Avidian Wealth Enterprises LLC Decreases Holdings in Deere & Company (NYSE:DE)

Avidian Wealth Enterprises LLC lowered its holdings in Deere & Company (NYSE:DE) by 18.7% during the third quarter, HoldingsChannel reports. The fund owned 1,071 shares of the industrial products company’s stock after selling 246 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Deere & Company were worth $447,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in Deere & Company by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock worth $9,031,500,000 after buying an additional 263,709 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of Deere & Company by 0.5% during the first quarter. Janus Henderson Group PLC now owns 3,859,021 shares of the industrial products company’s stock worth $1,585,028,000 after acquiring an additional 19,200 shares during the last quarter. Legal & General Group Plc grew its position in shares of Deere & Company by 2.7% during the second quarter. Legal & General Group Plc now owns 2,254,266 shares of the industrial products company’s stock worth $842,259,000 after acquiring an additional 60,255 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Deere & Company by 15.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock valued at $802,037,000 after acquiring an additional 279,627 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in Deere & Company by 8.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,470,159 shares of the industrial products company’s stock worth $603,854,000 after purchasing an additional 114,116 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Up 1.3 %

Shares of NYSE DE opened at $411.16 on Friday. The firm has a market cap of $112.49 billion, a P/E ratio of 14.03, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. Deere & Company has a 1 year low of $340.20 and a 1 year high of $420.47. The firm’s 50 day moving average price is $402.27 and its 200 day moving average price is $385.56.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The business had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. During the same quarter in the previous year, the business earned $10.20 earnings per share. The business’s revenue for the quarter was down 20.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Deere & Company will post 25 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors 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 annualized dividend and a dividend yield of 1.43%. Deere & Company’s dividend payout ratio is presently 20.06%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on DE shares. JPMorgan Chase & Co. lifted their price objective on shares of Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a research note on Friday, October 11th. Truist Financial lifted their price target on shares of Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Citigroup upped their price target on Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. BMO Capital Markets started coverage on Deere & Company in a research report on Friday, August 9th. They set a “market perform” rating and a $400.00 target price on the stock. Finally, Hsbc Global Res cut Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently 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.