Sheaff Brock Investment Advisors LLC Lowers Position in Deere & Company (NYSE:DE)

Sheaff Brock Investment Advisors LLC decreased its position in Deere & Company (NYSE:DE) by 5.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,183 shares of the industrial products company’s stock after selling 136 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Deere & Company were worth $911,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Pathway Financial Advisers LLC boosted its holdings in Deere & Company by 53,338.6% during the third quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock worth $356,602,000 after buying an additional 852,885 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Deere & Company by 46,892.9% during the third quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company’s stock worth $322,218,000 after buying an additional 770,451 shares in the last quarter. Swedbank AB purchased a new stake in Deere & Company during the first quarter worth about $191,628,000. Mawer Investment Management Ltd. purchased a new stake in Deere & Company during the second quarter worth about $166,937,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Deere & Company by 15.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock valued at $802,037,000 after purchasing an additional 279,627 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of Deere & Company stock opened at $398.95 on Friday. The business’s fifty day moving average price is $404.03 and its 200 day moving average price is $385.69. Deere & Company has a twelve month low of $340.20 and a twelve month high of $420.47. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. The stock has a market capitalization of $109.15 billion, a P/E ratio of 13.61, a PEG ratio of 1.48 and a beta of 0.93.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, beating 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 period in the previous year, the company posted $10.20 EPS. The company’s revenue was down 20.3% compared to the same quarter last year. As a group, research analysts anticipate that Deere & Company will post 25 earnings per share for the current year.

Deere & Company Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Oppenheimer reduced their price target on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft reduced 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. Hsbc Global Res downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Truist Financial upped 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. Finally, BMO Capital Markets initiated coverage on shares of Deere & Company in a report on Friday, August 9th. They issued a “market perform” rating and a $400.00 price target on the stock. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Deere & Company has a consensus rating of “Hold” and a consensus price target 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.