TKG Advisors LLC Sells 31 Shares of Deere & Company (NYSE:DE)

TKG Advisors LLC reduced its position in Deere & Company (NYSE:DE) by 2.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,383 shares of the industrial products company’s stock after selling 31 shares during the period. TKG Advisors LLC’s holdings in Deere & Company were worth $577,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Oppenheimer Asset Management Inc. lifted its holdings 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 valued at $5,906,000 after purchasing an additional 2,692 shares in the last quarter. Royal Fund Management LLC grew 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 worth $2,694,000 after acquiring an additional 3,223 shares in the last quarter. New Century Financial Group LLC purchased a new stake in shares of Deere & Company in the third quarter valued at about $1,052,000. Manning & Napier Advisors LLC bought a new position in shares of Deere & Company during the second quarter valued at about $24,984,000. Finally, Handelsbanken Fonder AB boosted its holdings in Deere & Company by 2.2% during the third quarter. Handelsbanken Fonder AB now owns 90,871 shares of the industrial products company’s stock worth $37,923,000 after purchasing an additional 1,963 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on DE. Morgan Stanley decreased their price objective on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. Bank of America increased their price target on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. BMO Capital Markets began coverage on Deere & Company in a research report on Friday, August 9th. They issued a “market perform” rating and a $400.00 price objective on the stock. Truist Financial raised their target price on Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Deutsche Bank Aktiengesellschaft cut their price target 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. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $420.69.

Deere & Company Trading Up 0.9 %

Deere & Company stock traded up $3.45 during trading hours on Monday, reaching $403.87. The stock had a trading volume of 91,956 shares, compared to its average volume of 1,435,051. Deere & Company has a 52 week low of $340.20 and a 52 week high of $420.47. The stock has a market cap of $110.50 billion, a PE ratio of 13.66, a PEG ratio of 1.35 and a beta of 0.93. 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 company has a fifty day simple moving average of $400.85 and a 200-day simple moving average of $385.41.

Deere & Company (NYSE:DE) last released its earnings results 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 return on equity of 36.71% and a net margin of 14.69%. The company had revenue of $11.39 billion during the quarter, compared to analysts’ expectations of $10.94 billion. During the same quarter last year, the business posted $10.20 EPS. The firm’s revenue for the quarter was down 20.3% compared to the same quarter last year. Analysts forecast that Deere & Company will post 25 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be given a $1.47 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 annualized dividend and a yield of 1.46%. Deere & Company’s payout ratio is presently 20.06%.

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.