Sanctuary Advisors LLC Lowers Stake in Deere & Company (NYSE:DE)

Sanctuary Advisors LLC cut its stake in Deere & Company (NYSE:DE) by 21.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 44,411 shares of the industrial products company’s stock after selling 12,454 shares during the quarter. Sanctuary Advisors LLC’s holdings in Deere & Company were worth $19,836,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Fairscale Capital LLC purchased a new stake in shares of Deere & Company during the second quarter worth about $26,000. Livelsberger Financial Advisory purchased a new stake in Deere & Company during the 3rd quarter worth approximately $32,000. Centennial Bank AR increased its stake in Deere & Company by 420.0% during the 2nd 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 in the last quarter. Continuum Advisory LLC raised its holdings in shares of Deere & Company by 155.8% in the third quarter. Continuum Advisory LLC now owns 110 shares of the industrial products company’s stock worth $43,000 after buying an additional 67 shares during the last quarter. Finally, Darwin Wealth Management LLC acquired a new stake in shares of Deere & Company during the third quarter worth $47,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DE. Truist Financial raised their target price on Deere & Company from $496.00 to $538.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Bank of America upped their target price on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. UBS Group raised their price target on shares of Deere & Company from $404.00 to $462.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. HSBC lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Finally, Evercore ISI upped their price target on shares of Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a report on Monday, August 19th. Thirteen analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Deere & Company currently has an average rating of “Hold” and a consensus target price of $443.28.

Deere & Company Stock Down 1.9 %

DE opened at $439.48 on Friday. The company has a market cap of $120.24 billion, a PE ratio of 17.17, a price-to-earnings-growth ratio of 1.91 and a beta of 0.96. Deere & Company has a twelve month low of $340.20 and a twelve month high of $469.39. The company has a 50-day moving average price of $419.96 and a 200 day moving average price of $392.05. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, beating analysts’ consensus estimates of $3.89 by $0.66. The business had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The business’s revenue was down 32.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $8.26 earnings per share. Sell-side analysts expect that Deere & Company will post 19.52 earnings per share for the current fiscal year.

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Tuesday, December 31st will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.47%. This is a boost from Deere & Company’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend is Tuesday, December 31st. Deere & Company’s dividend payout ratio is 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.