Bleakley Financial Group LLC Sells 259 Shares of Deere & Company (NYSE:DE)

Bleakley Financial Group LLC decreased its stake in Deere & Company (NYSE:DE) by 5.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,276 shares of the industrial products company’s stock after selling 259 shares during the period. Bleakley Financial Group LLC’s holdings in Deere & Company were worth $1,784,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Pineridge Advisors LLC boosted its stake in Deere & Company by 725.0% during the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after buying an additional 58 shares in the last quarter. Fairscale Capital LLC acquired a new stake in shares of Deere & Company in the 2nd quarter valued at $26,000. Olistico Wealth LLC acquired a new stake in shares of Deere & Company in the 2nd quarter valued at $37,000. Financial Synergies Wealth Advisors Inc. raised its holdings in shares of Deere & Company by 2,500.0% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 104 shares of the industrial products company’s stock valued at $43,000 after buying an additional 100 shares during the last quarter. Finally, Centennial Bank AR raised its holdings 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 buying an additional 84 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft cut their price target on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a report on Thursday, August 8th. BMO Capital Markets assumed coverage on Deere & Company in a research report on Friday, August 9th. They issued a “market perform” rating and a $400.00 price objective for the company. Raymond James began coverage on Deere & Company in a research report on Friday, June 28th. They issued an “outperform” rating and a $420.00 price objective for the company. Truist Financial upped their price target on Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Morgan Stanley reduced their price target on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Deere & Company currently has an average rating of “Hold” and an average price target of $420.69.

Deere & Company Stock Up 0.9 %

DE opened at $408.73 on Friday. Deere & Company has a 1-year low of $340.20 and a 1-year high of $420.47. The stock’s fifty day simple moving average is $393.03 and its 200 day simple moving average is $385.40. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. The stock has a market cap of $112.63 billion, a PE ratio of 12.30, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92.

Deere & Company (NYSE:DE) last posted its quarterly earnings data 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. The firm had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The company’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same quarter last year, the business earned $10.20 EPS. As a group, research analysts expect that Deere & Company will post 25.03 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s payout ratio is 17.70%.

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.