BNC Wealth Management LLC Has $252,000 Position in Deere & Company (NYSE:DE)

BNC Wealth Management LLC cut its position in Deere & Company (NYSE:DE) by 10.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 604 shares of the industrial products company’s stock after selling 70 shares during the period. BNC Wealth Management LLC’s holdings in Deere & Company were worth $252,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Mattern Wealth Management LLC grew its position in shares of Deere & Company by 1.3% in the 3rd quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock valued at $786,000 after purchasing an additional 25 shares during the period. Carret Asset Management LLC lifted its stake in Deere & Company by 0.3% in the third quarter. Carret Asset Management LLC now owns 8,148 shares of the industrial products company’s stock valued at $3,401,000 after buying an additional 25 shares in the last quarter. Centaurus Financial Inc. lifted its stake in Deere & Company by 2.3% in the second quarter. Centaurus Financial Inc. now owns 1,160 shares of the industrial products company’s stock valued at $433,000 after buying an additional 26 shares in the last quarter. Cornell Pochily Investment Advisors Inc. increased its position in shares of Deere & Company by 0.7% during the third quarter. Cornell Pochily Investment Advisors Inc. now owns 3,495 shares of the industrial products company’s stock worth $1,459,000 after acquiring an additional 26 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC increased its position in shares of Deere & Company by 1.9% during the third quarter. Legacy Wealth Asset Management LLC now owns 1,385 shares of the industrial products company’s stock worth $578,000 after acquiring an additional 26 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Performance

Shares of DE stock opened at $405.71 on Thursday. The company has a fifty day moving average price of $402.27 and a two-hundred day moving average price of $385.56. Deere & Company has a one year low of $340.20 and a one year high of $420.47. The stock has a market cap of $111.00 billion, a P/E ratio of 13.84, 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 (NYSE:DE) last issued its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.63 by $0.66. The business had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. Deere & Company’s revenue was down 20.3% on a year-over-year basis. During the same period last year, the business posted $10.20 EPS. As a group, equities analysts predict that Deere & Company will post 25 EPS for the current 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 paid a dividend of $1.47 per share. The ex-dividend date is Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.45%. Deere & Company’s dividend payout ratio is currently 20.06%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Hsbc Global Res lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Morgan Stanley decreased their price objective on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Bank of America lifted 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. Finally, Citigroup upped their price target on Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company 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.