Evermay Wealth Management LLC Cuts Stock Position in Deere & Company (NYSE:DE)

Evermay Wealth Management LLC reduced its stake in Deere & Company (NYSE:DE) by 19.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 155 shares of the industrial products company’s stock after selling 38 shares during the period. Evermay Wealth Management LLC’s holdings in Deere & Company were worth $65,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in DE. Edge Financial Advisors LLC acquired a new stake in Deere & Company in the third quarter valued at about $377,000. Pathway Financial Advisers LLC grew its position in shares of Deere & Company by 53,338.6% in the third quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock valued at $356,602,000 after purchasing an additional 852,885 shares during the last quarter. Avitas Wealth Management LLC increased its position in Deere & Company by 1.6% during the third quarter. Avitas Wealth Management LLC now owns 7,107 shares of the industrial products company’s stock worth $2,966,000 after buying an additional 112 shares in the last quarter. Childress Capital Advisors LLC raised its stake in Deere & Company by 8.9% in the 3rd quarter. Childress Capital Advisors LLC now owns 661 shares of the industrial products company’s stock valued at $276,000 after purchasing an additional 54 shares during the last quarter. Finally, Eagle Strategies LLC lifted its stake in shares of Deere & Company by 1.9% during the third quarter. Eagle Strategies LLC now owns 1,423 shares of the industrial products company’s stock valued at $594,000 after buying an additional 27 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on DE shares. 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 report on Thursday, August 8th. Evercore ISI increased their price objective on shares of Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research report on Monday, August 19th. JPMorgan Chase & Co. increased their price target on Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a report on Friday, October 11th. Citigroup boosted their target price on shares of Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Finally, HSBC downgraded Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $420.69.

Deere & Company Trading Down 0.3 %

Shares of DE opened at $404.69 on Thursday. The business’s 50-day moving average price is $399.90 and its 200 day moving average price is $385.36. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. The stock has a market capitalization of $111.52 billion, a P/E ratio of 12.18, a P/E/G ratio of 1.35 and a beta of 0.92. Deere & Company has a 1-year low of $340.20 and a 1-year high of $420.47.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (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 business had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. During the same quarter in the previous year, the business earned $10.20 earnings per share. The firm’s revenue was down 20.3% compared to the same quarter last year. Analysts expect that Deere & Company will post 25.03 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.45%. Deere & Company’s payout ratio is presently 17.70%.

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.