Inceptionr LLC Sells 1,237 Shares of Deere & Company (NYSE:DE)

Inceptionr LLC trimmed its position in Deere & Company (NYSE:DE) by 60.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 809 shares of the industrial products company’s stock after selling 1,237 shares during the quarter. Inceptionr LLC’s holdings in Deere & Company were worth $323,000 at the end of the most recent reporting period.

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

Deere & Company Trading Down 3.8 %

DE stock traded down $15.57 on Thursday, reaching $398.45. The company’s stock had a trading volume of 2,448,326 shares, compared to its average volume of 1,463,874. The business has a fifty day simple moving average of $398.35 and a two-hundred day simple moving average of $385.79. The firm has a market cap of $110.91 billion, a PE ratio of 11.60, a PEG ratio of 1.53 and a beta of 1.04. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.81 and a current ratio of 2.05. Deere & Company has a 12-month low of $345.55 and a 12-month high of $450.00.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share for the quarter, beating the consensus estimate of $7.86 by $0.67. The company had revenue of $13.61 billion for the quarter, compared to analyst estimates of $13.29 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The firm’s revenue was down 15.4% on a year-over-year basis. During the same period in the previous year, the company posted $9.65 earnings per share. As a group, research analysts forecast that Deere & Company will post 27.37 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th were paid a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date was Wednesday, March 27th. Deere & Company’s dividend payout ratio is 17.12%.

Analysts Set New Price Targets

DE has been the subject of several recent research reports. JPMorgan Chase & Co. boosted 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. Daiwa Capital Markets lifted their price objective on shares of Deere & Company from $400.00 to $420.00 and gave the company an “overweight” rating in a report on Wednesday. Truist Financial began coverage on shares of Deere & Company in a research report on Thursday, March 14th. They issued a “buy” rating and a $494.00 price target on the stock. Wells Fargo & Company decreased their price objective on Deere & Company from $445.00 to $425.00 and set an “overweight” rating for the company in a report on Friday, February 16th. Finally, Morgan Stanley raised their target price on Deere & Company from $430.00 to $450.00 in a report on Wednesday. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $436.83.

About Deere & Company

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.