Solidarity Wealth LLC Sells 4,390 Shares of Deere & Company (NYSE:DE)

Solidarity Wealth LLC reduced its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 74.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,524 shares of the industrial products company's stock after selling 4,390 shares during the period. Solidarity Wealth LLC's holdings in Deere & Company were worth $648,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of DE. Wellington Management Group LLP grew its stake in shares of Deere & Company by 32.0% in the 3rd quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company's stock worth $3,068,404,000 after buying an additional 1,782,984 shares during the last quarter. FMR LLC boosted its holdings in Deere & Company by 27.8% in the third quarter. FMR LLC now owns 4,542,013 shares of the industrial products company's stock worth $1,895,518,000 after acquiring an additional 988,380 shares in the last quarter. Pathway Financial Advisers LLC grew its stake in shares of Deere & Company by 53,338.6% in the third quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company's stock worth $356,602,000 after acquiring an additional 852,885 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Deere & Company by 46,892.9% in the third quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company's stock worth $322,218,000 after acquiring an additional 770,451 shares during the last quarter. Finally, Stockbridge Partners LLC increased its holdings in shares of Deere & Company by 157.5% during the third quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company's stock valued at $369,019,000 after acquiring an additional 540,874 shares in the last quarter. Institutional investors own 68.58% of the company's stock.

Deere & Company Stock Performance

DE traded up $7.62 during trading on Tuesday, hitting $463.06. The company's stock had a trading volume of 1,733,614 shares, compared to its average volume of 1,386,234. The business's 50 day simple moving average is $432.55 and its 200-day simple moving average is $403.19. The firm has a market cap of $126.11 billion, a PE ratio of 18.09, a P/E/G ratio of 2.81 and a beta of 0.98. Deere & Company has a one year low of $340.20 and a one year high of $469.39. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89.

Deere & Company (NYSE:DE - Get Free Report) last announced its earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping analysts' consensus estimates of $3.89 by $0.66. The company had revenue of $9.28 billion for the quarter, compared to analysts' expectations 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 for the quarter was down 32.8% compared to the same quarter last year. During the same period last year, the firm earned $8.26 EPS. As a group, sell-side analysts predict that Deere & Company will post 19.34 EPS for the current fiscal year.

Deere & Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.40%. This is a positive change from Deere & Company's previous quarterly dividend of $1.47. The ex-dividend date of this dividend is Tuesday, December 31st. Deere & Company's dividend payout ratio is currently 25.31%.

Analyst Upgrades and Downgrades

DE has been the topic of a number of analyst reports. Jefferies Financial Group cut shares of Deere & Company from a "buy" rating to a "hold" rating and set a $510.00 price target on the stock. in a research note on Friday, December 6th. Barclays increased their price target on shares of Deere & Company from $400.00 to $475.00 and gave the company an "overweight" rating in a report on Friday, November 22nd. Truist Financial boosted their price objective on shares of Deere & Company from $538.00 to $550.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Morgan Stanley increased 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. Finally, JPMorgan Chase & Co. boosted their price target on Deere & Company from $450.00 to $470.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 15th. Eleven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $442.83.

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.