Janney Montgomery Scott LLC Sells 5,718 Shares of Deere & Company (NYSE:DE)

Janney Montgomery Scott LLC decreased its holdings in Deere & Company (NYSE:DE) by 4.4% in the third quarter, HoldingsChannel.com reports. The fund owned 124,364 shares of the industrial products company’s stock after selling 5,718 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Deere & Company were worth $51,901,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Mattern Wealth Management LLC grew its position in 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 acquiring an additional 25 shares in the last quarter. Carret Asset Management LLC lifted its stake in shares of Deere & Company by 0.3% in the 3rd quarter. Carret Asset Management LLC now owns 8,148 shares of the industrial products company’s stock valued at $3,401,000 after purchasing an additional 25 shares during the last quarter. Centaurus Financial Inc. boosted its holdings in shares of Deere & Company by 2.3% in the 2nd quarter. Centaurus Financial Inc. now owns 1,160 shares of the industrial products company’s stock worth $433,000 after purchasing an additional 26 shares during the period. Cornell Pochily Investment Advisors Inc. increased its position in shares of Deere & Company by 0.7% during the 3rd quarter. Cornell Pochily Investment Advisors Inc. now owns 3,495 shares of the industrial products company’s stock valued at $1,459,000 after purchasing an additional 26 shares during the last quarter. Finally, Legacy Wealth Asset Management LLC raised its holdings in Deere & Company by 1.9% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 1,385 shares of the industrial products company’s stock valued at $578,000 after buying an additional 26 shares during the period. Institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. HSBC lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Bank of America lifted their price objective on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Hsbc Global Res cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Finally, Citigroup lifted their price target 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 stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $420.69.

Deere & Company Trading Down 1.1 %

DE opened at $400.42 on Monday. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. Deere & Company has a 52 week low of $340.20 and a 52 week high of $420.47. The business’s 50 day moving average is $400.85 and its two-hundred day moving average is $385.41. The firm has a market cap of $109.55 billion, a price-to-earnings ratio of 13.66, a price-to-earnings-growth ratio of 1.35 and a beta of 0.93.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $10.94 billion. During the same period in the previous year, the business posted $10.20 earnings per share. Deere & Company’s quarterly revenue was down 20.3% on a year-over-year basis. On average, research analysts predict that Deere & Company will post 25 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 1.47%. The ex-dividend date is 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.