Bank of Marin Lowers Stake in Deere & Company (NYSE:DE)

Bank of Marin trimmed its holdings in Deere & Company (NYSE:DE) by 7.5% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 1,235 shares of the industrial products company’s stock after selling 100 shares during the period. Bank of Marin’s holdings in Deere & Company were worth $515,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Fairscale Capital LLC purchased a new stake in shares of Deere & Company in the second quarter valued at about $26,000. Pineridge Advisors LLC boosted its holdings in Deere & Company by 725.0% in the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 58 shares in the last quarter. Livelsberger Financial Advisory acquired a new position in Deere & Company during the 3rd quarter worth approximately $32,000. Olistico Wealth LLC acquired a new position in Deere & Company during the second quarter worth $37,000. Finally, Centennial Bank AR grew its stake in shares of Deere & Company by 420.0% during the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 84 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Trading Up 1.0 %

Shares of Deere & Company stock traded up $3.86 on Friday, reaching $398.50. 132,764 shares of the company were exchanged, compared to its average volume of 1,426,849. The stock has a fifty 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 firm has a market capitalization of $109.03 billion, a price-to-earnings ratio of 13.59, a price-to-earnings-growth 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 announced its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. The firm had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The firm’s revenue was down 20.3% on a year-over-year basis. During the same period in the previous year, the firm posted $10.20 earnings per share. On average, analysts expect that Deere & Company will post 25 EPS for the current year.

Deere & Company Announces Dividend

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

Analyst Ratings Changes

Several brokerages recently issued reports on DE. Deutsche Bank Aktiengesellschaft reduced their price objective on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a report on Thursday, August 8th. Truist Financial upped their price target on shares of Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Morgan Stanley dropped their price target on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. JPMorgan Chase & Co. upped their price objective on shares of 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 Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. 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 a consensus rating of “Hold” and an average target price of $420.69.

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.