Raleigh Capital Management Inc. Sells 47 Shares of Deere & Company (NYSE:DE)

Raleigh Capital Management Inc. trimmed its holdings in Deere & Company (NYSE:DE) by 38.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 74 shares of the industrial products company’s stock after selling 47 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Deere & Company were worth $31,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Sound Income Strategies LLC increased its stake in shares of Deere & Company by 53.8% in the 1st quarter. Sound Income Strategies LLC now owns 512 shares of the industrial products company’s stock valued at $210,000 after buying an additional 179 shares during the period. Sunbelt Securities Inc. raised its holdings in Deere & Company by 11.6% during the 1st quarter. Sunbelt Securities Inc. now owns 714 shares of the industrial products company’s stock worth $293,000 after purchasing an additional 74 shares during the last quarter. Key Client Fiduciary Advisors LLC bought a new stake in Deere & Company during the 1st quarter worth about $241,000. Aspiriant LLC boosted its stake in shares of Deere & Company by 2.7% in the 1st quarter. Aspiriant LLC now owns 1,452 shares of the industrial products company’s stock valued at $597,000 after purchasing an additional 38 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC boosted its stake in shares of Deere & Company by 38.6% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 4,652 shares of the industrial products company’s stock valued at $1,911,000 after purchasing an additional 1,296 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on DE. Oppenheimer cut their price objective on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. 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. Evercore ISI lifted their price objective on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research note on Monday, August 19th. Bank of America increased their target price on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Finally, Hsbc Global Res lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Twelve 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, the stock presently has an average rating of “Hold” and a consensus target price of $420.69.

Deere & Company Trading Up 0.5 %

Shares of NYSE:DE opened at $408.64 on Thursday. The firm has a market cap of $112.61 billion, a price-to-earnings ratio of 12.30, a PEG ratio of 1.35 and a beta of 0.92. Deere & Company has a 12 month low of $340.20 and a 12 month high of $420.47. The company’s fifty day simple moving average is $396.54 and its 200 day simple moving average is $385.38. 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 released its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $10.94 billion. During the same quarter last year, the business posted $10.20 EPS. The company’s revenue for the quarter was down 20.3% on a year-over-year basis. As a group, research analysts forecast that Deere & Company will post 25.03 EPS 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 paid a $1.47 dividend. The ex-dividend date is Monday, September 30th. This represents a $5.88 annualized dividend and a yield of 1.44%. Deere & Company’s payout ratio is currently 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.