First Horizon Advisors Inc. Cuts Stock Position in Deere & Company (NYSE:DE)

First Horizon Advisors Inc. trimmed its position in shares of Deere & Company (NYSE:DE) by 4.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,667 shares of the industrial products company’s stock after selling 83 shares during the period. First Horizon Advisors Inc.’s holdings in Deere & Company were worth $667,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of DE. Pinnacle Associates Ltd. grew its stake in shares of Deere & Company by 21.3% during the fourth quarter. Pinnacle Associates Ltd. now owns 5,355 shares of the industrial products company’s stock valued at $2,141,000 after buying an additional 939 shares during the last quarter. Penserra Capital Management LLC grew its position in Deere & Company by 2.4% during the 3rd quarter. Penserra Capital Management LLC now owns 236,696 shares of the industrial products company’s stock worth $89,322,000 after acquiring an additional 5,485 shares during the last quarter. New Mexico Educational Retirement Board increased its stake in Deere & Company by 6.9% in the 3rd quarter. New Mexico Educational Retirement Board now owns 14,002 shares of the industrial products company’s stock worth $5,284,000 after purchasing an additional 900 shares during the period. Summit Asset Management LLC lifted its position in Deere & Company by 24.1% in the fourth quarter. Summit Asset Management LLC now owns 1,030 shares of the industrial products company’s stock valued at $412,000 after purchasing an additional 200 shares during the last quarter. Finally, Centric Wealth Management purchased a new stake in shares of Deere & Company during the third quarter valued at approximately $2,640,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Up 1.3 %

NYSE:DE opened at $400.96 on Friday. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.05 and a quick ratio of 1.81. The firm’s 50-day moving average price is $391.45 and its 200-day moving average price is $383.91. The company has a market capitalization of $111.61 billion, a PE ratio of 11.68, a P/E/G ratio of 1.51 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 announced its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 earnings per share for the quarter, topping analysts’ consensus estimates of $5.19 by $1.04. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The business had revenue of $10.49 billion for the quarter, compared to analysts’ expectations of $10.30 billion. During the same quarter in the prior year, the company earned $6.55 earnings per share. The business’s revenue was down 8.0% compared to the same quarter last year. On average, equities analysts predict that Deere & Company will post 27.37 EPS for the current fiscal year.

Deere & Company Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on DE. Melius lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Morgan Stanley assumed coverage on shares of Deere & Company in a research note on Monday, January 8th. They set an “overweight” rating and a $430.00 price objective for the company. Stifel Nicolaus cut their target price on Deere & Company from $435.00 to $425.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. Wells Fargo & Company lowered their price target on Deere & Company from $445.00 to $425.00 and set an “overweight” rating for the company in a research report on Friday, February 16th. Finally, JPMorgan Chase & Co. increased their price objective on Deere & Company from $415.00 to $425.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $433.28.

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.