Deere & Company (NYSE:DE) Shares Sold by FRG Family Wealth Advisors LLC

FRG Family Wealth Advisors LLC decreased its position in shares of Deere & Company (NYSE:DE) by 0.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,512 shares of the industrial products company’s stock after selling 115 shares during the period. Deere & Company accounts for approximately 1.2% of FRG Family Wealth Advisors LLC’s portfolio, making the stock its 20th biggest holding. FRG Family Wealth Advisors LLC’s holdings in Deere & Company were worth $6,891,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in DE. Maia Wealth LLC acquired a new position in Deere & Company during the second quarter worth approximately $379,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Deere & Company by 5.6% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 82,110 shares of the industrial products company’s stock valued at $30,679,000 after purchasing an additional 4,329 shares during the last quarter. Great Valley Advisor Group Inc. grew its stake in shares of Deere & Company by 3.8% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 5,765 shares of the industrial products company’s stock valued at $2,153,000 after purchasing an additional 211 shares during the last quarter. ORG Partners LLC purchased a new position in shares of Deere & Company in the 2nd quarter valued at approximately $366,000. Finally, GPS Wealth Strategies Group LLC grew its stake in shares of Deere & Company by 12.4% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 1,454 shares of the industrial products company’s stock valued at $543,000 after purchasing an additional 160 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Up 1.2 %

Deere & Company stock opened at $449.27 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. The firm has a market capitalization of $122.92 billion, a price-to-earnings ratio of 17.55, a price-to-earnings-growth ratio of 1.90 and a beta of 0.96. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $469.39. The stock’s fifty day moving average is $418.17 and its two-hundred day moving average is $390.83.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating the consensus estimate of $3.89 by $0.66. The company had revenue of $9.28 billion for the quarter, compared to analyst estimates 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 was down 32.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $8.26 earnings per share. Analysts predict that Deere & Company will post 19.52 EPS for the current fiscal year.

Deere & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be paid a dividend of $1.62 per share. The ex-dividend date is Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.44%. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio (DPR) is presently 22.97%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on DE. Morgan Stanley lifted their target price on Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. JPMorgan Chase & Co. lifted their target price on Deere & Company from $420.00 to $450.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Oppenheimer lifted their target price on Deere & Company from $448.00 to $477.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Truist Financial lifted their price target on Deere & Company from $496.00 to $538.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Finally, Citigroup upped their price objective on Deere & Company from $460.00 to $470.00 and gave the stock a “neutral” rating in a report on Monday. Thirteen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Deere & Company currently has an average rating of “Hold” and a consensus target price of $443.28.

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.