Mascoma Wealth Management LLC Lowers Stock Holdings in Deere & Company (NYSE:DE)

Mascoma Wealth Management LLC lessened its holdings in shares of Deere & Company (NYSE:DE) by 33.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 195 shares of the industrial products company’s stock after selling 100 shares during the quarter. Mascoma Wealth Management LLC’s holdings in Deere & Company were worth $81,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Oppenheimer Asset Management Inc. raised its stake in Deere & Company by 20.5% during 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 period. Balentine LLC acquired a new position in Deere & Company in the third quarter valued at $710,000. Royal Fund Management LLC grew its position in Deere & Company by 99.8% during the third quarter. Royal Fund Management LLC now owns 6,454 shares of the industrial products company’s stock valued at $2,694,000 after acquiring an additional 3,223 shares during the period. New Century Financial Group LLC acquired a new position in shares of Deere & Company in the 3rd quarter valued at about $1,052,000. Finally, Manning & Napier Advisors LLC purchased a new position in Deere & Company in the second quarter valued at approximately $24,984,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of DE opened at $402.65 on Tuesday. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. The firm has a market cap of $110.17 billion, a price-to-earnings ratio of 13.74, a PEG ratio of 1.50 and a beta of 0.93. Deere & Company has a 52 week low of $340.20 and a 52 week high of $420.47. The stock has a 50 day moving average of $403.35 and a 200-day moving average of $385.61.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, beating the consensus estimate of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The firm had revenue of $11.39 billion during the quarter, compared to analyst estimates of $10.94 billion. During the same quarter in the previous year, the firm earned $10.20 earnings per share. The firm’s revenue for the quarter was down 20.3% compared to the same quarter last year. As a group, analysts forecast that Deere & Company will post 25 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, September 30th were issued a $1.47 dividend. The ex-dividend date was Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.46%. Deere & Company’s dividend payout ratio is currently 20.06%.

Analyst Ratings Changes

DE has been the topic of a number of research reports. Hsbc Global Res downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Truist Financial boosted their price objective on Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. HSBC lowered Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Deutsche Bank Aktiengesellschaft reduced their price target on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Finally, Bank of America lifted their price objective on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Twelve research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Deere & Company currently has a consensus rating of “Hold” and a consensus price target of $420.69.

Deere & Company Company Profile

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.