ABLE Financial Group LLC Reduces Holdings in Deere & Company (NYSE:DE)

ABLE Financial Group LLC reduced its stake in Deere & Company (NYSE:DE) by 10.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 579 shares of the industrial products company’s stock after selling 64 shares during the period. ABLE Financial Group LLC’s holdings in Deere & Company were worth $242,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Fairscale Capital LLC bought a new position in shares of Deere & Company during the second quarter valued at approximately $26,000. Pineridge Advisors LLC raised its position in shares of Deere & Company by 725.0% in the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 58 shares during the last quarter. Livelsberger Financial Advisory purchased a new stake in Deere & Company during the 3rd quarter valued at about $32,000. Olistico Wealth LLC purchased a new position in Deere & Company in the second quarter worth about $37,000. Finally, Centennial Bank AR lifted its stake in shares of Deere & Company by 420.0% in the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after buying an additional 84 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Evercore ISI lifted their target price on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a report on Monday, August 19th. Citigroup upped their target price on shares of Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Truist Financial boosted their price objective 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. Bank of America lifted their target price on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Finally, Hsbc Global Res downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $420.69.

Deere & Company Trading Down 4.2 %

Deere & Company stock opened at $393.99 on Friday. Deere & Company has a 12-month low of $340.20 and a 12-month high of $420.47. The firm has a market capitalization of $107.80 billion, a price-to-earnings ratio of 13.44, a P/E/G ratio of 1.52 and a beta of 0.93. The firm has a 50 day moving average of $403.02 and a 200 day moving average of $385.69. 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 announced its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. The firm had revenue of $11.39 billion during the quarter, compared to analysts’ expectations of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The company’s revenue for the quarter was down 20.3% compared to the same quarter last year. During the same period in the prior year, the company posted $10.20 earnings per share. As a group, research analysts predict that Deere & Company will post 25 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, September 30th were paid a $1.47 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.49%. Deere & Company’s payout ratio is presently 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.