J.P. Marvel Investment Advisors LLC Sells 409 Shares of Deere & Company (NYSE:DE)

J.P. Marvel Investment Advisors LLC reduced its holdings in shares of Deere & Company (NYSE:DE) by 1.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,044 shares of the industrial products company’s stock after selling 409 shares during the period. Deere & Company comprises 1.8% of J.P. Marvel Investment Advisors LLC’s portfolio, making the stock its 15th largest holding. J.P. Marvel Investment Advisors LLC’s holdings in Deere & Company were worth $11,286,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in DE. Fairscale Capital LLC purchased a new stake in Deere & Company in the 2nd quarter worth approximately $26,000. Pineridge Advisors LLC increased its stake in shares of Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 58 shares in the last quarter. Livelsberger Financial Advisory purchased a new stake in shares of Deere & Company in the third quarter worth $32,000. Olistico Wealth LLC purchased a new position in shares of Deere & Company during the 2nd quarter valued at $37,000. Finally, Centennial Bank AR boosted its holdings in Deere & Company by 420.0% in the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after buying an additional 84 shares during the period. 68.58% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on DE. Truist Financial boosted their price objective on Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. BMO Capital Markets initiated coverage on Deere & Company in a report on Friday, August 9th. They issued a “market perform” rating and a $400.00 price target on the stock. Oppenheimer cut their price objective on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Bank of America boosted their target price on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Finally, Hsbc Global Res cut shares of 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $420.69.

Deere & Company Trading Up 1.3 %

Shares of NYSE DE opened at $411.16 on Friday. Deere & Company has a 1-year low of $340.20 and a 1-year 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 business’s 50 day moving average is $402.27 and its two-hundred day moving average is $385.56. The stock has a market capitalization of $112.49 billion, a P/E ratio of 14.03, a PEG ratio of 1.52 and a beta of 0.93.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping 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 firm had revenue of $11.39 billion during the quarter, compared to analysts’ expectations of $10.94 billion. During the same quarter in the previous year, the business earned $10.20 EPS. The company’s quarterly revenue was down 20.3% on a year-over-year basis. As a group, research analysts expect that Deere & Company will post 25 EPS for the current year.

Deere & Company Announces Dividend

The company 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. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.43%. Deere & Company’s dividend payout ratio (DPR) 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.