Deere & Company (NYSE:DE) Shares Sold by Alpha Cubed Investments LLC

Alpha Cubed Investments LLC trimmed its stake in Deere & Company (NYSE:DE) by 9.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,954 shares of the industrial products company’s stock after selling 200 shares during the period. Alpha Cubed Investments LLC’s holdings in Deere & Company were worth $828,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. DLK Investment Management LLC grew its position in Deere & Company by 0.3% in the 4th quarter. DLK Investment Management LLC now owns 8,212 shares of the industrial products company’s stock valued at $3,479,000 after acquiring an additional 24 shares in the last quarter. Mattern Wealth Management LLC increased its stake in Deere & Company by 1.3% during the 3rd quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock worth $786,000 after buying an additional 25 shares during the period. Carret Asset Management LLC lifted its holdings in Deere & Company by 0.3% during the 3rd quarter. Carret Asset Management LLC now owns 8,148 shares of the industrial products company’s stock worth $3,401,000 after buying an additional 25 shares in the last quarter. Round Rock Advisors LLC boosted its position in Deere & Company by 2.0% in the 3rd quarter. Round Rock Advisors LLC now owns 1,252 shares of the industrial products company’s stock valued at $522,000 after buying an additional 25 shares during the period. Finally, Douglas Lane & Associates LLC boosted its position in Deere & Company by 4.7% in the 4th quarter. Douglas Lane & Associates LLC now owns 557 shares of the industrial products company’s stock valued at $236,000 after buying an additional 25 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on DE. JPMorgan Chase & Co. lifted their target price on Deere & Company from $450.00 to $470.00 and gave the company a “neutral” rating in a report on Wednesday, January 15th. UBS Group lifted their price objective on Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. 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 research note on Friday, November 22nd. Jefferies Financial Group downgraded shares of Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target for the company. in a research note on Friday, December 6th. Finally, Barclays boosted their price target on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Eleven analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $442.83.

Deere & Company Price Performance

Shares of DE opened at $456.57 on Tuesday. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $469.39. The firm has a 50-day simple moving average of $432.55 and a 200-day simple moving average of $403.19. The company has a market capitalization of $124.35 billion, a price-to-earnings ratio of 17.83, a price-to-earnings-growth ratio of 2.81 and a beta of 0.98.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping the consensus estimate of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The business had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. During the same quarter in the prior year, the business earned $8.26 earnings per share. The company’s quarterly revenue was down 32.8% compared to the same quarter last year. On average, equities research analysts anticipate that Deere & Company will post 19.34 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. Investors of record on Tuesday, December 31st will be paid a $1.62 dividend. The ex-dividend date is Tuesday, December 31st. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.42%. Deere & Company’s payout ratio is 25.31%.

Deere & Company 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.