Deere & Company (NYSE:DE) Position Trimmed by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. decreased its holdings in Deere & Company (NYSE:DE) by 5.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,241 shares of the industrial products company’s stock after selling 70 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Deere & Company were worth $528,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP grew its holdings in shares of Deere & Company by 32.0% in the 3rd quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company’s stock worth $3,068,404,000 after acquiring an additional 1,782,984 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Deere & Company by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company’s stock valued at $2,168,737,000 after purchasing an additional 31,459 shares during the period. FMR LLC increased its stake in Deere & Company by 27.8% in the 3rd 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 in the last quarter. Legal & General Group Plc raised its holdings in Deere & Company by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 2,254,266 shares of the industrial products company’s stock worth $842,259,000 after buying an additional 60,255 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in 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 buying an additional 279,627 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

DE has been the topic of several analyst reports. UBS Group lifted their target price on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Jefferies Financial Group lowered Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 target price for the company. in a report on Friday, December 6th. JPMorgan Chase & Co. raised their target price on Deere & Company from $420.00 to $450.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Barclays upped their price target on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Finally, Truist Financial raised their price objective on Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Eleven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $443.94.

Deere & Company Price Performance

NYSE DE opened at $430.17 on Tuesday. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $469.39. The stock’s 50-day moving average is $428.56 and its two-hundred day moving average is $400.45. The firm has a market cap of $117.69 billion, a P/E ratio of 16.80, a price-to-earnings-growth ratio of 1.88 and a beta of 0.96. 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 (NYSE:DE) last issued its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating analysts’ consensus estimates of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The business had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. During the same period last year, the business earned $8.26 EPS. The firm’s revenue was down 32.8% compared to the same quarter last year. On average, analysts anticipate that Deere & Company will post 19.41 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be paid a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 dividend on an annualized basis and a yield of 1.51%. Deere & Company’s dividend payout ratio (DPR) is presently 22.97%.

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.