Independent Advisor Alliance Lowers Position in Deere & Company (NYSE:DE)

Independent Advisor Alliance lessened its stake in Deere & Company (NYSE:DE) by 1.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,547 shares of the industrial products company’s stock after selling 140 shares during the quarter. Independent Advisor Alliance’s holdings in Deere & Company were worth $3,567,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Oppenheimer Asset Management Inc. increased its position in Deere & Company by 20.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock worth $5,906,000 after purchasing an additional 2,692 shares during the last quarter. Chase Investment Counsel Corp increased its position in Deere & Company by 53.8% in the third quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock worth $1,669,000 after purchasing an additional 1,400 shares during the last quarter. Balentine LLC bought a new stake in Deere & Company in the third quarter worth $710,000. Douglass Winthrop Advisors LLC increased its position in Deere & Company by 2.9% in the third quarter. Douglass Winthrop Advisors LLC now owns 273,207 shares of the industrial products company’s stock worth $114,017,000 after purchasing an additional 7,753 shares during the last quarter. Finally, Royal Fund Management LLC increased its position in Deere & Company by 99.8% in the third quarter. Royal Fund Management LLC now owns 6,454 shares of the industrial products company’s stock worth $2,694,000 after purchasing an additional 3,223 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on DE shares. HSBC cut shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Deutsche Bank Aktiengesellschaft cut 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 report on Thursday, August 8th. Citigroup boosted their price objective on shares of Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Evercore ISI boosted their price objective on shares of Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research report on Monday, August 19th. Finally, Truist Financial boosted their price objective on shares of Deere & Company from $496.00 to $538.00 and gave the company a “buy” rating in a research report on Friday. Thirteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $433.00.

Deere & Company Stock Up 3.6 %

NYSE:DE opened at $462.81 on Tuesday. Deere & Company has a 1-year low of $340.20 and a 1-year high of $469.39. The company has a 50-day moving average of $408.35 and a 200 day moving average of $386.60. The firm has a market cap of $126.62 billion, a PE ratio of 18.08, a price-to-earnings-growth ratio of 1.75 and a beta of 0.93. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, topping analysts’ consensus estimates of $3.90 by $0.65. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The company had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.20 billion. During the same period in the prior year, the firm earned $8.26 earnings per share. The firm’s revenue for the quarter was down 32.8% compared to the same quarter last year. As a group, research analysts anticipate that Deere & Company will post 21.31 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend was Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is presently 22.97%.

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.