Fortitude Advisory Group L.L.C. Reduces Position in Deere & Company (NYSE:DE)

Fortitude Advisory Group L.L.C. reduced its stake in Deere & Company (NYSE:DE) by 6.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,367 shares of the industrial products company’s stock after selling 97 shares during the quarter. Fortitude Advisory Group L.L.C.’s holdings in Deere & Company were worth $579,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of DE. Livelsberger Financial Advisory bought a new position in shares of Deere & Company during the 3rd quarter valued at approximately $32,000. Modus Advisors LLC bought a new position in shares of Deere & Company in the fourth quarter worth approximately $32,000. Centennial Bank AR boosted its holdings in Deere & Company by 420.0% in the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after buying an additional 84 shares during the period. Continuum Advisory LLC increased its stake in Deere & Company by 155.8% in the 3rd quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after buying an additional 67 shares in the last quarter. Finally, Darwin Wealth Management LLC bought a new stake in Deere & Company during the third quarter valued at about $47,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on DE shares. UBS Group upped their price objective on Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. increased their price objective on shares of Deere & Company from $450.00 to $470.00 and gave the company a “neutral” rating in a report on Wednesday, January 15th. Morgan Stanley boosted their target price on shares of 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 target on shares of Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Finally, Citigroup lowered their price objective 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. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Deere & Company currently has a consensus rating of “Hold” and an average target price of $442.83.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $484.08 on Tuesday. The firm has a market capitalization of $131.84 billion, a P/E ratio of 18.91, a PEG ratio of 2.84 and a beta of 0.98. Deere & Company has a 52 week low of $340.20 and a 52 week high of $484.39. 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 company has a 50 day moving average price of $438.55 and a 200 day moving average price of $406.44.

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 return on equity of 31.32% and a net margin of 13.73%. The firm had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. During the same period last year, the business posted $8.26 earnings per share. The company’s revenue for the quarter was down 32.8% compared to the same quarter last year. Sell-side analysts expect that Deere & Company will post 19.34 EPS for the current year.

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.34%. The ex-dividend date is Tuesday, December 31st. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio (DPR) is 25.31%.

Deere & Company 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.