Schear Investment Advisers LLC Has $1.11 Million Stock Position in Deere & Company (NYSE:DE)

Schear Investment Advisers LLC reduced its position in Deere & Company (NYSE:DE) by 4.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,773 shares of the industrial products company’s stock after selling 143 shares during the period. Deere & Company accounts for approximately 1.1% of Schear Investment Advisers LLC’s investment portfolio, making the stock its 29th largest holding. Schear Investment Advisers LLC’s holdings in Deere & Company were worth $1,109,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. RB Capital Management LLC boosted its position in shares of Deere & Company by 5.2% in the 1st quarter. RB Capital Management LLC now owns 1,637 shares of the industrial products company’s stock worth $680,000 after purchasing an additional 81 shares during the last quarter. Bornite Capital Management LP bought a new position in Deere & Company during the first quarter worth about $14,541,000. Retirement Income Solutions Inc bought a new position in Deere & Company during the first quarter worth about $229,000. Sequoia Financial Advisors LLC lifted its holdings in Deere & Company by 27.1% during the first quarter. Sequoia Financial Advisors LLC now owns 2,442 shares of the industrial products company’s stock worth $1,014,000 after acquiring an additional 521 shares in the last quarter. Finally, Baird Financial Group Inc. lifted its holdings in Deere & Company by 32.4% during the first quarter. Baird Financial Group Inc. now owns 114,322 shares of the industrial products company’s stock worth $47,496,000 after acquiring an additional 27,985 shares in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Performance

NYSE DE traded down $0.12 during trading on Friday, reaching $400.48. 479,783 shares of the company’s stock were exchanged, compared to its average volume of 1,487,239. Deere & Company has a fifty-two week low of $345.55 and a fifty-two week high of $450.00. The business has a 50 day moving average price of $385.47 and a 200-day moving average price of $382.79. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.05 and a quick ratio of 1.81. The stock has a market capitalization of $111.48 billion, a P/E ratio of 11.71, a PEG ratio of 1.49 and a beta of 1.04.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, beating the consensus estimate of $5.19 by $1.04. The company had revenue of $10.49 billion for the quarter, compared to the consensus estimate of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $6.55 earnings per share. Sell-side analysts forecast that Deere & Company will post 27.39 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

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

Analysts Set New Price Targets

DE has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft reduced their target price on Deere & Company from $425.00 to $401.00 and set a “hold” rating on the stock in a report on Friday, February 16th. Evercore ISI boosted their price target on Deere & Company from $381.00 to $387.00 and gave the company an “in-line” rating in a report on Tuesday, February 20th. Citigroup cut their price target on Deere & Company from $450.00 to $435.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Melius Research restated a “hold” rating on shares of Deere & Company in a report on Monday, January 8th. Finally, Truist Financial began coverage on Deere & Company in a research report on Thursday, March 14th. They issued a “buy” rating and a $494.00 target price on the stock. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $433.28.

About Deere & Company

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.