Marcum Wealth LLC Sells 172 Shares of Deere & Company (NYSE:DE)

Marcum Wealth LLC lessened its holdings in Deere & Company (NYSE:DE) by 22.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 586 shares of the industrial products company’s stock after selling 172 shares during the period. Marcum Wealth LLC’s holdings in Deere & Company were worth $248,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Federated Hermes Inc. lifted its holdings in Deere & Company by 2.1% during the 2nd quarter. Federated Hermes Inc. now owns 15,896 shares of the industrial products company’s stock worth $5,939,000 after purchasing an additional 332 shares during the last quarter. One Capital Management LLC bought a new stake in shares of Deere & Company in the second quarter valued at about $272,000. Edgestream Partners L.P. acquired a new position in shares of Deere & Company in the second quarter valued at about $216,000. Mutual of America Capital Management LLC increased its position in Deere & Company by 5.5% during the second quarter. Mutual of America Capital Management LLC now owns 41,179 shares of the industrial products company’s stock worth $15,386,000 after acquiring an additional 2,153 shares during the period. Finally, Tredje AP fonden raised its stake in Deere & Company by 50.2% in the 2nd quarter. Tredje AP fonden now owns 244,059 shares of the industrial products company’s stock worth $91,188,000 after purchasing an additional 81,600 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Performance

Deere & Company stock opened at $428.84 on Thursday. The business has a 50 day moving average of $429.20 and a 200-day moving average of $400.87. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. Deere & Company has a 1 year low of $340.20 and a 1 year high of $469.39. The company has a market capitalization of $116.80 billion, a P/E ratio of 16.75, a P/E/G ratio of 1.88 and a beta of 0.98.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.89 by $0.66. The firm had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The company’s revenue was down 32.8% on a year-over-year basis. During the same period in the prior year, the company posted $8.26 EPS. On average, equities research analysts predict that Deere & Company will post 19.41 earnings per share for the current year.

Deere & Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $1.62 per share. The ex-dividend date is Tuesday, December 31st. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a yield of 1.51%. Deere & Company’s payout ratio is presently 25.31%.

Analyst Upgrades and Downgrades

DE has been the topic of several recent research reports. Oppenheimer raised their target price on shares of Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Barclays lifted their price objective on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Citigroup reduced their target price on Deere & Company from $470.00 to $430.00 and set a “neutral” rating on the stock in a report on Tuesday. Jefferies Financial Group downgraded Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price target for the company. in a research note on Friday, December 6th. Finally, Truist Financial raised their target price on shares of Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Deere & Company presently has an average rating of “Hold” and an average target price of $442.83.

Deere & Company Profile

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.