Deere & Company (NYSE:DE) Shares Sold by Lake Street Private Wealth LLC

Lake Street Private Wealth LLC cut its position in Deere & Company (NYSE:DE) by 76.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 648 shares of the industrial products company’s stock after selling 2,051 shares during the quarter. Lake Street Private Wealth LLC’s holdings in Deere & Company were worth $270,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Oppenheimer Asset Management Inc. grew its stake in shares of Deere & Company by 20.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock worth $5,906,000 after acquiring an additional 2,692 shares in the last quarter. Aviance Capital Partners LLC acquired a new position in Deere & Company during the 1st quarter worth $2,783,000. Royal Fund Management LLC increased its holdings in Deere & Company by 99.8% during the 3rd quarter. Royal Fund Management LLC now owns 6,454 shares of the industrial products company’s stock worth $2,694,000 after purchasing an additional 3,223 shares during the period. New Century Financial Group LLC acquired a new stake in Deere & Company in the 3rd quarter valued at about $1,052,000. Finally, Manning & Napier Advisors LLC purchased a new position in shares of Deere & Company in the 2nd quarter valued at about $24,984,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on DE. Truist Financial raised their target price on shares of Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. BMO Capital Markets assumed coverage on shares of Deere & Company in a research note on Friday, August 9th. They set a “market perform” rating and a $400.00 target price for the company. Oppenheimer cut their price target on Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Finally, Raymond James began coverage on Deere & Company in a research report on Friday, June 28th. They set an “outperform” rating and a $420.00 price objective for the company. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Deere & Company currently has a consensus rating of “Hold” and an average price target of $420.69.

Deere & Company Price Performance

DE stock opened at $408.64 on Thursday. The business has a 50 day simple moving average of $396.54 and a 200-day simple moving average of $385.38. The company has a market capitalization of $112.61 billion, a P/E ratio of 12.30, a PEG ratio of 1.35 and a beta of 0.92. Deere & Company has a twelve month low of $340.20 and a twelve month high of $420.47. 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 net margin of 14.69% and a return on equity of 36.71%. The company had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. During the same period last year, the firm posted $10.20 EPS. Deere & Company’s revenue for the quarter was down 20.3% on a year-over-year basis. As a group, equities analysts anticipate that Deere & Company will post 25.03 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s dividend payout ratio is presently 17.70%.

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.