company Stock Performance

Shares of DE traded up $0.68 during trading hours on Wednesday, reaching $480.67. 97,933 shares of the company’s stock traded hands, compared to its average volume of 1,344,417. The firm has a market capitalization of $130.91 billion, a price-to-earnings ratio of 18.80, a P/E/G ratio of 2.84 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. Deere & Company has a twelve month low of $340.20 and a twelve month high of $485.84. The business’s fifty day simple moving average is $441.75 and its two-hundred day simple moving average is $408.11.

Deere & Company (NYSE:DE) last released its quarterly 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 the consensus estimate of $9.20 billion. During the same period in the previous year, the firm earned $8.26 EPS. Deere & Company’s revenue was down 32.8% on a year-over-year basis. Analysts predict that Deere & Company will post 19.34 earnings per share for the current year.

Deere & Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.35%. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend is Tuesday, December 31st. Deere & Company’s dividend 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.