Fulton Breakefield Broenniman LLC Has $365,000 Position in Deere & Company (NYSE:DE)

Fulton Breakefield Broenniman LLC lowered its stake in shares of Deere & Company (NYSE:DE) by 4.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 912 shares of the industrial products company’s stock after selling 39 shares during the quarter. Fulton Breakefield Broenniman LLC’s holdings in Deere & Company were worth $365,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in DE. Morgan Stanley boosted its holdings in shares of Deere & Company by 1.3% in the 3rd quarter. Morgan Stanley now owns 5,089,159 shares of the industrial products company’s stock valued at $1,920,548,000 after purchasing an additional 65,006 shares in the last quarter. FMR LLC boosted 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 valued at $1,650,767,000 after purchasing an additional 269,571 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Deere & Company by 2.5% in the 3rd quarter. Northern Trust Corp now owns 3,061,715 shares of the industrial products company’s stock valued at $1,155,430,000 after acquiring an additional 73,601 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Deere & Company by 2.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,539,699 shares of the industrial products company’s stock valued at $581,052,000 after acquiring an additional 33,946 shares during the last quarter. Finally, Rothschild & Co Wealth Management UK Ltd lifted its stake in shares of Deere & Company by 1.1% in the 3rd quarter. Rothschild & Co Wealth Management UK Ltd now owns 1,146,220 shares of the industrial products company’s stock valued at $432,561,000 after acquiring an additional 12,825 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of Deere & Company stock traded down $0.73 during mid-day trading on Friday, hitting $393.33. 998,338 shares of the stock were exchanged, compared to its average volume of 1,243,125. Deere & Company has a 12 month low of $345.55 and a 12 month high of $450.00. The company has a 50-day simple moving average of $387.86 and a 200 day simple moving average of $383.61. 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 company has a market capitalization of $109.49 billion, a P/E ratio of 11.45, a P/E/G ratio of 1.48 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, topping the consensus estimate of $5.19 by $1.04. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The firm had revenue of $10.49 billion for the quarter, compared to analysts’ expectations of $10.30 billion. During the same quarter last year, the firm earned $6.55 EPS. The company’s quarterly revenue was down 8.0% compared to the same quarter last year. Sell-side analysts anticipate that Deere & Company will post 27.37 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

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 issued a $1.47 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.49%. Deere & Company’s dividend payout ratio (DPR) is presently 17.12%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on DE. Melius cut Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Morgan Stanley began coverage on Deere & Company in a research note on Monday, January 8th. They issued an “overweight” rating and a $430.00 price target for the company. Deutsche Bank Aktiengesellschaft dropped their price target on Deere & Company from $425.00 to $401.00 and set a “hold” rating for the company in a research note on Friday, February 16th. Stifel Nicolaus dropped their price target on Deere & Company from $435.00 to $425.00 and set a “buy” rating for the company in a research note on Friday, February 16th. Finally, Truist Financial assumed coverage on Deere & Company in a research note on Thursday, March 14th. They issued a “buy” rating and a $494.00 price target for the company. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price 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.