Modera Wealth Management LLC Sells 69 Shares of Deere & Company (NYSE:DE)

Modera Wealth Management LLC lessened its holdings in Deere & Company (NYSE:DE) by 1.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,301 shares of the industrial products company’s stock after selling 69 shares during the quarter. Modera Wealth Management LLC’s holdings in Deere & Company were worth $2,630,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Oppenheimer Asset Management Inc. raised its stake in Deere & Company by 20.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock valued at $5,906,000 after purchasing an additional 2,692 shares in the last quarter. Royal Fund Management LLC raised its stake in Deere & Company by 99.8% in the third quarter. Royal Fund Management LLC now owns 6,454 shares of the industrial products company’s stock valued at $2,694,000 after purchasing an additional 3,223 shares in the last quarter. New Century Financial Group LLC acquired a new position in Deere & Company in the third quarter valued at about $1,052,000. Manning & Napier Advisors LLC acquired a new position in Deere & Company in the second quarter valued at about $24,984,000. Finally, Handelsbanken Fonder AB raised its stake in Deere & Company by 2.2% in the third quarter. Handelsbanken Fonder AB now owns 90,871 shares of the industrial products company’s stock valued at $37,923,000 after purchasing an additional 1,963 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Ratings Changes

DE has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft lowered their target price on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. BMO Capital Markets initiated coverage on Deere & Company in a research note on Friday, August 9th. They set a “market perform” rating and a $400.00 target price for the company. Citigroup boosted their target price on Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Oppenheimer lowered their target price on Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Finally, Truist Financial boosted their target price on Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. 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, the stock currently has a consensus rating of “Hold” and a consensus price target of $420.69.

Deere & Company Stock Performance

Shares of DE stock opened at $407.93 on Monday. The business’s 50 day simple moving average is $397.89 and its 200 day simple moving average is $385.17. Deere & Company has a one year low of $340.20 and a one year high of $420.47. The stock has a market capitalization of $112.41 billion, a PE ratio of 12.28, a PEG ratio of 1.35 and a beta of 0.92. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, August 15th. The industrial products company reported $6.29 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 business had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. During the same period in the prior year, the business posted $10.20 earnings per share. The firm’s revenue was down 20.3% on a year-over-year basis. As a group, research analysts forecast that Deere & Company will post 25.03 earnings per share for the current year.

Deere & Company Announces Dividend

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 issued a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s payout ratio is presently 17.70%.

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.