Traynor Capital Management Inc. Trims Stake in Deere & Company (NYSE:DE)

Traynor Capital Management Inc. trimmed its stake in shares of Deere & Company (NYSE:DE - Free Report) by 7.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,477 shares of the industrial products company's stock after selling 1,492 shares during the quarter. Traynor Capital Management Inc.'s holdings in Deere & Company were worth $7,829,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Everence Capital Management Inc. boosted its position in shares of Deere & Company by 148.3% during the 4th quarter. Everence Capital Management Inc. now owns 12,223 shares of the industrial products company's stock valued at $5,179,000 after purchasing an additional 7,300 shares in the last quarter. Stockbridge Partners LLC lifted its stake in Deere & Company by 157.5% in the third quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company's stock valued at $369,019,000 after buying an additional 540,874 shares during the period. Toronto Dominion Bank boosted its holdings in shares of Deere & Company by 1.5% during the 3rd quarter. Toronto Dominion Bank now owns 86,952 shares of the industrial products company's stock worth $36,288,000 after buying an additional 1,291 shares in the last quarter. Chase Investment Counsel Corp grew its position in shares of Deere & Company by 53.8% during the 3rd quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company's stock worth $1,669,000 after buying an additional 1,400 shares during the period. Finally, Czech National Bank increased its stake in shares of Deere & Company by 5.7% in the 4th quarter. Czech National Bank now owns 55,170 shares of the industrial products company's stock valued at $23,376,000 after acquiring an additional 2,964 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

DE has been the topic of several research analyst reports. Barclays increased their target price on shares of Deere & Company from $400.00 to $475.00 and gave the stock an "overweight" rating in a research note on Friday, November 22nd. Truist Financial raised their target price on Deere & Company from $538.00 to $550.00 and gave the company a "buy" rating in a research note on Thursday, December 19th. UBS Group upped their price target on Deere & Company from $404.00 to $462.00 and gave the stock a "neutral" rating in a research note on Friday, November 22nd. Citigroup reduced their price objective on Deere & Company from $470.00 to $430.00 and set a "neutral" rating for the company in a research note on Tuesday, January 14th. Finally, Jefferies Financial Group lowered Deere & Company from a "buy" rating to a "hold" rating and set a $510.00 target price on the stock. in a research report on Friday, December 6th. Eleven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $442.83.

Deere & Company Stock Performance

Deere & Company stock traded up $15.47 during mid-day trading on Thursday, reaching $475.22. 1,933,404 shares of the company's stock were exchanged, compared to its average volume of 1,407,168. The firm has a market capitalization of $129.43 billion, a PE ratio of 18.56, a P/E/G ratio of 2.86 and a beta of 0.98. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. The business's fifty day simple moving average is $435.34 and its 200 day simple moving average is $404.30. Deere & Company has a one year low of $340.20 and a one year high of $475.92.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share 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 the consensus estimate of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The firm's quarterly revenue was down 32.8% on a year-over-year basis. During the same period in the previous year, the firm earned $8.26 EPS. On average, sell-side analysts expect that Deere & Company will post 19.34 earnings per share for the current year.

Deere & Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Stockholders 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 annualized dividend and a dividend yield of 1.36%. This is a positive change from Deere & Company's previous quarterly dividend of $1.47. Deere & Company's dividend payout ratio (DPR) is presently 25.31%.

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.