Heritage Wealth Management Inc. Has $2.23 Million Stock Holdings in Deere & Company (NYSE:DE)

Heritage Wealth Management Inc. lessened its holdings in Deere & Company (NYSE:DE) by 2.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,332 shares of the industrial products company’s stock after selling 150 shares during the quarter. Deere & Company accounts for approximately 0.7% of Heritage Wealth Management Inc.’s investment portfolio, making the stock its 29th biggest position. Heritage Wealth Management Inc.’s holdings in Deere & Company were worth $2,225,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of DE. Envestnet Portfolio Solutions Inc. raised its position in shares of Deere & Company by 37.0% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 11,157 shares of the industrial products company’s stock valued at $4,582,000 after buying an additional 3,015 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in Deere & Company by 29.5% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 5,578 shares of the industrial products company’s stock valued at $2,291,000 after acquiring an additional 1,270 shares in the last quarter. PFG Advisors lifted its position in shares of Deere & Company by 0.8% during the 1st quarter. PFG Advisors now owns 6,415 shares of the industrial products company’s stock valued at $2,635,000 after acquiring an additional 50 shares during the period. Oppenheimer Asset Management Inc. raised its stake in Deere & Company by 10.8% in the first quarter. Oppenheimer Asset Management Inc. now owns 13,116 shares of the industrial products company’s stock valued at $5,387,000 after purchasing an additional 1,279 shares in the last quarter. Finally, Sustainable Insight Capital Management LLC increased its holdings in Deere & Company by 9.1% in the 1st quarter. Sustainable Insight Capital Management LLC now owns 4,786 shares of the industrial products company’s stock valued at $1,966,000 after buying an additional 400 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Price Performance

NYSE DE traded down $9.08 during trading on Friday, reaching $402.08. The company’s stock had a trading volume of 201,886 shares, compared to its average volume of 1,429,460. The firm has a fifty day moving average of $402.27 and a 200 day moving average of $385.56. 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 $110.01 billion, a PE ratio of 14.03, a P/E/G ratio of 1.52 and a beta of 0.93. 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 earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.63 by $0.66. The business had revenue of $11.39 billion during the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. During the same quarter in the prior year, the firm earned $10.20 earnings per share. Deere & Company’s revenue for the quarter was down 20.3% on a year-over-year basis. Analysts expect that Deere & Company will post 25 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business 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 $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Monday, September 30th. Deere & Company’s dividend payout ratio is presently 20.06%.

Analyst Ratings Changes

Several research firms recently issued reports on DE. Oppenheimer reduced their price target on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Evercore ISI raised their target price on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a report on Monday, August 19th. Deutsche Bank Aktiengesellschaft lowered their price target on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a report on Thursday, August 8th. Morgan Stanley reduced their price objective on Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. Finally, BMO Capital Markets assumed coverage on shares of Deere & Company in a report on Friday, August 9th. They issued a “market perform” rating and a $400.00 target price for the company. Twelve equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Deere & Company currently has an average rating of “Hold” and an average target price 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.