Deere & Company (NYSE:DE) Shares Sold by Folger Nolan Fleming Douglas Capital Management Inc.

Folger Nolan Fleming Douglas Capital Management Inc. lowered its position in Deere & Company (NYSE:DE) by 2.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,344 shares of the industrial products company’s stock after selling 29 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Deere & Company were worth $537,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in DE. Briaud Financial Planning Inc acquired a new stake in shares of Deere & Company during the 3rd quarter valued at approximately $25,000. ZRC Wealth Management LLC acquired a new stake in shares of Deere & Company during the 4th quarter valued at approximately $28,000. Rakuten Securities Inc. acquired a new stake in shares of Deere & Company during the 4th quarter valued at approximately $28,000. Naples Money Management LLC acquired a new stake in shares of Deere & Company during the 4th quarter valued at approximately $29,000. Finally, Bfsg LLC acquired a new stake in shares of Deere & Company during the 4th quarter valued at approximately $30,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

DE has been the subject of a number of research reports. Truist Financial initiated coverage on shares of Deere & Company in a research report on Thursday, March 14th. They set a “buy” rating and a $494.00 price target for the company. Wells Fargo & Company dropped their price objective on shares of Deere & Company from $445.00 to $425.00 and set an “overweight” rating for the company in a research note on Friday, February 16th. Citigroup dropped their price objective on shares of Deere & Company from $450.00 to $435.00 and set a “buy” rating for the company in a research note on Friday, February 16th. Melius Research reissued a “hold” rating on shares of Deere & Company in a research note on Monday, January 8th. Finally, Morgan Stanley initiated coverage on shares of Deere & Company in a research note on Monday, January 8th. They set an “overweight” rating and a $430.00 price objective for the company. Ten 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 a consensus rating of “Hold” and a consensus price target of $433.28.

Deere & Company Stock Performance

NYSE DE traded down $0.73 on Friday, hitting $393.33. The stock had a trading volume of 998,338 shares, compared to its average volume of 1,243,125. Deere & Company has a one year low of $345.55 and a one year 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 stock has a market cap of $109.49 billion, a price-to-earnings ratio of 11.45, a P/E/G ratio of 1.48 and a beta of 1.04. The company’s 50-day moving average is $387.86 and its two-hundred day moving average is $383.61.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, February 15th. The industrial products company reported $6.23 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $10.30 billion. During the same quarter in the prior year, the firm earned $6.55 EPS. Deere & Company’s quarterly revenue was down 8.0% on a year-over-year basis. On average, analysts expect that Deere & Company will post 27.37 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Friday, March 29th will be issued a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 1.49%. The ex-dividend date 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.