Keel Point LLC Sells 109 Shares of Deere & Company (NYSE:DE)

Keel Point LLC decreased its stake in shares of Deere & Company (NYSE:DE) by 16.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 536 shares of the industrial products company’s stock after selling 109 shares during the quarter. Keel Point LLC’s holdings in Deere & Company were worth $214,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Morgan Stanley grew its stake in Deere & Company by 1.3% in the third quarter. Morgan Stanley now owns 5,089,159 shares of the industrial products company’s stock worth $1,920,548,000 after purchasing an additional 65,006 shares in the last quarter. FMR LLC lifted its holdings in shares of Deere & Company by 6.6% in the 3rd quarter. FMR LLC now owns 4,374,282 shares of the industrial products company’s stock worth $1,650,767,000 after buying an additional 269,571 shares during the period. Moneta Group Investment Advisors LLC lifted its holdings in shares of Deere & Company by 104,373.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,219,883 shares of the industrial products company’s stock worth $1,380,557,000 after buying an additional 3,216,801 shares during the period. Norges Bank bought a new position in shares of Deere & Company during the 4th quarter worth $1,326,177,000. Finally, Northern Trust Corp increased its stake in shares of Deere & Company by 2.5% during the third quarter. Northern Trust Corp now owns 3,061,715 shares of the industrial products company’s stock valued at $1,155,430,000 after buying an additional 73,601 shares during the period. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Price Performance

Shares of NYSE DE opened at $393.11 on Wednesday. Deere & Company has a fifty-two week low of $345.55 and a fifty-two week high of $450.00. The company has a market cap of $109.43 billion, a PE ratio of 11.45, a P/E/G ratio of 1.48 and a beta of 1.04. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.81 and a current ratio of 2.05. The business has a 50-day simple moving average of $384.95 and a two-hundred day simple moving average of $382.56.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, topping analysts’ consensus estimates of $5.19 by $1.04. The company had revenue of $10.49 billion during the quarter, compared to analysts’ expectations of $10.30 billion. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. Deere & Company’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period last year, the business earned $6.55 EPS. As a group, equities analysts expect that Deere & Company will post 27.41 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th will be issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date is Wednesday, March 27th. Deere & Company’s dividend payout ratio (DPR) is presently 17.12%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on DE shares. Morgan Stanley began coverage on shares of Deere & Company in a research note on Monday, January 8th. They issued an “overweight” rating and a $430.00 price objective for the company. Truist Financial started 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 on the stock. Stifel Nicolaus cut their price objective on shares of Deere & Company from $435.00 to $425.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Melius lowered Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Finally, JPMorgan Chase & Co. lifted their price target on Deere & Company from $415.00 to $425.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $433.28.

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.