Aviance Capital Partners LLC Sells 628 Shares of Deere & Company (NYSE:DE)

Aviance Capital Partners LLC cut its position in shares of Deere & Company (NYSE:DE) by 9.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,902 shares of the industrial products company’s stock after selling 628 shares during the period. Aviance Capital Partners LLC’s holdings in Deere & Company were worth $2,463,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DE. Mattern Wealth Management LLC raised its holdings in shares of Deere & Company by 1.3% in the third quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock worth $786,000 after buying an additional 25 shares during the period. Carret Asset Management LLC increased its stake in Deere & Company by 0.3% in the third quarter. Carret Asset Management LLC now owns 8,148 shares of the industrial products company’s stock worth $3,401,000 after purchasing an additional 25 shares during the period. Round Rock Advisors LLC lifted its position in shares of Deere & Company by 2.0% during the third quarter. Round Rock Advisors LLC now owns 1,252 shares of the industrial products company’s stock worth $522,000 after purchasing an additional 25 shares during the last quarter. Centaurus Financial Inc. boosted its stake in shares of Deere & Company by 2.3% during the second quarter. Centaurus Financial Inc. now owns 1,160 shares of the industrial products company’s stock valued at $433,000 after purchasing an additional 26 shares during the period. Finally, Cornell Pochily Investment Advisors Inc. grew its holdings in shares of Deere & Company by 0.7% in the third quarter. Cornell Pochily Investment Advisors Inc. now owns 3,495 shares of the industrial products company’s stock worth $1,459,000 after purchasing an additional 26 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DE has been the subject of several research reports. JPMorgan Chase & Co. boosted their price objective on shares of Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a research report on Friday, October 11th. Evercore ISI boosted their price target on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a report on Monday, August 19th. Deutsche Bank Aktiengesellschaft reduced their price objective on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. Hsbc Global Res cut Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Finally, HSBC lowered Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Twelve equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $420.69.

Deere & Company Stock Performance

Shares of DE opened at $404.63 on Tuesday. Deere & Company has a 12 month low of $340.20 and a 12 month high of $420.47. The stock has a fifty day moving average price of $404.38 and a 200-day moving average price of $385.70. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. The firm has a market cap of $110.71 billion, a PE ratio of 13.81, a P/E/G ratio of 1.52 and a beta of 0.93.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were issued a dividend of $1.47 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.45%. Deere & Company’s dividend payout ratio (DPR) is currently 20.06%.

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.