Empower Advisory Group LLC Trims Position in Deere & Company (NYSE:DE)

Empower Advisory Group LLC lessened its position in shares of Deere & Company (NYSE:DE) by 1.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 35,924 shares of the industrial products company’s stock after selling 414 shares during the quarter. Empower Advisory Group LLC’s holdings in Deere & Company were worth $14,992,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of DE. Fairscale Capital LLC purchased a new stake in Deere & Company in the second quarter worth about $26,000. Pineridge Advisors LLC increased its position in Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after buying an additional 58 shares in the last quarter. Livelsberger Financial Advisory purchased a new stake in Deere & Company in the third quarter worth about $32,000. Olistico Wealth LLC purchased a new stake in Deere & Company in the second quarter worth about $37,000. Finally, Centennial Bank AR increased its position in Deere & Company by 420.0% in the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after buying an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on DE shares. Oppenheimer cut their target price on Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Hsbc Global Res cut Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. BMO Capital Markets started coverage on Deere & Company in a research report on Friday, August 9th. They set a “market perform” rating and a $400.00 target price for the company. Morgan Stanley cut their target price on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Finally, Deutsche Bank Aktiengesellschaft cut their target price 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. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $420.69.

Deere & Company Price Performance

NYSE:DE opened at $389.45 on Thursday. The firm has a market capitalization of $106.55 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 1.50 and a beta of 0.93. Deere & Company has a 1 year low of $340.20 and a 1 year high of $420.47. The business has a 50 day simple moving average of $403.52 and a 200-day simple moving average of $385.61. 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 posted its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating 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%. The company’s revenue for the quarter was down 20.3% on a year-over-year basis. During the same period last year, the company earned $10.20 EPS. Equities analysts forecast that Deere & Company will post 25 EPS for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were paid a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend was Monday, September 30th. Deere & Company’s payout ratio is 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.