Deere & Company (NYSE:DE) Shares Sold by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC reduced its position in shares of Deere & Company (NYSE:DE) by 54.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,594 shares of the industrial products company’s stock after selling 3,135 shares during the period. SeaCrest Wealth Management LLC’s holdings in Deere & Company were worth $1,082,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Fairscale Capital LLC acquired a new position in Deere & Company in the 2nd quarter worth $26,000. Pineridge Advisors LLC grew its position in shares of Deere & Company by 725.0% in the 1st 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. Olistico Wealth LLC bought a new stake in shares of Deere & Company in the 2nd quarter valued at approximately $37,000. Centennial Bank AR increased 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 acquiring an additional 84 shares during the last quarter. Finally, Financial Synergies Wealth Advisors Inc. raised its position in shares of Deere & Company by 2,500.0% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 104 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Trading Up 1.8 %

Shares of NYSE:DE opened at $409.42 on Thursday. The firm has a market cap of $112.82 billion, a P/E ratio of 12.32, a P/E/G ratio of 1.35 and a beta of 0.92. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. Deere & Company has a twelve month low of $340.20 and a twelve month high of $420.47. The company has a 50 day moving average of $390.66 and a 200-day moving average of $385.36.

Deere & Company (NYSE:DE) last announced 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. The business had revenue of $11.39 billion during the quarter, compared to analysts’ expectations of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The company’s quarterly revenue was down 20.3% on a year-over-year basis. During the same quarter last year, the business posted $10.20 earnings per share. As a group, analysts anticipate that Deere & Company will post 25.03 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on DE. Truist Financial boosted their target price on shares of Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Citigroup raised their target price on shares of Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Raymond James initiated coverage on Deere & Company in a report on Friday, June 28th. They set an “outperform” rating and a $420.00 target price for the company. Bank of America raised their price target on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Finally, Evercore ISI increased their target price on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research report on Monday, August 19th. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target 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.