Lyell Wealth Management LP Sells 2,094 Shares of Deere & Company (NYSE:DE)

Lyell Wealth Management LP lessened its position in shares of Deere & Company (NYSE:DE) by 14.0% in the 4th quarter, HoldingsChannel reports. The fund owned 12,883 shares of the industrial products company’s stock after selling 2,094 shares during the period. Lyell Wealth Management LP’s holdings in Deere & Company were worth $5,152,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Morgan Stanley increased its stake in Deere & Company by 1.3% during the 3rd quarter. Morgan Stanley now owns 5,089,159 shares of the industrial products company’s stock valued at $1,920,548,000 after purchasing an additional 65,006 shares in the last quarter. FMR LLC increased its stake in Deere & Company by 6.6% during the 3rd quarter. FMR LLC now owns 4,374,282 shares of the industrial products company’s stock valued at $1,650,767,000 after purchasing an additional 269,571 shares in the last quarter. Northern Trust Corp increased its stake in Deere & Company by 2.5% during the 3rd quarter. Northern Trust Corp now owns 3,061,715 shares of the industrial products company’s stock valued at $1,155,430,000 after purchasing an additional 73,601 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Deere & Company by 2.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,539,699 shares of the industrial products company’s stock valued at $581,052,000 after purchasing an additional 33,946 shares in the last quarter. Finally, Rothschild & Co Wealth Management UK Ltd increased its stake in Deere & Company by 1.1% during the 3rd quarter. Rothschild & Co Wealth Management UK Ltd now owns 1,146,220 shares of the industrial products company’s stock valued at $432,561,000 after purchasing an additional 12,825 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

NYSE DE traded down $2.59 during mid-day trading on Wednesday, reaching $394.62. 944,407 shares of the stock were exchanged, compared to its average volume of 1,480,431. The business’s 50 day moving average is $386.62 and its 200-day moving average is $383.47. Deere & Company has a 1 year low of $345.55 and a 1 year high of $450.00. The company has a market capitalization of $109.85 billion, a P/E ratio of 11.49, a P/E/G ratio of 1.50 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 (NYSE:DE) last announced its quarterly earnings results on Thursday, February 15th. The industrial products company reported $6.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.19 by $1.04. Deere & Company had a net margin of 16.38% and a return on equity of 44.60%. The firm had revenue of $10.49 billion for the quarter, compared to the consensus estimate of $10.30 billion. During the same period in the prior year, the firm posted $6.55 earnings per share. The firm’s quarterly revenue was down 8.0% compared to the same quarter last year. On average, equities research analysts forecast that Deere & Company will post 27.37 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend is Wednesday, March 27th. Deere & Company’s dividend payout ratio is presently 17.12%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on DE shares. Melius Research restated a “hold” rating on shares of Deere & Company in a research note on Monday, January 8th. 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. JPMorgan Chase & Co. upped their price objective on shares of Deere & Company from $415.00 to $425.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Citigroup dropped their price objective on shares of Deere & Company from $450.00 to $435.00 and set a “buy” rating on the stock in a report on Friday, February 16th. Finally, Morgan Stanley began coverage on shares of Deere & Company in a report on Monday, January 8th. They issued an “overweight” rating and a $430.00 price objective on the stock. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target 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.