Deere & Company (NYSE:DE) Shares Sold by Wallington Asset Management LLC

Wallington Asset Management LLC lessened its holdings in Deere & Company (NYSE:DE) by 0.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 26,303 shares of the industrial products company’s stock after selling 250 shares during the period. Deere & Company makes up 1.6% of Wallington Asset Management LLC’s holdings, making the stock its 28th biggest holding. Wallington Asset Management LLC’s holdings in Deere & Company were worth $11,145,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of DE. Premier Path Wealth Partners LLC grew its position in Deere & Company by 17.1% during the fourth quarter. Premier Path Wealth Partners LLC now owns 3,121 shares of the industrial products company’s stock valued at $1,322,000 after buying an additional 456 shares during the period. Sanibel Captiva Trust Company Inc. increased its holdings in Deere & Company by 5.4% in the 4th quarter. Sanibel Captiva Trust Company Inc. now owns 5,998 shares of the industrial products company’s stock worth $2,541,000 after acquiring an additional 307 shares in the last quarter. Alhambra Investment Management LLC raised its position in Deere & Company by 3.8% during the fourth quarter. Alhambra Investment Management LLC now owns 770 shares of the industrial products company’s stock worth $326,000 after acquiring an additional 28 shares during the period. Spring Capital Management LLC increased its stake in shares of Deere & Company by 3.1% during the fourth quarter. Spring Capital Management LLC now owns 19,093 shares of the industrial products company’s stock worth $8,090,000 after purchasing an additional 579 shares in the last quarter. Finally, Lake Street Private Wealth LLC raised its holdings in shares of Deere & Company by 19.9% during the fourth quarter. Lake Street Private Wealth LLC now owns 777 shares of the industrial products company’s stock valued at $329,000 after acquiring an additional 129 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Up 4.0 %

DE opened at $456.57 on Friday. The firm has a 50 day moving average price of $430.22 and a 200 day moving average price of $401.33. Deere & Company has a 1 year low of $340.20 and a 1 year high of $469.39. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. The company has a market cap of $124.00 billion, a PE ratio of 17.83, a price-to-earnings-growth ratio of 1.74 and a beta of 0.98.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping analysts’ consensus estimates of $3.89 by $0.66. The firm had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The firm’s revenue was down 32.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $8.26 EPS. Sell-side analysts expect that Deere & Company will post 19.57 earnings per share for the current year.

Deere & Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $1.62 per share. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.42%. Deere & Company’s dividend payout ratio is 25.31%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on DE. Oppenheimer upped their target price on shares of Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Barclays boosted their price objective on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Jefferies Financial Group lowered Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target for the company. in a research report on Friday, December 6th. Morgan Stanley boosted their price objective on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Finally, Citigroup lowered their target price on Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a report on Tuesday. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $442.83.

Deere & Company Profile

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.