First Horizon Advisors Inc. Decreases Position in Deere & Company (NYSE:DE)

First Horizon Advisors Inc. trimmed its holdings in shares of Deere & Company (NYSE:DE) by 4.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,667 shares of the industrial products company’s stock after selling 83 shares during the quarter. First Horizon Advisors Inc.’s holdings in Deere & Company were worth $667,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Briaud Financial Planning Inc acquired a new position in shares of Deere & Company during the third quarter valued at about $25,000. ZRC Wealth Management LLC acquired a new position in Deere & Company during the 4th quarter valued at approximately $28,000. Rakuten Securities Inc. purchased a new position in shares of Deere & Company in the fourth quarter worth $28,000. Naples Money Management LLC acquired a new stake in shares of Deere & Company during the fourth quarter worth $29,000. Finally, Bfsg LLC acquired a new stake in shares of Deere & Company during the fourth quarter worth $30,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on DE shares. JPMorgan Chase & Co. raised their target price on Deere & Company from $415.00 to $425.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Melius downgraded Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Evercore ISI increased their price target on shares of Deere & Company from $381.00 to $387.00 and gave the stock an “in-line” rating in a report on Tuesday, February 20th. Stifel Nicolaus reduced their price target on shares of Deere & Company from $435.00 to $425.00 and set a “buy” rating for the company in a research report on Friday, February 16th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Deere & Company from $425.00 to $401.00 and set a “hold” rating on the stock in a report on Friday, February 16th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Deere & Company has a consensus rating of “Hold” and an average price target of $433.28.

Deere & Company Price Performance

NYSE:DE opened at $400.96 on Friday. 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 52 week low of $345.55 and a 52 week high of $450.00. The stock’s 50-day moving average price is $391.45 and its 200-day moving average price is $383.91. The stock has a market capitalization of $111.61 billion, a PE ratio of 11.68, a price-to-earnings-growth ratio of 1.51 and a beta of 1.04.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, beating the consensus estimate 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 return on equity of 44.60% and a net margin of 16.38%. Deere & Company’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same period last year, the company earned $6.55 earnings per share. As a group, equities analysts expect that Deere & Company will post 27.37 EPS 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. Investors of record on Friday, March 29th will be issued a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.47%. The ex-dividend date is Wednesday, March 27th. Deere & Company’s payout ratio is presently 17.12%.

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.