Deere & Company (NYSE:DE) Shares Sold by Bray Capital Advisors

Bray Capital Advisors cut its holdings in Deere & Company (NYSE:DE) by 1.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,200 shares of the industrial products company’s stock after selling 52 shares during the period. Bray Capital Advisors’ holdings in Deere & Company were worth $2,170,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Oppenheimer Asset Management Inc. grew its holdings in shares of Deere & Company by 20.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock worth $5,906,000 after buying an additional 2,692 shares during the last quarter. Balentine LLC purchased a new position in shares of Deere & Company during the third quarter worth about $710,000. Royal Fund Management LLC grew its holdings in shares of Deere & Company by 99.8% during the third 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 during the last quarter. New Century Financial Group LLC purchased a new position in shares of Deere & Company during the third quarter worth about $1,052,000. Finally, Manning & Napier Advisors LLC purchased a new stake in Deere & Company in the 2nd quarter valued at approximately $24,984,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on DE shares. Morgan Stanley lowered their price objective on Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. BMO Capital Markets started coverage on Deere & Company in a report on Friday, August 9th. They issued a “market perform” rating and a $400.00 price objective on the stock. Evercore ISI lifted their price objective 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 lowered 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. Finally, Citigroup lifted their price objective on Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $420.69.

Deere & Company Trading Down 4.2 %

Shares of Deere & Company stock opened at $393.99 on Friday. 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 has a 1 year low of $340.20 and a 1 year high of $420.47. The company has a market capitalization of $107.80 billion, a P/E ratio of 13.44, a P/E/G ratio of 1.52 and a beta of 0.93. The business has a 50 day moving average price of $403.02 and a 200 day moving average price of $385.69.

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 firm had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. During the same period in the previous year, the firm posted $10.20 EPS. The company’s quarterly revenue was down 20.3% compared to the same quarter last year. Sell-side analysts anticipate that Deere & Company will post 25 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were given 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 1.49%. Deere & Company’s dividend payout ratio is currently 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.