Accurate Wealth Management LLC Lowers Stake in Deere & Company (NYSE:DE)

Accurate Wealth Management LLC lessened its position in shares of Deere & Company (NYSE:DE) by 7.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,761 shares of the industrial products company’s stock after selling 149 shares during the period. Accurate Wealth Management LLC’s holdings in Deere & Company were worth $719,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in DE. Fairscale Capital LLC acquired a new position in shares of Deere & Company during the second quarter worth about $26,000. Livelsberger Financial Advisory acquired a new position in shares of Deere & Company during the third quarter worth about $32,000. Modus Advisors LLC acquired a new position in shares of Deere & Company during the fourth quarter worth about $32,000. Centennial Bank AR lifted its stake in shares of Deere & Company by 420.0% during the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 84 shares in the last quarter. Finally, Continuum Advisory LLC lifted its stake in shares of Deere & Company by 155.8% during the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after purchasing an additional 67 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Barclays boosted their price objective on Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Oppenheimer boosted their price objective on Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Truist Financial boosted their price objective on Deere & Company from $538.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Jefferies Financial Group cut Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target on the stock. in a research note on Friday, December 6th. Finally, JPMorgan Chase & Co. boosted their price target on Deere & Company from $450.00 to $470.00 and gave the stock a “neutral” rating in a research note on Wednesday. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $442.83.

Deere & Company Trading Down 0.8 %

Shares of NYSE DE opened at $428.84 on Thursday. The stock’s 50 day moving average price is $429.20 and its two-hundred day moving average price is $400.87. Deere & Company has a 52-week low of $340.20 and a 52-week high of $469.39. The stock has a market capitalization of $116.80 billion, a P/E ratio of 16.75, a PEG ratio of 1.88 and a beta of 0.98. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.89 by $0.66. The firm had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. Deere & Company’s revenue for the quarter was down 32.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $8.26 earnings per share. On average, analysts anticipate that Deere & Company will post 19.41 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a dividend yield of 1.51%. Deere & Company’s dividend payout ratio is 25.31%.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.