Belpointe Asset Management LLC Sells 2,712 Shares of Deere & Company (NYSE:DE)

Belpointe Asset Management LLC lowered its position in shares of Deere & Company (NYSE:DE) by 74.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 948 shares of the industrial products company’s stock after selling 2,712 shares during the period. Belpointe Asset Management LLC’s holdings in Deere & Company were worth $141,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Whittier Trust Co. lifted its holdings in shares of Deere & Company by 0.3% in the 4th quarter. Whittier Trust Co. now owns 24,423 shares of the industrial products company’s stock worth $3,643,000 after acquiring an additional 62 shares during the last quarter. Howland Capital Management LLC lifted its holdings in shares of Deere & Company by 0.4% in the 4th quarter. Howland Capital Management LLC now owns 15,712 shares of the industrial products company’s stock worth $2,344,000 after acquiring an additional 66 shares during the last quarter. Sowell Financial Services LLC lifted its holdings in shares of Deere & Company by 2.2% in the 4th quarter. Sowell Financial Services LLC now owns 3,060 shares of the industrial products company’s stock worth $457,000 after acquiring an additional 66 shares during the last quarter. TRUE Private Wealth Advisors raised its holdings in Deere & Company by 3.1% during the 4th quarter. TRUE Private Wealth Advisors now owns 2,505 shares of the industrial products company’s stock valued at $375,000 after buying an additional 76 shares during the last quarter. Finally, Barber Financial Group Inc. raised its holdings in Deere & Company by 3.9% during the 4th quarter. Barber Financial Group Inc. now owns 2,198 shares of the industrial products company’s stock valued at $328,000 after buying an additional 83 shares during the last quarter. 68.23% of the stock is owned by institutional investors.

DE has been the subject of a number of recent analyst reports. Credit Suisse Group lowered their price target on shares of Deere & Company from $211.00 to $209.00 and set an “outperform” rating for the company in a report on Tuesday, February 19th. Bank of America lowered shares of Deere & Company from a “buy” rating to a “neutral” rating and lowered their price target for the company from $173.00 to $170.00 in a report on Wednesday, February 13th. DZ Bank downgraded shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Tuesday, February 19th. Argus boosted their price objective on shares of Deere & Company to $175.00 and gave the company a “buy” rating in a research report on Wednesday, February 20th. Finally, OTR Global raised shares of Deere & Company to a “positive” rating in a research report on Friday, January 18th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $179.43.

Shares of NYSE:DE traded up $3.20 during midday trading on Friday, reaching $165.01. The company’s stock had a trading volume of 930,789 shares, compared to its average volume of 1,969,621. The company has a market capitalization of $52.11 billion, a PE ratio of 17.57, a P/E/G ratio of 1.76 and a beta of 0.90. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.98 and a quick ratio of 1.68. Deere & Company has a 12-month low of $128.32 and a 12-month high of $169.99.

Deere & Company (NYSE:DE) last released its earnings results on Friday, February 15th. The industrial products company reported $1.54 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.76 by ($0.22). The business had revenue of $6.94 billion during the quarter, compared to analysts’ expectations of $6.83 billion. Deere & Company had a return on equity of 28.83% and a net margin of 8.85%. The firm’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.31 earnings per share. Equities analysts anticipate that Deere & Company will post 11.17 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Friday, March 29th will be given a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend is Thursday, March 28th. Deere & Company’s dividend payout ratio is presently 32.37%.

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Deere & Company Company Profile

Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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