Absher Wealth Management LLC Sells 13,948 Shares of Deere & Company (NYSE:DE)

Absher Wealth Management LLC cut its stake in Deere & Company (NYSE:DE) by 16.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 69,718 shares of the industrial products company’s stock after selling 13,948 shares during the period. Deere & Company accounts for about 3.9% of Absher Wealth Management LLC’s investment portfolio, making the stock its 11th biggest position. Absher Wealth Management LLC’s holdings in Deere & Company were worth $29,539,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Livelsberger Financial Advisory bought a new stake in Deere & Company in the third quarter valued at about $32,000. Modus Advisors LLC bought a new stake in shares of Deere & Company in the 4th quarter valued at about $32,000. Synergy Asset Management LLC acquired a new stake in shares of Deere & Company in the 4th quarter valued at approximately $35,000. Continuum Advisory LLC boosted its stake in Deere & Company by 155.8% during the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 67 shares during the last quarter. Finally, Darwin Wealth Management LLC acquired a new position in Deere & Company during the third quarter valued at approximately $47,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Down 1.0 %

Shares of DE stock opened at $467.77 on Thursday. Deere & Company has a 52-week low of $340.20 and a 52-week high of $485.84. The stock has a market cap of $127.40 billion, a price-to-earnings ratio of 18.27, a PEG ratio of 2.94 and a beta of 0.98. The firm’s 50-day moving average is $445.00 and its 200-day moving average is $411.50. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.89 by $0.66. The firm had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The business’s revenue for the quarter was down 32.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $8.26 earnings per share. Sell-side analysts predict that Deere & Company will post 19.38 EPS for the current year.

Deere & Company Increases Dividend

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

Analyst Ratings Changes

Several equities research analysts have weighed in on DE shares. Truist Financial increased their target price on shares of Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Barclays raised their price objective on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Morgan Stanley increased their price target on Deere & Company from $401.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Oppenheimer lifted their price objective on Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Finally, Jefferies Financial Group cut Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price for the company. in a research note on Friday, December 6th. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average 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.