Dearborn Partners LLC Sells 128 Shares of Deere & Company (NYSE:DE)

Dearborn Partners LLC lowered its holdings in shares of Deere & Company (NYSE:DE) by 2.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 5,962 shares of the industrial products company’s stock after selling 128 shares during the period. Dearborn Partners LLC’s holdings in Deere & Company were worth $2,488,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Hsbc Global Res lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Evercore ISI increased 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. Truist Financial boosted their price target on shares of Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Morgan Stanley dropped their target price on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Finally, Citigroup lifted their price objective on Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $420.69.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $394.68 on Friday. The firm has a market cap of $107.98 billion, a PE ratio of 13.47, a price-to-earnings-growth ratio of 1.48 and a beta of 0.93. Deere & Company has a 1 year low of $340.20 and a 1 year high of $420.47. The firm’s 50-day simple moving average is $403.47 and its 200-day simple moving average is $385.64. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS 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 during the quarter, compared to the consensus estimate of $10.94 billion. During the same quarter in the prior year, the firm earned $10.20 EPS. The firm’s quarterly revenue was down 20.3% on a year-over-year basis. Equities analysts forecast that Deere & Company will post 25 earnings per share for the current fiscal 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 1.49%. Deere & Company’s dividend payout ratio (DPR) 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.