Sheaff Brock Investment Advisors LLC Decreases Stock Holdings in Deere & Company (NYSE:DE)

Sheaff Brock Investment Advisors LLC reduced its holdings in shares of Deere & Company (NYSE:DE) by 5.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,183 shares of the industrial products company’s stock after selling 136 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Deere & Company were worth $911,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of DE. Fairscale Capital LLC purchased a new position in shares of Deere & Company in the second quarter valued at $26,000. Pineridge Advisors LLC boosted 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 valued at $27,000 after purchasing an additional 58 shares during the period. Livelsberger Financial Advisory purchased a new position in shares of Deere & Company in the third quarter valued at $32,000. Olistico Wealth LLC purchased a new position in shares of Deere & Company in the second quarter valued at $37,000. Finally, Centennial Bank AR boosted 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 valued at $39,000 after purchasing an additional 84 shares during the period. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on DE. Oppenheimer cut their price target on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Bank of America upped their price target on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Morgan Stanley cut their price target on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. JPMorgan Chase & Co. upped their price target on shares of Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a report on Friday, October 11th. Finally, Citigroup upped their price target on shares of Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Twelve research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $420.69.

Deere & Company Stock Up 1.1 %

DE stock opened at $398.95 on Friday. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $420.47. The firm’s 50-day simple moving average is $404.03 and its 200 day simple moving average is $385.69. The stock has a market cap of $109.15 billion, a PE ratio of 13.61, a price-to-earnings-growth ratio of 1.48 and a beta of 0.93.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping 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 analysts’ expectations of $10.94 billion. During the same quarter last year, the company earned $10.20 EPS. The company’s revenue for the quarter was down 20.3% compared to the same quarter last year. As a group, sell-side analysts predict that Deere & Company will post 25 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were issued a $1.47 dividend. The ex-dividend date was Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.47%. 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.