Empower Advisory Group LLC Cuts Stock Position in Deere & Company (NYSE:DE)

Empower Advisory Group LLC decreased its holdings in Deere & Company (NYSE:DE) by 16.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,973 shares of the industrial products company’s stock after selling 5,951 shares during the quarter. Empower Advisory Group LLC’s holdings in Deere & Company were worth $12,700,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Pineridge Advisors LLC boosted its position in Deere & Company by 60.5% in the 4th quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after buying an additional 26 shares during the period. Modus Advisors LLC purchased a new position in Deere & Company in the fourth quarter valued at $32,000. Livelsberger Financial Advisory acquired a new position in Deere & Company during the 3rd quarter worth $32,000. YANKCOM Partnership purchased a new stake in Deere & Company during the 4th quarter worth about $34,000. Finally, Synergy Asset Management LLC acquired a new stake in Deere & Company in the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of DE stock opened at $480.17 on Tuesday. 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 has a market cap of $130.77 billion, a PE ratio of 18.76, a P/E/G ratio of 2.87 and a beta of 0.98. The company’s fifty day simple moving average is $446.95 and its 200-day simple moving average is $416.83. Deere & Company has a 52 week low of $340.20 and a 52 week high of $485.84.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share for the quarter, beating analysts’ consensus estimates of $3.14 by $0.05. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. As a group, equities research analysts anticipate that Deere & Company will post 19.38 EPS for the current year.

Deere & Company Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st were paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date was Tuesday, December 31st. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio is 25.31%.

Analyst Ratings Changes

DE has been the subject of a number of analyst reports. Oppenheimer boosted their price objective on Deere & Company from $477.00 to $507.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Jefferies Financial Group cut shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target for the company. in a report on Friday, December 6th. Barclays raised their price objective on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Morgan Stanley increased their target price on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Finally, Truist Financial restated a “buy” rating and issued a $546.00 price target (down from $550.00) on shares of Deere & Company in a research note on Friday. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $450.12.

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.