Kovack Advisors Inc. Trims Stock Position in Deere & Company (NYSE:DE)

Kovack Advisors Inc. lessened its stake in Deere & Company (NYSE:DE) by 41.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 692 shares of the industrial products company’s stock after selling 500 shares during the period. Kovack Advisors Inc.’s holdings in Deere & Company were worth $277,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Briaud Financial Planning Inc purchased a new position in Deere & Company during the 3rd quarter worth approximately $25,000. ZRC Wealth Management LLC acquired a new position in shares of Deere & Company in the 4th quarter valued at $28,000. Rakuten Securities Inc. acquired a new position in shares of Deere & Company in the 4th quarter valued at $28,000. Naples Money Management LLC purchased a new stake in Deere & Company in the 4th quarter valued at $29,000. Finally, Bfsg LLC acquired a new stake in Deere & Company during the 4th quarter worth $30,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Trading Up 1.9 %

Shares of DE stock opened at $400.91 on Tuesday. The stock has a market cap of $111.60 billion, a P/E ratio of 11.67, a P/E/G ratio of 1.48 and a beta of 1.04. 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 has a fifty-two week low of $345.55 and a fifty-two week high of $450.00. The business has a fifty day simple moving average of $388.66 and a 200-day simple moving average of $383.65.

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

Deere & Company Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Melius cut shares of Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Truist Financial started coverage on Deere & Company in a research report on Thursday, March 14th. They set a “buy” rating and a $494.00 price objective for the company. Melius Research reiterated a “hold” rating on shares of Deere & Company in a research note on Monday, January 8th. JPMorgan Chase & Co. upped their price objective on shares of Deere & Company from $415.00 to $425.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Finally, Wells Fargo & Company cut their target price on Deere & Company from $445.00 to $425.00 and set an “overweight” rating for the company in a research note on Friday, February 16th. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $433.28.

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.