Cutler Investment Counsel LLC Trims Stake in Deere & Company (NYSE:DE)

Cutler Investment Counsel LLC trimmed its holdings in shares of Deere & Company (NYSE:DE) by 24.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,273 shares of the industrial products company’s stock after selling 11,850 shares during the quarter. Deere & Company comprises about 2.1% of Cutler Investment Counsel LLC’s holdings, making the stock its 14th largest position. Cutler Investment Counsel LLC’s holdings in Deere & Company were worth $14,959,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of DE. Retirement Group LLC increased its position in shares of Deere & Company by 264.7% in the second quarter. Retirement Group LLC now owns 62 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 45 shares during the last quarter. Briaud Financial Planning Inc purchased a new position in Deere & Company in the 3rd quarter worth approximately $25,000. Rakuten Securities Inc. bought a new position in shares of Deere & Company in the 4th quarter worth $28,000. ZRC Wealth Management LLC purchased a new stake in shares of Deere & Company during the 4th quarter valued at $28,000. Finally, Worth Asset Management LLC bought a new stake in shares of Deere & Company during the 1st quarter worth $28,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Down 0.2 %

Deere & Company stock traded down $0.63 during trading hours on Friday, hitting $399.97. The stock had a trading volume of 409,350 shares, compared to its average volume of 1,486,453. The stock’s 50-day moving average price is $385.47 and its 200-day moving average price is $382.79. The stock has a market capitalization of $111.34 billion, a P/E ratio of 11.71, a price-to-earnings-growth ratio of 1.49 and a beta of 1.04. Deere & Company has a 12-month low of $345.55 and a 12-month high of $450.00. The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 1.81.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $1.04. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The business had revenue of $10.49 billion for the quarter, compared to analysts’ expectations of $10.30 billion. During the same period in the prior year, the firm posted $6.55 EPS. The firm’s quarterly revenue was down 8.0% on a year-over-year basis. Equities research analysts anticipate that Deere & Company will post 27.39 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th will be paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend is Wednesday, March 27th. Deere & Company’s dividend payout ratio is currently 17.12%.

Analysts Set New Price Targets

DE has been the subject of a number of research reports. Melius cut Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Stifel Nicolaus decreased their price target on shares of Deere & Company from $435.00 to $425.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. Morgan Stanley started coverage on shares of Deere & Company in a research note on Monday, January 8th. They issued an “overweight” rating and a $430.00 price objective for the company. Citigroup cut their price target on shares of Deere & Company from $450.00 to $435.00 and set a “buy” rating for the company in a research report on Friday, February 16th. Finally, Melius Research restated a “hold” rating on shares of Deere & Company in a report on Monday, January 8th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Deere & Company has a consensus rating of “Hold” and an average target price of $433.28.

Deere & 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.