Thrive Wealth Management LLC Grows Position in Deere & Company (NYSE:DE)

Thrive Wealth Management LLC increased its holdings in shares of Deere & Company (NYSE:DE) by 35.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 728 shares of the industrial products company’s stock after acquiring an additional 191 shares during the quarter. Thrive Wealth Management LLC’s holdings in Deere & Company were worth $304,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of DE. Vanguard Group Inc. grew its position in shares of Deere & Company by 1.2% in the first quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock valued at $9,031,500,000 after purchasing an additional 263,709 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Deere & Company by 0.5% in the 1st quarter. Janus Henderson Group PLC now owns 3,859,021 shares of the industrial products company’s stock valued at $1,585,028,000 after buying an additional 19,200 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Deere & Company by 2.7% in the 2nd 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 raised its holdings in shares of Deere & Company by 15.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock worth $802,037,000 after acquiring an additional 279,627 shares during the period. Finally, Fisher Asset Management LLC grew its holdings in shares of Deere & Company by 11.3% in the fourth quarter. Fisher Asset Management LLC now owns 1,481,458 shares of the industrial products company’s stock valued at $592,391,000 after purchasing an additional 150,713 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on DE. Morgan Stanley reduced their target price on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. Hsbc Global Res cut Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Citigroup cut their target price on Deere & Company from $395.00 to $370.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. Raymond James initiated coverage on Deere & Company in a research note on Friday, June 28th. They issued an “outperform” rating and a $420.00 price target on the stock. Finally, HSBC downgraded Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Thirteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $410.50.

Deere & Company Stock Down 0.2 %

Shares of NYSE:DE traded down $0.75 during trading on Friday, hitting $407.99. The company’s stock had a trading volume of 877,896 shares, compared to its average volume of 1,501,564. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $420.47. The business has a 50 day moving average price of $383.08 and a two-hundred day moving average price of $385.19. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. The company has a market capitalization of $112.43 billion, a PE ratio of 12.28, a P/E/G ratio of 1.36 and a beta of 0.92.

Deere & Company (NYSE:DE) last released 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. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The firm had revenue of $11.39 billion during the quarter, compared to analysts’ expectations of $10.94 billion. During the same period in the previous year, the firm posted $10.20 EPS. Deere & Company’s revenue for the quarter was down 20.3% on a year-over-year basis. As a group, research analysts expect that Deere & Company will post 25.03 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be paid a dividend of $1.47 per share. 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 17.70%.

Deere & Company 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.