Archer Investment Corp Sells 27 Shares of Deere & Company (NYSE:DE)

Archer Investment Corp trimmed its holdings in Deere & Company (NYSE:DE) by 4.9% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 524 shares of the industrial products company’s stock after selling 27 shares during the quarter. Archer Investment Corp’s holdings in Deere & Company were worth $219,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. M&G Plc bought a new stake in shares of Deere & Company in the first quarter worth $2,008,000. First Foundation Advisors lifted its stake in shares of Deere & Company by 2.3% in the 1st quarter. First Foundation Advisors now owns 1,249 shares of the industrial products company’s stock worth $513,000 after purchasing an additional 28 shares during the period. Spirepoint Private Client LLC purchased a new position in shares of Deere & Company in the first quarter worth approximately $308,000. TIAA Trust National Association increased its holdings in Deere & Company by 2.3% during the first quarter. TIAA Trust National Association now owns 14,216 shares of the industrial products company’s stock valued at $5,839,000 after buying an additional 326 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board raised its position in Deere & Company by 428.6% in the first quarter. Ontario Teachers Pension Plan Board now owns 7,866 shares of the industrial products company’s stock worth $3,231,000 after acquiring an additional 6,378 shares during the period. Institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports 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 for the company in a research report on Thursday, August 8th. HSBC downgraded Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Hsbc Global Res downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Citigroup raised their target price on shares of Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Finally, Truist Financial upped their price target on shares of Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $420.69.

Deere & Company Stock Performance

NYSE:DE opened at $398.95 on Friday. The company has a market cap of $109.15 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 1.48 and a beta of 0.93. Deere & Company has a 1 year low of $340.20 and a 1 year high of $420.47. The stock’s 50 day simple moving average is $404.03 and its two-hundred day simple moving average is $385.69. 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 announced its quarterly 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 net margin of 14.69% and a return on equity of 36.71%. The company had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. During the same quarter in the previous year, the business posted $10.20 earnings per share. Deere & Company’s quarterly revenue was down 20.3% on a year-over-year basis. As a group, equities analysts anticipate that Deere & Company will post 25 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

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

Deere & Company Company Profile

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.