PDS Planning Inc Sells 252 Shares of Deere & Company (NYSE:DE)

PDS Planning Inc lowered its stake in shares of Deere & Company (NYSE:DE) by 3.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,246 shares of the industrial products company’s stock after selling 252 shares during the quarter. PDS Planning Inc’s holdings in Deere & Company were worth $2,607,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of DE. Oppenheimer Asset Management Inc. boosted its position 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 acquiring an additional 2,692 shares in the last quarter. Royal Fund Management LLC raised its holdings in shares of Deere & Company by 99.8% in the 3rd quarter. Royal Fund Management LLC now owns 6,454 shares of the industrial products company’s stock worth $2,694,000 after buying an additional 3,223 shares in the last quarter. New Century Financial Group LLC bought a new position in shares of Deere & Company during the 3rd quarter worth approximately $1,052,000. Manning & Napier Advisors LLC acquired a new stake in Deere & Company in the 2nd quarter valued at $24,984,000. Finally, Handelsbanken Fonder AB grew its position in Deere & Company by 2.2% in the third quarter. Handelsbanken Fonder AB now owns 90,871 shares of the industrial products company’s stock valued at $37,923,000 after acquiring an additional 1,963 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Trading Up 0.8 %

NYSE:DE traded up $3.16 during mid-day trading on Monday, hitting $403.58. The company had a trading volume of 124,505 shares, compared to its average volume of 1,435,204. The firm has a market cap of $110.42 billion, a P/E ratio of 13.66, a P/E/G ratio of 1.35 and a beta of 0.93. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $420.47. The business’s fifty day moving average is $400.85 and its two-hundred day moving average is $385.41. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping the consensus estimate of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The business had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. During the same quarter last year, the firm earned $10.20 EPS. Deere & Company’s quarterly revenue was down 20.3% compared to the same quarter last year. As a group, research analysts expect that Deere & Company will post 25 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be given a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s dividend payout ratio is currently 20.06%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on DE shares. Morgan Stanley reduced their target price on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. Oppenheimer dropped their price objective on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. HSBC cut shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Deutsche Bank Aktiengesellschaft dropped 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. Finally, Hsbc Global Res lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Twelve research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $420.69.

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.