Deere & Company (NYSE:DE) Shares Sold by Drive Wealth Management LLC

Drive Wealth Management LLC cut its stake in Deere & Company (NYSE:DE) by 62.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 696 shares of the industrial products company’s stock after selling 1,155 shares during the period. Drive Wealth Management LLC’s holdings in Deere & Company were worth $291,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC increased its stake in shares of Deere & Company by 16.5% in the first quarter. O Shaughnessy Asset Management LLC now owns 20,235 shares of the industrial products company’s stock valued at $8,311,000 after purchasing an additional 2,868 shares during the period. Lake Street Advisors Group LLC lifted its holdings in Deere & Company by 19.6% in the first quarter. Lake Street Advisors Group LLC now owns 2,521 shares of the industrial products company’s stock worth $1,039,000 after purchasing an additional 413 shares during the period. InterOcean Capital Group LLC increased its stake in Deere & Company by 3.0% during the 1st quarter. InterOcean Capital Group LLC now owns 2,770 shares of the industrial products company’s stock valued at $1,138,000 after buying an additional 81 shares during the period. Crewe Advisors LLC bought a new stake in shares of Deere & Company during the 1st quarter worth about $69,000. Finally, Payden & Rygel Investment Group bought a new stake in Deere & Company during the first quarter worth approximately $945,000. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Price Performance

NYSE DE opened at $404.63 on Tuesday. 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 firm has a market cap of $110.71 billion, a P/E ratio of 13.81, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93. The stock’s 50-day moving average is $404.38 and its two-hundred day moving average is $385.70. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $420.47.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were given a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date was Monday, September 30th. Deere & Company’s dividend payout ratio is 20.06%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Morgan Stanley dropped their price objective on Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. BMO Capital Markets initiated coverage on shares of Deere & Company in a research report on Friday, August 9th. They issued a “market perform” rating and a $400.00 price target on the stock. Hsbc Global Res downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Deutsche Bank Aktiengesellschaft lowered their price objective 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, Citigroup increased their target price on shares of Deere & Company from $395.00 to $420.00 and gave the company 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. According to data from MarketBeat, the company presently has an average 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.