Deere & Company (NYSE:DE) Position Trimmed by Kercheville Advisors LLC

Kercheville Advisors LLC trimmed its stake in Deere & Company (NYSE:DE) by 23.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,000 shares of the industrial products company’s stock after selling 600 shares during the quarter. Kercheville Advisors LLC’s holdings in Deere & Company were worth $835,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Fairscale Capital LLC bought a new stake in shares of Deere & Company in the 2nd quarter valued at approximately $26,000. Pineridge Advisors LLC grew its position in Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 58 shares in the last quarter. Livelsberger Financial Advisory acquired a new position in shares of Deere & Company during the 3rd quarter worth $32,000. Olistico Wealth LLC bought a new position in shares of Deere & Company during the 2nd quarter valued at $37,000. Finally, Centennial Bank AR lifted its stake 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 purchasing an additional 84 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Performance

NYSE:DE opened at $407.93 on Monday. The firm has a market capitalization of $112.41 billion, a PE ratio of 12.28, a price-to-earnings-growth 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 has a 12-month low of $340.20 and a 12-month high of $420.47. The firm has a 50-day moving average price of $397.89 and a 200 day moving average price of $385.17.

Deere & Company (NYSE:DE) last released its quarterly earnings data 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 firm had revenue of $11.39 billion during the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The business’s revenue for the quarter was down 20.3% compared to the same quarter last year. During the same period in the prior year, the company posted $10.20 earnings per share. Research analysts anticipate that Deere & Company will post 25.03 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company 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. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is currently 17.70%.

Analysts Set New Price Targets

DE has been the topic of several analyst reports. Oppenheimer lowered their target price on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Citigroup increased their price objective on Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Truist Financial upped their target price on Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of 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, Hsbc Global Res lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Deere & Company presently has an average rating of “Hold” and a consensus target price 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.