Byrne Asset Management LLC Trims Stock Position in Deere & Company (NYSE:DE)

Byrne Asset Management LLC trimmed its stake in Deere & Company (NYSE:DE) by 8.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,584 shares of the industrial products company’s stock after selling 233 shares during the period. Byrne Asset Management LLC’s holdings in Deere & Company were worth $1,095,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of DE. Robertson Stephens Wealth Management LLC grew its position in shares of Deere & Company by 2.2% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 1,002 shares of the industrial products company’s stock worth $426,000 after buying an additional 22 shares during the period. DLK Investment Management LLC raised its holdings in Deere & Company by 0.3% in the fourth quarter. DLK Investment Management LLC now owns 8,212 shares of the industrial products company’s stock worth $3,479,000 after buying an additional 24 shares during the last quarter. Mattern Wealth Management LLC lifted its stake in shares of Deere & Company by 1.3% in the third quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock worth $786,000 after buying an additional 25 shares in the last quarter. Carret Asset Management LLC grew its holdings in shares of Deere & Company by 0.3% during the third quarter. Carret Asset Management LLC now owns 8,148 shares of the industrial products company’s stock valued at $3,401,000 after buying an additional 25 shares during the last quarter. Finally, Round Rock Advisors LLC increased its position in shares of Deere & Company by 2.0% during the third quarter. Round Rock Advisors LLC now owns 1,252 shares of the industrial products company’s stock valued at $522,000 after acquiring an additional 25 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on DE shares. Citigroup cut their target price on Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 14th. JPMorgan Chase & Co. lifted their price objective on Deere & Company from $450.00 to $470.00 and gave the stock a “neutral” rating in a report on Wednesday, January 15th. Truist Financial upped their target price on shares of Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Barclays lifted their price target on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Finally, Jefferies Financial Group downgraded 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 analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $444.50.

Deere & Company Stock Up 0.1 %

DE stock opened at $465.63 on Friday. The business’s 50-day moving average price is $445.01 and its 200-day moving average price is $412.26. The stock has a market cap of $126.82 billion, a P/E ratio of 18.19, a PEG ratio of 2.94 and a beta of 0.98. Deere & Company has a twelve month low of $340.20 and a twelve month high of $485.84. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89.

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

Deere & Company Increases Dividend

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