Tilt Investment Management Holdings PBC Cuts Position in Deere & Company (NYSE:DE)

Tilt Investment Management Holdings PBC reduced its stake in shares of Deere & Company (NYSE:DE) by 25.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,063 shares of the industrial products company’s stock after selling 372 shares during the period. Tilt Investment Management Holdings PBC’s holdings in Deere & Company were worth $427,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. RB Capital Management LLC increased its stake in Deere & Company by 5.2% in the 1st quarter. RB Capital Management LLC now owns 1,637 shares of the industrial products company’s stock valued at $680,000 after purchasing an additional 81 shares in the last quarter. Bornite Capital Management LP purchased a new position in shares of Deere & Company in the first quarter valued at $14,541,000. Retirement Income Solutions Inc purchased a new position in shares of Deere & Company in the first quarter valued at $229,000. Sequoia Financial Advisors LLC raised its stake in shares of Deere & Company by 27.1% during the 1st quarter. Sequoia Financial Advisors LLC now owns 2,442 shares of the industrial products company’s stock worth $1,014,000 after buying an additional 521 shares during the last quarter. Finally, Baird Financial Group Inc. boosted its position in shares of Deere & Company by 32.4% in the 1st quarter. Baird Financial Group Inc. now owns 114,322 shares of the industrial products company’s stock worth $47,496,000 after buying an additional 27,985 shares in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Up 0.4 %

Shares of DE traded up $1.54 during mid-day trading on Thursday, reaching $398.42. 642,914 shares of the stock traded hands, compared to its average volume of 1,488,754. The stock has a fifty day simple moving average of $385.17 and a 200 day simple moving average of $382.66. Deere & Company has a 12-month low of $345.55 and a 12-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 firm has a market cap of $110.90 billion, a price-to-earnings ratio of 11.68, a P/E/G ratio of 1.48 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 (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 for the quarter, compared to the consensus estimate of $10.30 billion. The firm’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.55 EPS. Sell-side analysts expect that Deere & Company will post 27.39 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 paid a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 1.48%. The ex-dividend date is Wednesday, March 27th. Deere & Company’s dividend payout ratio (DPR) is 17.12%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Melius downgraded shares of Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, January 8th. JPMorgan Chase & Co. lifted their price objective on Deere & Company from $415.00 to $425.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Citigroup reduced their target price on Deere & Company from $450.00 to $435.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. Evercore ISI raised their price target on Deere & Company from $381.00 to $387.00 and gave the stock an “in-line” rating in a research report on Tuesday, February 20th. Finally, Truist Financial assumed coverage on Deere & Company in a research report on Thursday, March 14th. They issued a “buy” rating and a $494.00 price objective on the stock. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company currently 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.