High Falls Advisors Inc Sells 107 Shares of Deere & Company (NYSE:DE)

High Falls Advisors Inc lowered its stake in shares of Deere & Company (NYSE:DE) by 6.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,446 shares of the industrial products company’s stock after selling 107 shares during the quarter. High Falls Advisors Inc’s holdings in Deere & Company were worth $603,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of DE. Wellington Management Group LLP raised its holdings in shares of Deere & Company by 32.0% in the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock worth $3,068,404,000 after buying an additional 1,782,984 shares during the period. FMR LLC increased its stake in Deere & Company by 27.8% in the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company’s stock worth $1,895,518,000 after purchasing an additional 988,380 shares during the period. Legal & General Group Plc lifted its position in shares of Deere & Company by 2.7% during the second quarter. Legal & General Group Plc now owns 2,254,266 shares of the industrial products company’s stock worth $842,259,000 after purchasing an additional 60,255 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Deere & Company by 15.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock valued at $802,037,000 after purchasing an additional 279,627 shares during the period. Finally, Fisher Asset Management LLC boosted its stake in shares of Deere & Company by 8.6% during the third quarter. Fisher Asset Management LLC now owns 1,994,657 shares of the industrial products company’s stock valued at $832,431,000 after purchasing an additional 158,732 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Up 1.2 %

NYSE:DE opened at $449.27 on Tuesday. The company has a market cap of $122.92 billion, a PE ratio of 17.55, a P/E/G ratio of 1.90 and a beta of 0.96. Deere & Company has a twelve month low of $340.20 and a twelve month high of $469.39. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89. The company’s 50 day moving average is $418.17 and its two-hundred day moving average is $390.83.

Deere & Company (NYSE:DE) last released its quarterly earnings data 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 firm had revenue of $9.28 billion for 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 business’s quarterly revenue was down 32.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $8.26 earnings per share. Analysts anticipate that Deere & Company will post 19.52 EPS for the current year.

Deere & Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be given a dividend of $1.62 per share. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a yield of 1.44%. The ex-dividend date is Tuesday, December 31st. Deere & Company’s dividend payout ratio (DPR) is currently 22.97%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Truist Financial upped their target price on shares of Deere & Company from $496.00 to $538.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Citigroup increased their price objective on Deere & Company from $460.00 to $470.00 and gave the stock a “neutral” rating in a research note on Monday. Hsbc Global Res lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Morgan Stanley upped 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. Finally, Barclays raised their price target on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Thirteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $443.28.

Deere & Company Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.