Jmac Enterprises LLC Reduces Holdings in Deere & Company (NYSE:DE)

Jmac Enterprises LLC lowered its stake in shares of Deere & Company (NYSE:DE) by 12.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,260 shares of the industrial products company’s stock after selling 185 shares during the quarter. Jmac Enterprises LLC’s holdings in Deere & Company were worth $526,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Deseret Mutual Benefit Administrators boosted its position in Deere & Company by 15.3% in the third quarter. Deseret Mutual Benefit Administrators now owns 316 shares of the industrial products company’s stock valued at $132,000 after buying an additional 42 shares during the last quarter. WoodTrust Financial Corp boosted its position in Deere & Company by 9.4% in the third quarter. WoodTrust Financial Corp now owns 16,229 shares of the industrial products company’s stock valued at $6,773,000 after buying an additional 1,394 shares during the last quarter. Financial Enhancement Group LLC purchased a new stake in Deere & Company in the third quarter valued at approximately $6,761,000. Forte Capital LLC ADV boosted its position in Deere & Company by 6.3% in the third quarter. Forte Capital LLC ADV now owns 1,646 shares of the industrial products company’s stock valued at $687,000 after buying an additional 98 shares during the last quarter. Finally, Umpqua Bank boosted its position in Deere & Company by 1.5% in the 3rd quarter. Umpqua Bank now owns 4,879 shares of the industrial products company’s stock worth $2,036,000 after purchasing an additional 71 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Citigroup upped their price objective on Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. BMO Capital Markets initiated coverage on Deere & Company in a research report on Friday, August 9th. They set a “market perform” rating and a $400.00 target price on the stock. Bank of America increased their target price on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. Deutsche Bank Aktiengesellschaft decreased their target price on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Finally, Hsbc Global Res lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $420.69.

Deere & Company Price Performance

Shares of NYSE DE opened at $407.00 on Thursday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $420.47. The firm has a market capitalization of $111.36 billion, a PE ratio of 13.89, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93. The stock’s 50-day simple moving average is $402.27 and its 200-day simple moving average is $385.56.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping the consensus estimate of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The business had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. During the same quarter last year, the company earned $10.20 EPS. The business’s quarterly revenue was down 20.3% on a year-over-year basis. As a group, equities research analysts forecast that Deere & Company will post 25 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is presently 20.06%.

About Deere & Company

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.