LexAurum Advisors LLC cut its stake in Deere & Company (NYSE:DE) by 7.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,185 shares of the industrial products company’s stock after selling 100 shares during the period. LexAurum Advisors LLC’s holdings in Deere & Company were worth $200,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Atwater Malick LLC acquired a new position in Deere & Company during the third quarter worth about $27,000. SRS Capital Advisors Inc. purchased a new stake in shares of Deere & Company during the 2nd quarter valued at $28,000. Arcus Capital Partners LLC bought a new position in Deere & Company in the 2nd quarter worth about $33,000. Orrstown Financial Services Inc. boosted its stake in Deere & Company by 116.0% in the 2nd quarter. Orrstown Financial Services Inc. now owns 216 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 116 shares during the period. Finally, Nelson Roberts Investment Advisors LLC boosted its position in shares of Deere & Company by 34.8% during the 2nd quarter. Nelson Roberts Investment Advisors LLC now owns 271 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 70 shares during the last quarter. 67.48% of the stock is owned by hedge funds and other institutional investors.
Shares of Deere & Company stock traded up $0.47 during trading hours on Friday, reaching $178.36. 1,676,855 shares of the company were exchanged, compared to its average volume of 2,024,434. The firm has a market cap of $56.34 billion, a PE ratio of 18.99, a PEG ratio of 2.40 and a beta of 1.15. The stock’s fifty day moving average is $170.60 and its 200 day moving average is $159.93. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.73 and a current ratio of 1.99. Deere & Company has a 1 year low of $132.68 and a 1 year high of $179.70.
Deere & Company (NYSE:DE) last posted its earnings results on Friday, August 16th. The industrial products company reported $2.71 EPS for the quarter, missing the consensus estimate of $2.80 by ($0.09). Deere & Company had a net margin of 8.55% and a return on equity of 27.75%. The business had revenue of $8.97 billion during the quarter, compared to analysts’ expectations of $9.38 billion. During the same period last year, the company earned $2.59 EPS. The business’s quarterly revenue was down 3.4% compared to the same quarter last year. Research analysts expect that Deere & Company will post 9.96 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were paid a dividend of $0.76 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $3.04 annualized dividend and a dividend yield of 1.70%. Deere & Company’s dividend payout ratio (DPR) is 32.37%.
In other news, Chairman Samuel R. Allen sold 114,253 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $178.30, for a total transaction of $20,371,309.90. Following the completion of the sale, the chairman now owns 423,497 shares in the company, valued at $75,509,515.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.71% of the stock is currently owned by corporate insiders.
DE has been the topic of several analyst reports. Stephens initiated coverage on Deere & Company in a report on Wednesday, August 14th. They issued an “equal weight” rating and a $160.00 target price on the stock. Wells Fargo & Co cut Deere & Company from an “outperform” rating to a “market perform” rating and set a $170.00 price objective for the company. in a research report on Thursday, September 12th. Bank of America dropped their price target on Deere & Company from $185.00 to $175.00 and set a “buy” rating for the company in a research note on Monday, August 19th. Robert W. Baird set a $178.00 price objective on Deere & Company and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, UBS Group reduced their price target on Deere & Company from $167.00 to $160.00 and set a “neutral” rating on the stock in a report on Monday, August 19th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $169.21.
Deere & Company Profile
Deere & Company manufactures and distributes various equipment worldwide. The company operates through three segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment offers agriculture and turf equipment, and related parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment.
Featured Story: What is the outlook for the FAANG stocks?
Receive News & Ratings for Deere & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Deere & Company and related companies with MarketBeat.com's FREE daily email newsletter.