Deere & Company $DE Shares Sold by Beacon Investment Advisors LLC

Beacon Investment Advisors LLC reduced its stake in Deere & Company (NYSE:DE) by 18.8% during the 4th quarter, Holdings Channel reports. The fund owned 9,044 shares of the industrial products company’s stock after selling 2,098 shares during the quarter. Deere & Company makes up approximately 1.7% of Beacon Investment Advisors LLC’s investment portfolio, making the stock its 12th biggest position. Beacon Investment Advisors LLC’s holdings in Deere & Company were worth $4,211,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Aster Capital Management DIFC Ltd raised its stake in shares of Deere & Company by 371.2% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 2,554 shares of the industrial products company’s stock valued at $1,189,000 after acquiring an additional 2,012 shares in the last quarter. Rakuten Investment Management Inc. raised its stake in shares of Deere & Company by 141.5% in the fourth quarter. Rakuten Investment Management Inc. now owns 33,360 shares of the industrial products company’s stock valued at $15,687,000 after acquiring an additional 19,546 shares in the last quarter. Beacon Financial Advisory LLC raised its stake in shares of Deere & Company by 23.8% in the fourth quarter. Beacon Financial Advisory LLC now owns 624 shares of the industrial products company’s stock valued at $291,000 after acquiring an additional 120 shares in the last quarter. L2 Asset Management LLC raised its stake in shares of Deere & Company by 12.0% in the fourth quarter. L2 Asset Management LLC now owns 1,946 shares of the industrial products company’s stock valued at $906,000 after acquiring an additional 208 shares in the last quarter. Finally, Bluedoor Private Wealth LLC acquired a new stake in shares of Deere & Company in the fourth quarter valued at $1,005,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on DE. BMO Capital Markets increased their price objective on Deere & Company from $460.00 to $500.00 and gave the company a “market perform” rating in a research note on Friday, February 20th. Citigroup dropped their target price on Deere & Company from $625.00 to $595.00 and set a “neutral” rating on the stock in a report on Friday, May 22nd. Royal Bank Of Canada reissued an “outperform” rating and issued a $752.00 target price on shares of Deere & Company in a report on Monday, June 1st. Barclays increased their target price on Deere & Company from $530.00 to $640.00 and gave the company an “overweight” rating in a report on Tuesday, March 31st. Finally, Bank of America dropped their target price on Deere & Company from $672.00 to $607.50 and set a “neutral” rating on the stock in a report on Friday, May 22nd. Fourteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, Deere & Company presently has a consensus rating of “Moderate Buy” and an average price target of $639.58.

Deere & Company Stock Performance

NYSE:DE opened at $586.43 on Wednesday. The firm has a market capitalization of $158.30 billion, a PE ratio of 33.23, a price-to-earnings-growth ratio of 2.13 and a beta of 0.92. The business’s fifty day moving average price is $573.50 and its 200 day moving average price is $550.68. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. Deere & Company has a 12 month low of $433.00 and a 12 month high of $674.19.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, beating the consensus estimate of $5.70 by $0.85. The firm had revenue of $13.37 billion for the quarter, compared to analyst estimates of $11.55 billion. Deere & Company had a return on equity of 18.25% and a net margin of 10.09%.Deere & Company’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $6.64 earnings per share. On average, sell-side analysts anticipate that Deere & Company will post 18.13 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.1%. Deere & Company’s dividend payout ratio (DPR) is presently 36.71%.

Deere & Company Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.