Deere & Company (NYSE:DE) Shares Sold by TCI Wealth Advisors Inc.

TCI Wealth Advisors Inc. lowered its holdings in Deere & Company (NYSE:DE) by 5.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,499 shares of the industrial products company’s stock after selling 93 shares during the period. TCI Wealth Advisors Inc.’s holdings in Deere & Company were worth $599,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in DE. Pinnacle Associates Ltd. boosted its stake in shares of Deere & Company by 21.3% during the 4th quarter. Pinnacle Associates Ltd. now owns 5,355 shares of the industrial products company’s stock valued at $2,141,000 after buying an additional 939 shares during the last quarter. Penserra Capital Management LLC raised its holdings in Deere & Company by 2.4% in the third quarter. Penserra Capital Management LLC now owns 236,696 shares of the industrial products company’s stock valued at $89,322,000 after acquiring an additional 5,485 shares in the last quarter. New Mexico Educational Retirement Board boosted its stake in Deere & Company by 6.9% during the 3rd quarter. New Mexico Educational Retirement Board now owns 14,002 shares of the industrial products company’s stock valued at $5,284,000 after acquiring an additional 900 shares during the last quarter. Summit Asset Management LLC grew its holdings in Deere & Company by 24.1% during the 4th quarter. Summit Asset Management LLC now owns 1,030 shares of the industrial products company’s stock worth $412,000 after acquiring an additional 200 shares in the last quarter. Finally, Centric Wealth Management bought a new stake in shares of Deere & Company in the 3rd quarter worth about $2,640,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DE has been the topic of several research analyst reports. Truist Financial initiated coverage on shares of Deere & Company in a research report on Thursday, March 14th. They set a “buy” rating and a $494.00 price target on the stock. Morgan Stanley assumed coverage on Deere & Company in a research report on Monday, January 8th. They issued an “overweight” rating and a $430.00 target price for the company. Deutsche Bank Aktiengesellschaft dropped their price target on Deere & Company from $425.00 to $401.00 and set a “hold” rating on the stock in a research report on Friday, February 16th. Wells Fargo & Company reduced their price objective on Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a research note on Friday, February 16th. Finally, Melius Research reiterated a “hold” rating on shares of Deere & Company in a research note on Monday, January 8th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $433.28.

Deere & Company Stock Performance

Shares of NYSE DE traded up $5.00 during midday trading on Friday, hitting $400.96. 1,626,960 shares of the company’s stock were exchanged, compared to its average volume of 1,337,641. Deere & Company has a twelve month low of $345.55 and a twelve month high of $450.00. 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 firm has a market cap of $111.61 billion, a P/E ratio of 11.68, a PEG ratio of 1.51 and a beta of 1.04. The stock’s 50 day moving average price is $391.45 and its 200-day moving average price is $383.87.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (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 analyst estimates of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The firm’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.55 EPS. Equities research analysts anticipate that Deere & Company will post 27.37 EPS for the current year.

Deere & Company Announces Dividend

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

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.