Sound Income Strategies LLC Has $287,000 Holdings in Deere & Company (NYSE:DE)

Sound Income Strategies LLC grew its position in Deere & Company (NYSE:DE) by 28.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 687 shares of the industrial products company’s stock after purchasing an additional 154 shares during the quarter. Sound Income Strategies LLC’s holdings in Deere & Company were worth $287,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Fairscale Capital LLC acquired a new stake in Deere & Company in the second quarter valued at about $26,000. Pineridge Advisors LLC grew its stake in shares of Deere & Company by 725.0% during the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after buying an additional 58 shares during the last quarter. Livelsberger Financial Advisory bought a new position in shares of Deere & Company in the 4th quarter valued at $30,000. Spartan Planning & Wealth Management bought a new stake in Deere & Company during the 4th quarter worth $33,000. Finally, Olistico Wealth LLC acquired a new position in Deere & Company in the 2nd quarter worth about $37,000. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Up 1.3 %

Shares of NYSE DE opened at $411.08 on Monday. Deere & Company has a 52 week low of $340.20 and a 52 week high of $420.47. The company has a market cap of $113.28 billion, a P/E ratio of 12.37, a P/E/G ratio of 1.35 and a beta of 0.92. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The business has a 50-day simple moving average of $387.01 and a two-hundred day simple moving average of $385.27.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. The business had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The company’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same period in the prior year, the company earned $10.20 EPS. Research analysts anticipate that Deere & Company will post 25.03 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be given a dividend of $1.47 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.43%. Deere & Company’s payout ratio is 17.70%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on DE. JPMorgan Chase & Co. upped their price objective on Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a research note on Friday. Hsbc Global Res downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. BMO Capital Markets assumed coverage on Deere & Company in a report on Friday, August 9th. They issued a “market perform” rating and a $400.00 target price on the stock. Bank of America boosted their price objective on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Finally, HSBC lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Twelve research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $420.69.

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.