SageView Advisory Group LLC Reduces Position in Deere & Company (NYSE:DE)

SageView Advisory Group LLC decreased its holdings in Deere & Company (NYSE:DE) by 9.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,985 shares of the industrial products company’s stock after selling 307 shares during the period. SageView Advisory Group LLC’s holdings in Deere & Company were worth $1,246,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Fairscale Capital LLC purchased a new position in Deere & Company in the 2nd quarter valued at approximately $26,000. Livelsberger Financial Advisory purchased a new position in shares of Deere & Company in the third quarter valued at $32,000. Centennial Bank AR grew its position in shares of Deere & Company by 420.0% in the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 84 shares in the last quarter. Briaud Financial Planning Inc raised its stake in shares of Deere & Company by 73.5% during the 2nd quarter. Briaud Financial Planning Inc now owns 118 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 50 shares during the period. Finally, Darwin Wealth Management LLC purchased a new stake in Deere & Company during the 3rd quarter worth about $47,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

DE stock opened at $448.17 on Friday. The stock has a market capitalization of $122.62 billion, a price-to-earnings ratio of 17.51, a PEG ratio of 1.96 and a beta of 0.96. The firm’s 50-day moving average price is $417.01 and its two-hundred day moving average price is $389.92. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89. Deere & Company has a 12-month low of $340.20 and a 12-month high of $469.39.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The company had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. During the same quarter in the previous year, the business earned $8.26 EPS. Deere & Company’s revenue was down 32.8% compared to the same quarter last year. As a group, equities analysts predict that Deere & Company will post 19.52 earnings per share for the current year.

Deere & Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be paid a $1.62 dividend. This is a positive change from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date is Tuesday, December 31st. This represents a $6.48 dividend on an annualized basis and a yield of 1.45%. Deere & Company’s dividend payout ratio (DPR) is presently 22.97%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on DE. HSBC lowered Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. BMO Capital Markets assumed coverage on shares of Deere & Company in a report on Friday, August 9th. They set a “market perform” rating and a $400.00 target price on the stock. Truist Financial increased their target price on shares of Deere & Company from $496.00 to $538.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Bank of America boosted their price target on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. Finally, JPMorgan Chase & Co. lifted their price objective on Deere & Company from $420.00 to $450.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Twelve equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Deere & Company presently has an average rating of “Hold” and an average target price of $436.41.

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.