Venture Visionary Partners LLC Lowers Stock Holdings in Deere & Company (NYSE:DE)

Venture Visionary Partners LLC reduced its position in Deere & Company (NYSE:DE) by 2.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,759 shares of the industrial products company’s stock after selling 84 shares during the quarter. Venture Visionary Partners LLC’s holdings in Deere & Company were worth $1,569,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Oppenheimer Asset Management Inc. boosted its stake in 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 buying an additional 2,692 shares in the last quarter. Aviance Capital Partners LLC bought a new stake in shares of Deere & Company in the 1st quarter worth approximately $2,783,000. Royal Fund Management LLC boosted its stake 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 valued at $2,694,000 after purchasing an additional 3,223 shares in the last quarter. Global Assets Advisory LLC bought a new position in shares of Deere & Company during the 1st quarter valued at $6,359,000. Finally, Manning & Napier Advisors LLC purchased a new position in Deere & Company in the 2nd quarter worth $24,984,000. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Trading Down 0.4 %

Shares of NYSE DE opened at $407.05 on Tuesday. Deere & Company has a 1 year low of $340.20 and a 1 year high of $420.47. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87. The firm has a 50-day moving average of $394.28 and a 200 day moving average of $385.26. The stock has a market cap of $112.17 billion, a P/E ratio of 12.25, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92.

Deere & Company (NYSE:DE) last released its earnings results 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 firm had revenue of $11.39 billion during the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The business’s revenue was down 20.3% on a year-over-year basis. During the same period last year, the business earned $10.20 earnings per share. As a group, sell-side analysts expect that Deere & Company will post 25.03 EPS for the current fiscal year.

Deere & Company Announces Dividend

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

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Citigroup upped their price target on shares of Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Evercore ISI raised their price target on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research report on Monday, August 19th. Morgan Stanley lowered their price objective 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. Deutsche Bank Aktiengesellschaft cut their target price 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. Finally, Bank of America upped their price target on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $420.69.

Deere & 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.