MONECO Advisors LLC Trims Stock Holdings in Deere & Company (NYSE:DE)

MONECO Advisors LLC lowered its holdings in Deere & Company (NYSE:DE) by 21.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 892 shares of the industrial products company’s stock after selling 237 shares during the period. MONECO Advisors LLC’s holdings in Deere & Company were worth $372,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DE. Mattern Wealth Management LLC lifted its holdings in Deere & Company by 1.3% during the 3rd quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock worth $786,000 after buying an additional 25 shares during the last quarter. Carret Asset Management LLC lifted its holdings in Deere & Company by 0.3% during the 3rd quarter. Carret Asset Management LLC now owns 8,148 shares of the industrial products company’s stock worth $3,401,000 after buying an additional 25 shares during the last quarter. Centaurus Financial Inc. lifted its holdings in Deere & Company by 2.3% during the 2nd quarter. Centaurus Financial Inc. now owns 1,160 shares of the industrial products company’s stock worth $433,000 after buying an additional 26 shares during the last quarter. Cornell Pochily Investment Advisors Inc. lifted its holdings in Deere & Company by 0.7% during the 3rd quarter. Cornell Pochily Investment Advisors Inc. now owns 3,495 shares of the industrial products company’s stock worth $1,459,000 after buying an additional 26 shares during the last quarter. Finally, Legacy Wealth Asset Management LLC lifted its holdings in Deere & Company by 1.9% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 1,385 shares of the industrial products company’s stock worth $578,000 after buying an additional 26 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on DE shares. Evercore ISI increased their target price on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a report on Monday, August 19th. BMO Capital Markets started coverage on Deere & Company in a report on Friday, August 9th. They set a “market perform” rating and a $400.00 target price on the stock. JPMorgan Chase & Co. increased their target price on Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a report on Friday, October 11th. Hsbc Global Res cut Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Finally, Bank of America increased their price target on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $420.69.

Deere & Company Stock Down 0.3 %

DE opened at $404.69 on Thursday. Deere & Company has a 12 month low of $340.20 and a 12 month high of $420.47. The stock has a market cap of $111.52 billion, a P/E ratio of 12.18, a P/E/G ratio of 1.35 and a beta of 0.92. The stock’s 50 day moving average price is $399.90 and its 200 day moving average price is $385.36. 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 issued 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 company had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. During the same period last year, the firm earned $10.20 EPS. The firm’s revenue for the quarter was down 20.3% on a year-over-year basis. As a group, research analysts predict that Deere & Company will post 25.03 earnings per share for the current year.

Deere & Company Dividend Announcement

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