New York Life Investment Management LLC Has $15.27 Million Position in Deere & Company (NYSE:DE)

New York Life Investment Management LLC lowered its holdings in Deere & Company (NYSE:DE) by 14.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 38,182 shares of the industrial products company’s stock after selling 6,685 shares during the quarter. New York Life Investment Management LLC’s holdings in Deere & Company were worth $15,268,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. RB Capital Management LLC grew its position in Deere & Company by 3.1% in the 4th quarter. RB Capital Management LLC now owns 1,965 shares of the industrial products company’s stock valued at $786,000 after purchasing an additional 60 shares during the period. Essex Financial Services Inc. boosted its holdings in Deere & Company by 12.2% during the 4th quarter. Essex Financial Services Inc. now owns 5,392 shares of the industrial products company’s stock worth $2,156,000 after acquiring an additional 585 shares during the last quarter. Triumph Capital Management purchased a new position in Deere & Company during the 4th quarter worth $232,000. Hartford Funds Management Co LLC boosted its holdings in Deere & Company by 4.1% during the 4th quarter. Hartford Funds Management Co LLC now owns 869 shares of the industrial products company’s stock worth $348,000 after acquiring an additional 34 shares during the last quarter. Finally, Savant Capital LLC boosted its holdings in Deere & Company by 2.1% during the 4th quarter. Savant Capital LLC now owns 14,909 shares of the industrial products company’s stock worth $5,961,000 after acquiring an additional 303 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Stifel Nicolaus cut their price objective on shares of Deere & Company from $435.00 to $425.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Deere & Company from $425.00 to $401.00 and set a “hold” rating on the stock in a report on Friday, February 16th. Wells Fargo & Company cut their price target on shares of Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a report on Friday, February 16th. Truist Financial started coverage on shares of Deere & Company in a report on Thursday, March 14th. They issued a “buy” rating and a $494.00 price target on the stock. Finally, Citigroup cut their price target on shares of Deere & Company from $450.00 to $435.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Deere & Company currently has a consensus rating of “Hold” and a consensus price target of $433.28.

Deere & Company Stock Up 0.3 %

DE stock opened at $388.80 on Thursday. The company has a current ratio of 2.05, a quick ratio of 1.81 and a debt-to-equity ratio of 1.81. The company’s 50 day moving average is $389.94 and its 200 day moving average is $383.76. The stock has a market cap of $108.23 billion, a price-to-earnings ratio of 11.28, a price-to-earnings-growth ratio of 1.47 and a beta of 1.04. Deere & Company has a 1-year low of $345.55 and a 1-year high of $450.00.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, topping the consensus estimate of $5.19 by $1.04. The company had revenue of $10.49 billion for the quarter, compared to analysts’ expectations of $10.30 billion. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. Deere & Company’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same period in the prior year, the business earned $6.55 earnings per share. Sell-side analysts predict that Deere & Company will post 27.37 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company 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 $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.51%. The ex-dividend date is Wednesday, March 27th. Deere & Company’s dividend payout ratio is currently 17.12%.

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.