Mokosak Advisory Group LLC Cuts Position in Deere & Company (NYSE:DE)

Mokosak Advisory Group LLC reduced its holdings in shares of Deere & Company (NYSE:DE) by 5.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,057 shares of the industrial products company’s stock after selling 64 shares during the quarter. Deere & Company makes up 0.2% of Mokosak Advisory Group LLC’s investment portfolio, making the stock its 18th largest position. Mokosak Advisory Group LLC’s holdings in Deere & Company were worth $423,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Retirement Group LLC increased its holdings in Deere & Company by 264.7% during the 2nd quarter. Retirement Group LLC now owns 62 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 45 shares in the last quarter. Briaud Financial Planning Inc purchased a new position in Deere & Company during the 3rd quarter valued at about $25,000. Rakuten Securities Inc. acquired a new stake in shares of Deere & Company during the 4th quarter worth about $28,000. ZRC Wealth Management LLC acquired a new stake in shares of Deere & Company during the 4th quarter worth about $28,000. Finally, Worth Asset Management LLC acquired a new stake in shares of Deere & Company during the 1st quarter worth about $28,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Up 1.0 %

Shares of DE traded up $3.99 during mid-day trading on Thursday, reaching $400.87. 1,562,911 shares of the stock traded hands, compared to its average volume of 1,501,047. The firm has a market cap of $111.59 billion, a price-to-earnings ratio of 11.68, a P/E/G ratio of 1.48 and a beta of 1.04. The stock has a fifty day simple moving average of $385.17 and a 200 day simple moving average of $382.66. Deere & Company has a 12-month low of $345.55 and a 12-month high of $450.00. The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 1.81.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.19 by $1.04. The company had revenue of $10.49 billion for the quarter, compared to analyst estimates of $10.30 billion. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The business’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter last year, the firm posted $6.55 earnings per share. Sell-side analysts expect that Deere & Company will post 27.39 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.47%. Deere & Company’s dividend payout ratio is currently 17.12%.

Wall Street Analyst Weigh In

Several research firms have issued reports on DE. Truist Financial began coverage on shares of Deere & Company in a research note on Thursday, March 14th. They set a “buy” rating and a $494.00 price target on the stock. Wells Fargo & Company decreased their target price on shares of Deere & Company from $445.00 to $425.00 and set an “overweight” rating on the stock in a research report on Friday, February 16th. Citigroup decreased their target price on shares of Deere & Company from $450.00 to $435.00 and set a “buy” rating on the stock in a research report on Friday, February 16th. Melius cut shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Deere & Company from $425.00 to $401.00 and set a “hold” rating on the stock in a research report on Friday, February 16th. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Deere & Company currently has a consensus rating of “Hold” and a consensus target price of $433.28.

Deere & Company 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.