Deere & Company (NYSE:DE) Holdings Trimmed by Graypoint LLC

Graypoint LLC trimmed its position in shares of Deere & Company (NYSE:DE) by 3.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 3,377 shares of the industrial products company’s stock after selling 110 shares during the quarter. Graypoint LLC’s holdings in Deere & Company were worth $1,410,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DE. Fairscale Capital LLC purchased a new position in Deere & Company during the 2nd quarter worth approximately $26,000. Pineridge Advisors LLC grew its position in Deere & Company by 725.0% during the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 58 shares in the last quarter. Livelsberger Financial Advisory purchased a new position in Deere & Company during the 3rd quarter worth approximately $32,000. Olistico Wealth LLC purchased a new position in Deere & Company during the 2nd quarter worth approximately $37,000. Finally, Centennial Bank AR grew its position in Deere & Company by 420.0% during the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 84 shares in the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Up 1.3 %

Deere & Company stock opened at $411.16 on Friday. The firm has a market cap of $112.49 billion, a price-to-earnings ratio of 14.03, a P/E/G ratio of 1.52 and a beta of 0.93. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $420.47. The firm has a fifty day moving average price of $402.27 and a two-hundred day moving average price of $385.56.

Deere & Company (NYSE:DE) last released 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 firm had revenue of $11.39 billion during the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The business’s revenue was down 20.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $10.20 EPS. As a group, analysts forecast that Deere & Company will post 25 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be issued a dividend of $1.47 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.43%. Deere & Company’s payout ratio is 20.06%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Citigroup boosted their price target on shares of Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Truist Financial boosted their price target on shares of Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. Evercore ISI boosted their price target on shares of Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a report on Monday, August 19th. Finally, Hsbc Global Res cut shares of Deere & Company from a “strong-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 issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $420.69.

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.