Victory Capital Management Inc. Reduces Position in Deere & Company (NYSE:DE)

Victory Capital Management Inc. decreased its holdings in Deere & Company (NYSE:DE) by 10.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 103,214 shares of the industrial products company’s stock after selling 11,846 shares during the period. Victory Capital Management Inc.’s holdings in Deere & Company were worth $41,272,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Briaud Financial Planning Inc purchased a new stake in Deere & Company during the third quarter valued at $25,000. ZRC Wealth Management LLC purchased a new stake in shares of Deere & Company during the 4th quarter valued at about $28,000. Rakuten Securities Inc. purchased a new stake in shares of Deere & Company during the 4th quarter valued at about $28,000. Naples Money Management LLC bought a new position in shares of Deere & Company in the 4th quarter worth approximately $29,000. Finally, Bfsg LLC purchased a new position in shares of Deere & Company in the fourth quarter worth approximately $30,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Up 1.3 %

Shares of Deere & Company stock opened at $400.96 on Monday. Deere & Company has a twelve month low of $345.55 and a twelve month high of $450.00. The company has a quick ratio of 1.81, a current ratio of 2.05 and a debt-to-equity ratio of 1.81. The business has a 50-day moving average price of $391.45 and a 200-day moving average price of $383.87. The firm has a market cap of $111.61 billion, a price-to-earnings ratio of 11.68, a PEG ratio of 1.51 and a beta of 1.04.

Deere & Company (NYSE:DE) last released its quarterly 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 business had revenue of $10.49 billion during the quarter, compared to analysts’ expectations of $10.30 billion. Deere & Company had a return on equity of 44.60% and a net margin of 16.38%. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter last year, the business posted $6.55 EPS. Equities research analysts anticipate that Deere & Company will post 27.37 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Friday, March 29th will be given 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 dividend payout ratio is presently 17.12%.

Analyst Ratings Changes

Several research firms have weighed in on DE. Citigroup decreased their price target on shares of Deere & Company from $450.00 to $435.00 and set a “buy” rating on the stock in a research report on Friday, February 16th. Melius cut Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Truist Financial initiated coverage on Deere & Company in a report on Thursday, March 14th. They set a “buy” rating and a $494.00 price target for the company. Morgan Stanley began coverage on Deere & Company in a research note on Monday, January 8th. They issued an “overweight” rating and a $430.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Deere & Company from $425.00 to $401.00 and set a “hold” rating for the company in a research note on Friday, February 16th. 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.com, Deere & Company presently has a consensus rating of “Hold” and an average target price of $433.28.

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.