Stamos Capital Partners L.P. Decreases Position in Deere & Company (NYSE:DE)

Stamos Capital Partners L.P. reduced its position in Deere & Company (NYSE:DE - Free Report) by 33.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,110 shares of the industrial products company's stock after selling 2,020 shares during the quarter. Stamos Capital Partners L.P.'s holdings in Deere & Company were worth $1,741,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in Deere & Company during the 4th quarter valued at approximately $1,244,094,000. FMR LLC grew its holdings in Deere & Company by 22.9% during the 4th quarter. FMR LLC now owns 5,581,408 shares of the industrial products company's stock valued at $2,364,843,000 after buying an additional 1,039,395 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Deere & Company during the fourth quarter valued at approximately $296,232,000. Proficio Capital Partners LLC lifted its holdings in shares of Deere & Company by 52,200.3% in the fourth quarter. Proficio Capital Partners LLC now owns 530,848 shares of the industrial products company's stock worth $224,920,000 after buying an additional 529,833 shares in the last quarter. Finally, Strategic Wealth Investment Group LLC bought a new position in shares of Deere & Company during the fourth quarter worth $148,359,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Trading Down 1.4 %

Shares of NYSE DE traded down $6.36 during trading hours on Tuesday, reaching $461.31. The stock had a trading volume of 1,143,016 shares, compared to its average volume of 1,431,668. Deere & Company has a 52-week low of $340.20 and a 52-week high of $515.05. The firm has a market cap of $125.21 billion, a price-to-earnings ratio of 20.45, a P/E/G ratio of 2.14 and a beta of 1.00. The business's fifty day moving average price is $470.85 and its two-hundred day moving average price is $443.98. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94.

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Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The industrial products company reported $3.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.14 by $0.05. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. Analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 8th. Stockholders of record on Monday, March 31st will be given a $1.62 dividend. The ex-dividend date is Monday, March 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.40%. Deere & Company's payout ratio is presently 28.72%.

Insider Transactions at Deere & Company

In other Deere & Company news, insider Rajesh Kalathur sold 24,580 shares of Deere & Company stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $500.61, for a total value of $12,304,993.80. Following the transaction, the insider now owns 74,878 shares in the company, valued at $37,484,675.58. The trade was a 24.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.29% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on DE. Argus set a $510.00 price objective on shares of Deere & Company in a report on Friday, March 7th. Evercore ISI increased their price target on Deere & Company from $437.00 to $455.00 and gave the company an "in-line" rating in a research note on Wednesday, February 19th. Citigroup decreased their price objective on Deere & Company from $480.00 to $450.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Truist Financial reissued a "buy" rating and issued a $546.00 target price (down from $550.00) on shares of Deere & Company in a report on Friday, February 14th. Finally, UBS Group decreased their price target on shares of Deere & Company from $462.00 to $440.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $457.26.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.