Mount Yale Investment Advisors LLC Sells 337 Shares of Deere & Company (NYSE:DE)

Mount Yale Investment Advisors LLC cut its position in Deere & Company (NYSE:DE) by 17.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,590 shares of the industrial products company’s stock after selling 337 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Deere & Company were worth $664,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tectonic Advisors LLC bought a new position in Deere & Company during the third quarter worth about $484,000. DT Investment Partners LLC raised its position in shares of Deere & Company by 16.5% during the third quarter. DT Investment Partners LLC now owns 466 shares of the industrial products company’s stock worth $194,000 after purchasing an additional 66 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Deere & Company by 12.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 8,680 shares of the industrial products company’s stock valued at $3,622,000 after purchasing an additional 927 shares in the last quarter. Pinnacle West Asset Management Inc. grew its position in shares of Deere & Company by 1.4% in the 3rd quarter. Pinnacle West Asset Management Inc. now owns 3,873 shares of the industrial products company’s stock valued at $1,616,000 after purchasing an additional 55 shares during the period. Finally, PSI Advisors LLC increased its stake in Deere & Company by 4.2% during the 3rd quarter. PSI Advisors LLC now owns 1,998 shares of the industrial products company’s stock worth $834,000 after purchasing an additional 80 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Price Performance

NYSE:DE opened at $407.93 on Friday. Deere & Company has a 12-month low of $340.20 and a 12-month high of $420.47. The firm has a market capitalization of $112.41 billion, a price-to-earnings ratio of 12.28, a P/E/G ratio of 1.35 and a beta of 0.92. The stock’s 50 day moving average price is $397.89 and its two-hundred day moving average price is $385.54. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping the consensus estimate of $5.63 by $0.66. The business had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. Deere & Company’s revenue was down 20.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $10.20 EPS. On average, analysts anticipate that Deere & Company will post 25.03 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be given a $1.47 dividend. The ex-dividend date is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.44%. Deere & Company’s payout ratio is presently 17.70%.

Analysts Set New Price Targets

A number of brokerages have weighed in on DE. Evercore ISI lifted their price target on shares of Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research note on Monday, August 19th. Hsbc Global Res lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. BMO Capital Markets assumed coverage on Deere & Company in a research note on Friday, August 9th. They issued a “market perform” rating and a $400.00 price target on the stock. Morgan Stanley reduced their price objective 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. Finally, Bank of America lifted their target price on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Deere & Company currently has a consensus rating of “Hold” and a consensus price target of $420.69.

Deere & 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.