Charles Schwab Investment Management Inc. Sells 147,696 Shares of Deere & Company (NYSE:DE)

Charles Schwab Investment Management Inc. trimmed its holdings in Deere & Company (NYSE:DE) by 9.1% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,475,270 shares of the industrial products company’s stock after selling 147,696 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.54% of Deere & Company worth $615,674,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of DE. Fairscale Capital LLC bought a new stake in shares of Deere & Company during the 2nd quarter valued at about $26,000. Pineridge Advisors LLC increased its holdings in Deere & Company by 725.0% during the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after buying an additional 58 shares during the last quarter. Livelsberger Financial Advisory bought a new position in Deere & Company in the third quarter worth approximately $32,000. Olistico Wealth LLC bought a new stake in shares of Deere & Company during the 2nd quarter valued at $37,000. Finally, Centennial Bank AR raised its holdings in Deere & Company by 420.0% in 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 during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Morgan Stanley reduced their target price on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. 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 price target for the company. Deutsche Bank Aktiengesellschaft decreased their target price on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a report on Thursday, August 8th. HSBC lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Finally, JPMorgan Chase & Co. upped their price target on shares of Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a report on Friday, October 11th. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $420.69.

Deere & Company Stock Performance

NYSE DE opened at $436.28 on Friday. The stock has a fifty day simple moving average of $405.95 and a 200-day simple moving average of $386.18. 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 cap of $119.37 billion, a PE ratio of 14.89, a P/E/G ratio of 1.54 and a beta of 0.93. Deere & Company has a twelve month low of $340.20 and a twelve month high of $442.05.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.90 by $0.65. The firm had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.20 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. Deere & Company’s revenue was down 32.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $8.26 EPS. Equities analysts anticipate that Deere & Company will post 25 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were issued a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.35%. The ex-dividend date was 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.