Verus Capital Partners LLC Has $841,000 Holdings in Deere & Company (NYSE:DE)

Verus Capital Partners LLC decreased its position in Deere & Company (NYSE:DE) by 10.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,015 shares of the industrial products company’s stock after selling 223 shares during the quarter. Verus Capital Partners LLC’s holdings in Deere & Company were worth $841,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of DE. Fairscale Capital LLC acquired a new stake in shares of Deere & Company in the second quarter valued at about $26,000. Pineridge Advisors LLC increased its position in shares of Deere & Company by 725.0% during the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 58 shares during the last quarter. Livelsberger Financial Advisory acquired a new position in shares of Deere & Company during the 3rd quarter worth approximately $32,000. Olistico Wealth LLC bought a new stake in shares of Deere & Company during the 2nd quarter worth approximately $37,000. Finally, Centennial Bank AR boosted its holdings in shares of Deere & Company by 420.0% in the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after buying an additional 84 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

DE has been the subject of a number of recent analyst reports. Bank of America increased their price target 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. BMO Capital Markets began coverage on Deere & Company in a report on Friday, August 9th. They set a “market perform” rating and a $400.00 price target for the company. Oppenheimer lowered their price target on Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Truist Financial raised their price objective on Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Morgan Stanley decreased their target price on Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $420.69.

Deere & Company Stock Down 2.2 %

NYSE DE opened at $393.83 on Wednesday. The business has a fifty day moving average price of $403.35 and a two-hundred day moving average price of $385.61. The stock has a market capitalization of $107.75 billion, a PE ratio of 13.44, a PEG ratio of 1.50 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. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. The firm had revenue of $11.39 billion during 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 revenue for the quarter was down 20.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $10.20 earnings per share. Equities analysts expect that Deere & Company will post 25 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, September 30th were paid a dividend of $1.47 per share. The ex-dividend date was Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.49%. Deere & Company’s payout ratio is presently 20.06%.

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.