Frank Rimerman Advisors LLC Has $1.60 Million Stock Holdings in Deere & Company (NYSE:DE)

Frank Rimerman Advisors LLC lowered its stake in shares of Deere & Company (NYSE:DE) by 3.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,830 shares of the industrial products company’s stock after selling 130 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Deere & Company were worth $1,598,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Pineridge Advisors LLC increased its position in Deere & Company by 725.0% during the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 58 shares during the period. Fairscale Capital LLC bought a new position in Deere & Company during the second quarter worth $26,000. Livelsberger Financial Advisory bought a new position in Deere & Company during the third quarter worth $32,000. Olistico Wealth LLC bought a new position in Deere & Company during the second quarter worth $37,000. Finally, Centennial Bank AR increased its position in Deere & Company by 420.0% during the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 84 shares during the period. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Down 0.8 %

Shares of NYSE DE opened at $407.93 on Friday. The firm’s 50-day simple moving average is $397.89 and its 200 day simple moving average is $385.35. The company has a market cap of $112.41 billion, a price-to-earnings ratio of 12.28, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92. 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 12-month low of $340.20 and a 12-month high of $420.47.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. The company had revenue of $11.39 billion during the quarter, compared to analysts’ expectations 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 was down 20.3% on a year-over-year basis. During the same period in the prior year, the business posted $10.20 EPS. On average, research analysts expect that Deere & Company will post 25.03 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be paid 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 1.44%. Deere & Company’s payout ratio is 17.70%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on DE shares. Hsbc Global Res lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Morgan Stanley decreased their price target on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. JPMorgan Chase & Co. lifted their price target on shares of Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a research note on Friday, October 11th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Finally, Oppenheimer decreased their price target on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Twelve investment 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, the stock currently has a consensus rating of “Hold” and an average price target of $420.69.

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.