Marcum Wealth LLC Sells 370 Shares of Deere & Company (NYSE:DE)

Marcum Wealth LLC cut its stake in Deere & Company (NYSE:DE) by 32.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 758 shares of the industrial products company’s stock after selling 370 shares during the quarter. Marcum Wealth LLC’s holdings in Deere & Company were worth $316,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. grew its stake in shares of 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 purchasing an additional 2,692 shares during the period. Harbor Investment Advisory LLC grew its position in Deere & Company by 27.4% during the first quarter. Harbor Investment Advisory LLC now owns 1,730 shares of the industrial products company’s stock valued at $710,000 after buying an additional 372 shares during the period. Aviance Capital Partners LLC purchased a new stake in Deere & Company during the first quarter valued at approximately $2,783,000. Oxford Financial Group LTD. LLC raised its position in Deere & Company by 2.9% in the fourth quarter. Oxford Financial Group LTD. LLC now owns 1,827 shares of the industrial products company’s stock worth $731,000 after acquiring an additional 51 shares during the period. Finally, Range Financial Group LLC boosted its stake in shares of Deere & Company by 5.2% during the 1st quarter. Range Financial Group LLC now owns 548 shares of the industrial products company’s stock worth $225,000 after acquiring an additional 27 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Price Performance

NYSE:DE opened at $405.85 on Friday. The business’s 50-day moving average is $384.91 and its 200 day moving average is $385.30. Deere & Company has a 12 month low of $340.20 and a 12 month high of $420.47. The company has a market capitalization of $111.84 billion, a P/E ratio of 12.22, a P/E/G ratio of 1.36 and a beta of 0.92. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85.

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 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 business had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. During the same period in the prior year, the firm earned $10.20 EPS. The company’s revenue for the quarter was down 20.3% on a year-over-year basis. On average, equities research analysts forecast that Deere & Company will post 25.03 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be given a dividend of $1.47 per share. The ex-dividend date is Monday, September 30th. This represents a $5.88 annualized dividend and a yield of 1.45%. Deere & Company’s dividend payout ratio (DPR) is currently 17.70%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on DE shares. Truist Financial upped their price objective on Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. reduced their price target on Deere & Company from $375.00 to $360.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. Morgan Stanley decreased 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. BMO Capital Markets initiated coverage on Deere & Company in a research note on Friday, August 9th. They set a “market perform” rating and a $400.00 price objective for the company. Finally, Citigroup raised their target price on shares of Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a research note on Wednesday. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Deere & Company has a consensus rating of “Hold” and an average target price of $416.94.

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.