Lifeworks Advisors LLC Reduces Stake in Deere & Company (NYSE:DE)

Lifeworks Advisors LLC lessened its stake in shares of Deere & Company (NYSE:DE) by 11.1% during the third quarter, Holdings Channel.com reports. The institutional investor owned 5,620 shares of the industrial products company’s stock after selling 700 shares during the period. Lifeworks Advisors LLC’s holdings in Deere & Company were worth $2,345,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of DE. Ferguson Wellman Capital Management Inc. boosted its holdings in shares of Deere & Company by 24.8% during the third quarter. Ferguson Wellman Capital Management Inc. now owns 10,066 shares of the industrial products company’s stock worth $4,201,000 after purchasing an additional 2,000 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its position in Deere & Company by 6.8% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,055 shares of the industrial products company’s stock valued at $2,944,000 after purchasing an additional 449 shares during the period. Metis Global Partners LLC increased its position in shares of Deere & Company by 0.5% during the third quarter. Metis Global Partners LLC now owns 10,068 shares of the industrial products company’s stock worth $4,202,000 after acquiring an additional 49 shares during the last quarter. Planning Capital Management Corp increased its position in shares of Deere & Company by 19.1% during the third quarter. Planning Capital Management Corp now owns 811 shares of the industrial products company’s stock worth $338,000 after acquiring an additional 130 shares during the last quarter. Finally, KBC Group NV increased its position in shares of Deere & Company by 10.9% during the third quarter. KBC Group NV now owns 101,794 shares of the industrial products company’s stock worth $42,482,000 after acquiring an additional 9,968 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Up 1.3 %

Shares of Deere & Company stock traded up $5.23 on Thursday, hitting $394.68. 450,391 shares of the company traded hands, compared to its average volume of 1,428,968. The company has a 50-day moving average price of $403.47 and a 200 day moving average price of $385.64. 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 has a 12-month low of $340.20 and a 12-month high of $420.47. The company has a market cap of $107.98 billion, a PE ratio of 13.29, a PEG ratio of 1.50 and a beta of 0.93.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (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 net margin of 14.69% and a return on equity of 36.71%. Deere & Company’s revenue for the quarter was down 20.3% on a year-over-year basis. During the same period in the prior year, the company posted $10.20 earnings per share. Sell-side analysts predict that Deere & Company will post 25 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, September 30th were given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend was Monday, September 30th. Deere & Company’s dividend payout ratio is 20.06%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on DE shares. Deutsche Bank Aktiengesellschaft dropped their target price on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. JPMorgan Chase & Co. lifted their price target on Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a research note on Friday, October 11th. Citigroup lifted their price target on Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Evercore ISI lifted their price target 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. Finally, BMO Capital Markets began coverage on Deere & Company in a research note on Friday, August 9th. They issued a “market perform” rating and a $400.00 price target for the company. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $420.69.

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.