Wedgewood Investors Inc. PA Trims Stock Position in Deere & Company (NYSE:DE)

Wedgewood Investors Inc. PA decreased its holdings in Deere & Company (NYSE:DE) by 3.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,610 shares of the industrial products company’s stock after selling 80 shares during the quarter. Deere & Company makes up approximately 1.3% of Wedgewood Investors Inc. PA’s holdings, making the stock its 20th largest holding. Wedgewood Investors Inc. PA’s holdings in Deere & Company were worth $1,044,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Briaud Financial Planning Inc acquired a new stake in Deere & Company during the third quarter worth about $25,000. ZRC Wealth Management LLC acquired a new stake in Deere & Company during the 4th quarter worth approximately $28,000. Rakuten Securities Inc. acquired a new position in Deere & Company during the fourth quarter valued at approximately $28,000. Naples Money Management LLC purchased a new stake in Deere & Company during the fourth quarter worth approximately $29,000. Finally, Bfsg LLC acquired a new stake in shares of Deere & Company in the fourth quarter worth $30,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on DE. Citigroup dropped their target price on Deere & Company from $450.00 to $435.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Melius Research restated a “hold” rating on shares of Deere & Company in a research note on Monday, January 8th. Wells Fargo & Company dropped their price target on shares of Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a research note on Friday, February 16th. Truist Financial initiated coverage on shares of Deere & Company in a research report on Thursday, March 14th. They issued a “buy” rating and a $494.00 price objective for the company. Finally, Melius lowered Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $433.28.

Deere & Company Stock Performance

Shares of Deere & Company stock traded down $5.39 during trading on Wednesday, reaching $386.02. The company’s stock had a trading volume of 497,930 shares, compared to its average volume of 1,447,818. The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 1.81. The business’s 50-day moving average price is $389.34 and its 200-day moving average price is $383.73. Deere & Company has a 52 week low of $345.55 and a 52 week high of $450.00. The firm has a market cap of $107.45 billion, a PE ratio of 11.25, a P/E/G ratio of 1.51 and a beta of 1.04.

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

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th will be paid a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date is Wednesday, March 27th. Deere & Company’s payout ratio is 17.12%.

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.