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

Birchcreek Wealth Management LLC reduced its position in shares of Deere & Company (NYSE:DE) by 19.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 484 shares of the industrial products company’s stock after selling 120 shares during the quarter. Birchcreek Wealth Management LLC’s holdings in Deere & Company were worth $202,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in DE. Oppenheimer Asset Management Inc. lifted its holdings in shares of 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 valued at $5,906,000 after purchasing an additional 2,692 shares during the last quarter. Chase Investment Counsel Corp increased its position in shares of Deere & Company by 53.8% during the third quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock valued at $1,669,000 after purchasing an additional 1,400 shares during the period. Balentine LLC acquired a new stake in Deere & Company in the 3rd quarter valued at $710,000. Royal Fund Management LLC raised its position in shares of 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 worth $2,694,000 after acquiring an additional 3,223 shares during the last quarter. Finally, New Century Financial Group LLC bought a new stake in Deere & Company in the third quarter valued at about $1,052,000. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Price Performance

DE traded up $3.73 on Friday, hitting $398.37. 128,655 shares of the company’s stock were exchanged, compared to its average volume of 1,426,304. The firm has a 50-day moving average price of $403.69 and a 200-day moving average price of $385.70. 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 stock has a market cap of $108.99 billion, a price-to-earnings ratio of 13.59, a P/E/G ratio of 1.48 and a beta of 0.93. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $420.47.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.63 by $0.66. The business had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The business’s quarterly revenue was down 20.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $10.20 earnings per share. As a group, equities analysts anticipate that Deere & Company will post 25 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were issued a $1.47 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.88 annualized dividend and a yield of 1.48%. Deere & Company’s dividend payout ratio (DPR) is 20.06%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. BMO Capital Markets initiated coverage on Deere & Company in a research report on Friday, August 9th. They set a “market perform” rating and a $400.00 price objective for the company. Hsbc Global Res lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Evercore ISI boosted their price objective on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a report on Monday, August 19th. JPMorgan Chase & Co. upped their price objective on Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a research note on Friday, October 11th. Finally, Oppenheimer decreased their price target on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Deere & Company presently has an average rating of “Hold” and an average price target of $420.69.

Deere & 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.