Archer Investment Corp Sells 27 Shares of Deere & Company (NYSE:DE)

Archer Investment Corp lessened its position in Deere & Company (NYSE:DE) by 4.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 524 shares of the industrial products company’s stock after selling 27 shares during the quarter. Archer Investment Corp’s holdings in Deere & Company were worth $219,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in DE. Fairscale Capital LLC purchased a new position in shares of Deere & Company during the second quarter worth approximately $26,000. Pineridge Advisors LLC increased its holdings in Deere & Company by 725.0% during 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 period. Livelsberger Financial Advisory bought a new stake in Deere & Company during the 3rd quarter valued at $32,000. Olistico Wealth LLC purchased a new stake in shares of Deere & Company in the 2nd quarter worth $37,000. Finally, Centennial Bank AR lifted its holdings 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 worth $39,000 after buying an additional 84 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Up 1.1 %

DE stock opened at $398.95 on Friday. Deere & Company has a one year low of $340.20 and a one year high of $420.47. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. The firm’s fifty day moving average is $404.03 and its 200 day moving average is $385.69. The firm has a market cap of $109.15 billion, a PE ratio of 13.61, a P/E/G ratio of 1.48 and a beta of 0.93.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, beating the consensus estimate of $5.63 by $0.66. The firm had revenue of $11.39 billion during the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. Deere & Company’s revenue for the quarter was down 20.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $10.20 EPS. On average, research analysts forecast that Deere & Company will post 25 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors 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 1.47%. Deere & Company’s dividend payout ratio is currently 20.06%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Morgan Stanley decreased their price objective on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Deutsche Bank Aktiengesellschaft reduced their price target 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. JPMorgan Chase & Co. increased their price objective on shares of Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a research note on Friday, October 11th. Citigroup boosted their price objective 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. Finally, HSBC lowered Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $420.69.

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.