Valley Wealth Managers Inc. Lowers Stock Position in Deere & Company (NYSE:DE)

Valley Wealth Managers Inc. trimmed its stake in Deere & Company (NYSE:DE) by 89.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 87 shares of the industrial products company’s stock after selling 773 shares during the period. Valley Wealth Managers Inc.’s holdings in Deere & Company were worth $36,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Oppenheimer Asset Management Inc. boosted its holdings in Deere & Company by 20.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock valued at $5,906,000 after acquiring an additional 2,692 shares during the period. Chase Investment Counsel Corp boosted its stake in shares of Deere & Company by 53.8% in the third quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock valued at $1,669,000 after purchasing an additional 1,400 shares during the period. Balentine LLC purchased a new position in shares of Deere & Company in the third quarter valued at approximately $710,000. Royal Fund Management LLC grew its holdings in shares of 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. Finally, New Century Financial Group LLC purchased a new stake in Deere & Company during the 3rd quarter worth approximately $1,052,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Citigroup raised their price target on shares of Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. HSBC cut Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Truist Financial increased their price target on Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft lowered their price objective on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. Finally, Oppenheimer reduced their target price 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. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $420.69.

Deere & Company Price Performance

Deere & Company stock opened at $398.95 on Friday. Deere & Company has a 12 month low of $340.20 and a 12 month high of $420.47. The stock has a market capitalization of $109.15 billion, a PE ratio of 13.61, a price-to-earnings-growth ratio of 1.48 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. The business has a 50 day simple moving average of $404.03 and a 200-day simple moving average of $385.69.

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 analysts’ consensus estimates of $5.63 by $0.66. The business had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The 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 business posted $10.20 EPS. Equities analysts predict that Deere & Company will post 25 earnings per share for the current year.

Deere & Company Dividend Announcement

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

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.