Deere & Company (NYSE:DE) Shares Sold by Lyell Wealth Management LP

Lyell Wealth Management LP cut its position in shares of Deere & Company (NYSE:DE) by 3.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,408 shares of the industrial products company’s stock after selling 494 shares during the quarter. Lyell Wealth Management LP’s holdings in Deere & Company were worth $6,013,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DE. Oppenheimer Asset Management Inc. lifted its holdings in shares of Deere & Company by 20.5% in 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 in the last quarter. Aviance Capital Partners LLC acquired a new stake in Deere & Company during the 1st quarter valued at $2,783,000. Royal Fund Management LLC grew its holdings in Deere & Company by 99.8% during the 3rd quarter. Royal Fund Management LLC now owns 6,454 shares of the industrial products company’s stock valued at $2,694,000 after buying an additional 3,223 shares during the last quarter. New Century Financial Group LLC purchased a new position in Deere & Company during the third quarter worth $1,052,000. Finally, Manning & Napier Advisors LLC acquired a new position in shares of Deere & Company in the second quarter worth $24,984,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on DE shares. Truist Financial lifted their price objective on Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Evercore ISI boosted their price objective on shares of Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research report on Monday, August 19th. HSBC downgraded shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. JPMorgan Chase & Co. lifted their target price on shares of Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a research note on Friday, October 11th. Finally, Morgan Stanley reduced their price target on Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Deere & Company has an average rating of “Hold” and a consensus target price of $420.69.

Deere & Company Price Performance

DE opened at $407.93 on Friday. Deere & Company has a 52-week low of $340.20 and a 52-week high of $420.47. The company has a 50 day moving average of $397.30 and a two-hundred day moving average of $385.56. The company has a market cap of $112.41 billion, a P/E ratio of 12.28, a P/E/G ratio of 1.35 and a beta of 0.92. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85.

Deere & Company (NYSE:DE) last posted 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 business had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. During the same quarter in the previous year, the business posted $10.20 EPS. The business’s quarterly revenue was down 20.3% on a year-over-year basis. On average, analysts expect that Deere & Company will post 25.03 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be paid a $1.47 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.44%. Deere & Company’s dividend payout ratio (DPR) is currently 17.70%.

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.