Crossmark Global Holdings Inc. Sells 11,357 Shares of Deere & Company (NYSE:DE)

Crossmark Global Holdings Inc. decreased its stake in Deere & Company (NYSE:DE) by 28.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,219 shares of the industrial products company’s stock after selling 11,357 shares during the period. Crossmark Global Holdings Inc.’s holdings in Deere & Company were worth $11,956,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DE. DLK Investment Management LLC grew its stake in shares of Deere & Company by 0.3% in the fourth quarter. DLK Investment Management LLC now owns 8,212 shares of the industrial products company’s stock worth $3,479,000 after purchasing an additional 24 shares during the last quarter. Mattern Wealth Management LLC increased its position in shares of Deere & Company by 1.3% during the third quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock worth $786,000 after buying an additional 25 shares during the period. Carret Asset Management LLC raised its stake in Deere & Company by 0.3% during the third quarter. Carret Asset Management LLC now owns 8,148 shares of the industrial products company’s stock worth $3,401,000 after buying an additional 25 shares during the last quarter. Round Rock Advisors LLC lifted its holdings in Deere & Company by 2.0% in the third quarter. Round Rock Advisors LLC now owns 1,252 shares of the industrial products company’s stock valued at $522,000 after buying an additional 25 shares during the period. Finally, Douglas Lane & Associates LLC boosted its position in Deere & Company by 4.7% during the fourth quarter. Douglas Lane & Associates LLC now owns 557 shares of the industrial products company’s stock valued at $236,000 after acquiring an additional 25 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Up 4.0 %

DE stock opened at $456.57 on Tuesday. The stock has a 50-day simple moving average of $431.48 and a two-hundred day simple moving average of $402.53. Deere & Company has a twelve month low of $340.20 and a twelve month high of $469.39. The firm has a market capitalization of $124.35 billion, a PE ratio of 17.83, a PEG ratio of 2.81 and a beta of 0.98. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.89 by $0.66. The business had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.20 billion. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The business’s revenue for the quarter was down 32.8% compared to the same quarter last year. During the same period in the prior year, the company posted $8.26 EPS. On average, equities analysts predict that Deere & Company will post 19.34 EPS for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be issued a $1.62 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $6.48 annualized dividend and a dividend yield of 1.42%. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s dividend payout ratio (DPR) is presently 25.31%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Truist Financial boosted their price target on Deere & Company from $538.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. UBS Group increased their target price on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Morgan Stanley lifted their price target on shares of Deere & Company from $401.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. JPMorgan Chase & Co. increased their price target on Deere & Company from $450.00 to $470.00 and gave the stock a “neutral” rating in a report on Wednesday, January 15th. Finally, Citigroup decreased their price target on shares of Deere & Company from $470.00 to $430.00 and set a “neutral” rating for the company in a research note on Tuesday, January 14th. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $442.83.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.