Argyle Capital Management Inc. Has $5.38 Million Stake in Deere & Company (NYSE:DE)

Argyle Capital Management Inc. decreased its position in shares of Deere & Company (NYSE:DE) by 9.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,458 shares of the industrial products company’s stock after selling 1,470 shares during the period. Deere & Company makes up about 2.2% of Argyle Capital Management Inc.’s investment portfolio, making the stock its 8th largest position. Argyle Capital Management Inc.’s holdings in Deere & Company were worth $5,381,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Monumental Financial Group Inc. lifted its stake in shares of Deere & Company by 2.2% during the 4th quarter. Monumental Financial Group Inc. now owns 2,745 shares of the industrial products company’s stock worth $1,098,000 after acquiring an additional 60 shares during the last quarter. Silver Oak Securities Incorporated boosted its stake in shares of Deere & Company by 38.3% during the fourth quarter. Silver Oak Securities Incorporated now owns 1,362 shares of the industrial products company’s stock valued at $545,000 after purchasing an additional 377 shares during the period. Stonebrook Private Inc. purchased a new stake in shares of Deere & Company during the fourth quarter valued at $528,000. Opinicus Capital Inc. bought a new position in shares of Deere & Company in the fourth quarter worth about $1,195,000. Finally, Cedar Point Capital Partners LLC purchased a new position in Deere & Company in the 4th quarter worth about $666,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on DE. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Deere & Company from $425.00 to $401.00 and set a “hold” rating for the company in a research report on Friday, February 16th. Truist Financial began coverage on Deere & Company in a report on Thursday, March 14th. They set a “buy” rating and a $494.00 price objective on the stock. Citigroup lowered their target price on Deere & Company from $450.00 to $435.00 and set a “buy” rating for the company in a report on Friday, February 16th. Morgan Stanley initiated coverage on Deere & Company in a research report on Monday, January 8th. They set an “overweight” rating and a $430.00 price target on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on Deere & Company from $415.00 to $425.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $433.28.

Deere & Company Stock Down 0.2 %

NYSE:DE traded down $0.73 during midday trading on Friday, reaching $393.33. 998,338 shares of the stock traded hands, compared to its average volume of 1,243,125. The stock has a market capitalization of $109.49 billion, a PE ratio of 11.45, a price-to-earnings-growth ratio of 1.48 and a beta of 1.04. Deere & Company has a 12-month low of $345.55 and a 12-month high of $450.00. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.81 and a current ratio of 2.05. The business has a 50-day moving average of $387.86 and a two-hundred day moving average of $383.52.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.19 by $1.04. The business had revenue of $10.49 billion for the quarter, compared to the consensus estimate of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The business’s quarterly revenue was down 8.0% on a year-over-year basis. During the same period in the prior year, the firm posted $6.55 earnings per share. On average, equities analysts forecast that Deere & Company will post 27.37 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th will be issued a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.49%. The ex-dividend date is Wednesday, March 27th. Deere & Company’s dividend payout ratio is presently 17.12%.

Deere & 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.