Dearborn Partners LLC Sells 128 Shares of Deere & Company (NYSE:DE)

Dearborn Partners LLC reduced its position in shares of Deere & Company (NYSE:DE) by 2.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 5,962 shares of the industrial products company’s stock after selling 128 shares during the quarter. Dearborn Partners LLC’s holdings in Deere & Company were worth $2,488,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of DE. Dorsey & Whitney Trust CO LLC increased its position in shares of Deere & Company by 3.3% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 3,398 shares of the industrial products company’s stock worth $1,396,000 after purchasing an additional 107 shares during the period. Banco Santander S.A. boosted its stake in Deere & Company by 37.0% during the 1st quarter. Banco Santander S.A. now owns 16,909 shares of the industrial products company’s stock valued at $6,945,000 after purchasing an additional 4,564 shares during the last quarter. M&G Plc purchased a new position in Deere & Company during the first quarter worth about $2,008,000. Prevail Innovative Wealth Advisors LLC boosted its stake in Deere & Company by 31.9% in the first quarter. Prevail Innovative Wealth Advisors LLC now owns 5,735 shares of the industrial products company’s stock valued at $2,356,000 after acquiring an additional 1,387 shares during the last quarter. Finally, First Foundation Advisors lifted its stake in shares of Deere & Company by 2.3% during the 1st quarter. First Foundation Advisors now owns 1,249 shares of the industrial products company’s stock valued at $513,000 after buying an additional 28 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Price Performance

DE stock opened at $394.68 on Friday. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. Deere & Company has a one year low of $340.20 and a one year high of $420.47. The firm has a 50-day moving average of $403.47 and a two-hundred day moving average of $385.64. The firm has a market capitalization of $107.98 billion, a PE ratio of 13.47, a P/E/G ratio of 1.48 and a beta of 0.93.

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, beating 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 business had revenue of $11.39 billion during the quarter, compared to analysts’ expectations of $10.94 billion. During the same quarter last year, the company earned $10.20 earnings per share. The firm’s revenue was down 20.3% on a year-over-year basis. On average, analysts forecast that Deere & Company will post 25 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were given a $1.47 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.88 annualized dividend and a yield of 1.49%. Deere & Company’s dividend payout ratio is currently 20.06%.

Wall Street Analyst Weigh In

DE has been the subject of a number of research analyst reports. 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 price target on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Bank of America lifted their target price on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Hsbc Global Res downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Finally, Citigroup lifted 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. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average 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.