Deere & Company (NYSE:DE) Shares Sold by Asset Advisors Investment Management LLC

Asset Advisors Investment Management LLC lowered its stake in shares of Deere & Company (NYSE:DE) by 20.7% in the third quarter, HoldingsChannel reports. The fund owned 11,306 shares of the industrial products company’s stock after selling 2,955 shares during the quarter. Asset Advisors Investment Management LLC’s holdings in Deere & Company were worth $4,718,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of DE. Tidal Investments LLC raised its position in shares of Deere & Company by 56.3% in the 3rd quarter. Tidal Investments LLC now owns 38,689 shares of the industrial products company’s stock worth $16,146,000 after buying an additional 13,934 shares during the period. Wilmington Savings Fund Society FSB increased its stake in Deere & Company by 162.0% during the third quarter. Wilmington Savings Fund Society FSB now owns 21,563 shares of the industrial products company’s stock worth $8,999,000 after acquiring an additional 13,334 shares during the last quarter. Arvest Bank Trust Division purchased a new position in shares of Deere & Company in the 3rd quarter worth about $1,252,000. Pine Valley Investments Ltd Liability Co lifted its stake in shares of Deere & Company by 13.9% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 9,879 shares of the industrial products company’s stock valued at $4,131,000 after purchasing an additional 1,205 shares in the last quarter. Finally, SkyView Investment Advisors LLC grew its holdings in shares of Deere & Company by 6.6% during the 3rd quarter. SkyView Investment Advisors LLC now owns 1,098 shares of the industrial products company’s stock worth $458,000 after purchasing an additional 68 shares during the period. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DE has been the topic of a number of recent research reports. Bank of America lifted their price target on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. Barclays upped their price target on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Jefferies Financial Group lowered Deere & Company from a “buy” rating to a “hold” rating and set a $510.00 price objective on the stock. in a research report on Friday, December 6th. Hsbc Global Res downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Finally, Truist Financial raised their target price on Deere & Company from $496.00 to $538.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Thirteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $443.28.

Deere & Company Price Performance

Shares of DE opened at $439.48 on Friday. Deere & Company has a 12 month low of $340.20 and a 12 month high of $469.39. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. The stock has a fifty day moving average price of $419.96 and a 200 day moving average price of $392.05. The company has a market cap of $120.24 billion, a P/E ratio of 17.17, a PEG ratio of 1.91 and a beta of 0.96.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating the consensus estimate of $3.89 by $0.66. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The firm had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. During the same period last year, the firm posted $8.26 EPS. Deere & Company’s quarterly revenue was down 32.8% compared to the same quarter last year. On average, research analysts forecast that Deere & Company will post 19.52 earnings per share for the current year.

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Tuesday, December 31st will be given a $1.62 dividend. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. This represents a $6.48 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend is Tuesday, December 31st. Deere & Company’s dividend payout ratio (DPR) is currently 22.97%.

Deere & Company 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.