Cutler Investment Counsel LLC Sells 11,850 Shares of Deere & Company (NYSE:DE)

Cutler Investment Counsel LLC lessened its holdings in Deere & Company (NYSE:DE) by 24.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,273 shares of the industrial products company’s stock after selling 11,850 shares during the quarter. Deere & Company accounts for approximately 2.1% of Cutler Investment Counsel LLC’s holdings, making the stock its 14th biggest holding. Cutler Investment Counsel LLC’s holdings in Deere & Company were worth $14,959,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in DE. Retirement Group LLC lifted its holdings in shares of Deere & Company by 264.7% during the second 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 during the period. Briaud Financial Planning Inc bought a new position in Deere & Company during the 3rd quarter valued at about $25,000. Rakuten Securities Inc. acquired a new position in Deere & Company in the fourth quarter valued at about $28,000. ZRC Wealth Management LLC acquired a new position in Deere & Company in the fourth quarter valued at about $28,000. Finally, Worth Asset Management LLC bought a new stake in Deere & Company during the first quarter worth about $28,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on DE shares. Evercore ISI boosted their target price on Deere & Company from $381.00 to $387.00 and gave the stock an “in-line” rating in a report on Tuesday, February 20th. Morgan Stanley started coverage on Deere & Company in a research note on Monday, January 8th. They issued an “overweight” rating and a $430.00 target price for the company. Wells Fargo & Company reduced their price target 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. Truist Financial started coverage on shares of Deere & Company in a research report on Thursday, March 14th. They issued a “buy” rating and a $494.00 price objective for the company. Finally, Melius lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Deere & Company presently has a consensus rating of “Hold” and an average price target of $433.28.

Deere & Company Trading Down 0.2 %

Deere & Company stock traded down $0.63 during midday trading on Friday, hitting $399.97. 409,350 shares of the stock were exchanged, compared to its average volume of 1,486,453. The stock has a market capitalization of $111.34 billion, a PE ratio of 11.71, a P/E/G ratio of 1.49 and a beta of 1.04. The company has a fifty day simple moving average of $385.47 and a two-hundred day simple moving average of $382.79. 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.

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

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Friday, March 29th will be issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend is Wednesday, March 27th. Deere & Company’s dividend payout ratio (DPR) 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.