Cambridge Investment Research Advisors Inc. Reduces Holdings in Deere & Company (NYSE:DE)

Cambridge Investment Research Advisors Inc. reduced its stake in shares of Deere & Company (NYSE:DE) by 6.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,437 shares of the industrial products company’s stock after selling 4,230 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Deere & Company were worth $23,767,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Deere & Company during the fourth quarter valued at approximately $1,248,036,000. International Assets Investment Management LLC lifted its stake in shares of Deere & Company by 46,241.1% during the 4th quarter. International Assets Investment Management LLC now owns 840,627 shares of the industrial products company’s stock worth $336,142,000 after purchasing an additional 838,813 shares during the period. FMR LLC grew its position in shares of Deere & Company by 6.6% in the third quarter. FMR LLC now owns 4,374,282 shares of the industrial products company’s stock valued at $1,650,767,000 after purchasing an additional 269,571 shares during the period. Dimensional Fund Advisors LP increased its stake in Deere & Company by 11.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,595,945 shares of the industrial products company’s stock valued at $638,167,000 after purchasing an additional 160,369 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its position in Deere & Company by 11.3% during the fourth quarter. Fisher Asset Management LLC now owns 1,480,725 shares of the industrial products company’s stock worth $592,098,000 after buying an additional 149,980 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on DE. Truist Financial assumed coverage on shares of Deere & Company in a research note on Thursday, March 14th. They set a “buy” rating and a $494.00 price objective for the company. Citigroup reduced their price objective on Deere & Company from $450.00 to $435.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. Stifel Nicolaus increased their target price on Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, May 17th. TD Cowen increased their price objective on shares of Deere & Company from $383.00 to $390.00 and gave the company a “hold” rating in a research report on Friday, May 17th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Deere & Company from $425.00 to $401.00 and set a “hold” rating on the stock in a research report on Friday, February 16th. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Deere & Company presently has a consensus rating of “Moderate Buy” and an average price target of $432.92.

Deere & Company Stock Performance

Shares of NYSE:DE traded down $4.28 on Friday, hitting $374.96. The company’s stock had a trading volume of 1,511,751 shares, compared to its average volume of 1,459,758. The company has a market capitalization of $104.37 billion, a price-to-earnings ratio of 11.29, a price-to-earnings-growth ratio of 1.51 and a beta of 1.04. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.80 and a current ratio of 2.01. Deere & Company has a 12 month low of $345.55 and a 12 month high of $450.00. The stock’s 50-day moving average is $399.76 and its two-hundred day moving average is $386.40.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.86 by $0.67. The firm had revenue of $13.61 billion for the quarter, compared to analyst estimates of $13.29 billion. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. Deere & Company’s revenue was down 15.4% compared to the same quarter last year. During the same period in the previous year, the company earned $9.65 earnings per share. On average, equities research analysts forecast that Deere & Company will post 25.8 EPS for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th were given a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 1.57%. The ex-dividend date was Wednesday, March 27th. Deere & Company’s dividend payout ratio (DPR) is currently 17.70%.

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.