Ascent Wealth Partners LLC Trims Holdings in Deere & Company (NYSE:DE)

Ascent Wealth Partners LLC trimmed its stake in Deere & Company (NYSE:DE) by 89.4% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 489 shares of the industrial products company’s stock after selling 4,138 shares during the period. Ascent Wealth Partners LLC’s holdings in Deere & Company were worth $204,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pineridge Advisors LLC raised its stake 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 valued at $27,000 after acquiring an additional 58 shares during the period. Fairscale Capital LLC purchased a new stake in shares of Deere & Company in the 2nd quarter valued at approximately $26,000. Livelsberger Financial Advisory purchased a new stake in shares of Deere & Company in the 3rd quarter valued at approximately $32,000. Olistico Wealth LLC purchased a new stake in shares of Deere & Company in the 2nd quarter valued at approximately $37,000. Finally, Centennial Bank AR raised its stake in shares of Deere & Company by 420.0% in the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 84 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Bank of America boosted their price target on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Evercore ISI upped their target price on shares of Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research note on Monday, August 19th. Hsbc Global Res downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Truist Financial upped their target price on shares of Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, Citigroup upped their target price on shares of Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $420.69.

Deere & Company Stock Up 1.2 %

Shares of Deere & Company stock traded up $4.99 during trading hours on Thursday, hitting $410.70. The company had a trading volume of 42,688 shares, compared to its average volume of 1,430,487. The company’s 50-day moving average is $402.27 and its two-hundred day moving average is $385.56. Deere & Company has a twelve month low of $340.20 and a twelve month 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 company has a market cap of $112.37 billion, a P/E ratio of 13.89, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93.

Deere & Company (NYSE:DE) last issued 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. 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 during the quarter, compared to analysts’ expectations of $10.94 billion. During the same quarter in the prior year, the business posted $10.20 EPS. The company’s revenue for the quarter was down 20.3% on a year-over-year basis. Analysts anticipate that Deere & Company will post 25 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

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 issued a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 1.43%. The ex-dividend date is Monday, September 30th. Deere & Company’s payout ratio is 20.06%.

Deere & Company 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.