Investment House LLC Sells 1,464 Shares of Deere & Company $DE

Investment House LLC trimmed its holdings in shares of Deere & Company (NYSE:DE) by 9.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 14,688 shares of the industrial products company’s stock after selling 1,464 shares during the quarter. Investment House LLC’s holdings in Deere & Company were worth $9,864,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DE. FARMERS & MERCHANTS TRUST Co OF LONG BEACH purchased a new stake in Deere & Company during the third quarter worth approximately $298,000. JSF Financial LLC increased its position in shares of Deere & Company by 17.9% in the third quarter. JSF Financial LLC now owns 1,434 shares of the industrial products company’s stock worth $963,000 after acquiring an additional 218 shares in the last quarter. Marion Wealth Management raised its stake in shares of Deere & Company by 1.0% in the 3rd quarter. Marion Wealth Management now owns 3,852 shares of the industrial products company’s stock valued at $2,587,000 after acquiring an additional 40 shares during the period. Cardinal Capital Management raised its stake in shares of Deere & Company by 2.2% in the 3rd quarter. Cardinal Capital Management now owns 28,186 shares of the industrial products company’s stock valued at $18,974,000 after acquiring an additional 597 shares during the period. Finally, Magnus Financial Group LLC raised its stake in shares of Deere & Company by 1.4% in the 3rd quarter. Magnus Financial Group LLC now owns 1,336 shares of the industrial products company’s stock valued at $897,000 after acquiring an additional 19 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on DE shares. CICC Research assumed coverage on shares of Deere & Company in a report on Sunday, September 13th. They set an “outperform” rating on the stock. Nomura upgraded Deere & Company to a “buy” rating in a report on Monday, August 31st. Robert W. Baird raised Deere & Company from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $640.00 to $800.00 in a research report on Monday, August 31st. Seaport Research Partners set a $570.00 price objective on Deere & Company in a research note on Friday, August 14th. Finally, Barclays upped their target price on Deere & Company from $640.00 to $675.00 and gave the stock an “overweight” rating in a research report on Monday, August 24th. Seventeen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $688.10.

Deere & Company Price Performance

Shares of DE stock opened at $643.25 on Friday. The firm has a fifty day simple moving average of $659.66 and a 200-day simple moving average of $614.01. The company has a market capitalization of $173.43 billion, a PE ratio of 35.74, a price-to-earnings-growth ratio of 2.33 and a beta of 0.86. Deere & Company has a twelve month low of $454.50 and a twelve month high of $721.22. The company has a current ratio of 2.10, a quick ratio of 1.89 and a debt-to-equity ratio of 1.45.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.69 by $0.41. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The firm had revenue of $12.61 billion for the quarter, compared to the consensus estimate of $10.81 billion. During the same quarter in the previous year, the firm posted $4.75 EPS. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. Equities research analysts anticipate that Deere & Company will post 18.11 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 Monday, November 9th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $1.62 per share. The ex-dividend date is Wednesday, September 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.0%. Deere & Company’s dividend payout ratio (DPR) is currently 36.00%.

Deere & Company Company Profile

Deere & Company, founded by blacksmith John Deere in 1837, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. The company is headquartered in Moline, Illinois, and operates under the John Deere brand.

Its products include tractors, combines, planters, sprayers, harvesting equipment, loaders, excavators, motor graders, forestry machines, mowers and compact utility equipment. Deere also provides replacement parts, equipment support, financing and technology-enabled solutions designed to improve machine productivity, automation and precision in farming and other industries.

Deere serves customers through dealerships and operations across North America, Latin America, Europe and other international markets.