Signaturefd LLC Lowers Stock Position in Deere & Company (NYSE:DE)

Signaturefd LLC cut its holdings in shares of Deere & Company (NYSE:DE) by 3.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,295 shares of the industrial products company’s stock after selling 168 shares during the period. Signaturefd LLC’s holdings in Deere & Company were worth $2,210,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Sequoia Financial Advisors LLC lifted its holdings in shares of Deere & Company by 153.4% during the third quarter. Sequoia Financial Advisors LLC now owns 15,077 shares of the industrial products company’s stock worth $6,292,000 after purchasing an additional 9,128 shares during the period. Mattern Wealth Management LLC lifted its holdings in shares of Deere & Company by 1.3% during the third quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock worth $786,000 after purchasing an additional 25 shares during the period. Fortis Group Advisors LLC lifted its holdings in shares of Deere & Company by 357.8% during the third quarter. Fortis Group Advisors LLC now owns 618 shares of the industrial products company’s stock worth $258,000 after purchasing an additional 483 shares during the period. Calton & Associates Inc. acquired a new stake in shares of Deere & Company during the third quarter worth $270,000. Finally, Ledyard National Bank lifted its holdings in shares of Deere & Company by 3.3% during the third quarter. Ledyard National Bank now owns 1,231 shares of the industrial products company’s stock worth $514,000 after purchasing an additional 39 shares during the period. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on DE. Oppenheimer decreased their price target on Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. JPMorgan Chase & Co. increased their price target on Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a report on Friday, October 11th. Raymond James initiated coverage on Deere & Company in a report on Friday, June 28th. They set an “outperform” rating and a $420.00 price target for the company. Morgan Stanley reduced their target price on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a report on Thursday, August 8th. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $420.69.

Deere & Company Trading Down 0.1 %

Deere & Company stock opened at $406.65 on Wednesday. The stock has a market cap of $112.06 billion, a PE ratio of 12.24, a P/E/G ratio of 1.35 and a beta of 0.92. The stock has a 50-day moving average price of $395.40 and a 200 day moving average price of $385.21. Deere & Company has a 52 week low of $340.20 and a 52 week high of $420.47. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. The firm had revenue of $11.39 billion during 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 firm’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same quarter last year, the business posted $10.20 EPS. Equities research analysts predict that Deere & Company will post 25.03 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be issued a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) 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.