Sweet Financial Partners LLC Decreases Stock Holdings in Deere & Company (NYSE:DE)

Sweet Financial Partners LLC reduced its position in shares of Deere & Company (NYSE:DE) by 28.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,232 shares of the industrial products company’s stock after selling 885 shares during the period. Sweet Financial Partners LLC’s holdings in Deere & Company were worth $931,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Pineridge Advisors LLC lifted 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 worth $27,000 after buying an additional 58 shares during the period. Fairscale Capital LLC purchased a new stake in Deere & Company in the second quarter worth $26,000. Olistico Wealth LLC purchased a new stake in Deere & Company in the second quarter worth $37,000. Financial Synergies Wealth Advisors Inc. boosted its holdings in Deere & Company by 2,500.0% in the first 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. Finally, Centennial Bank AR increased its position in Deere & Company by 420.0% during 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 period. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

DE stock opened at $405.27 on Friday. The stock’s 50 day simple moving average is $391.78 and its 200 day simple moving average is $385.50. 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 12-month low of $340.20 and a 12-month high of $420.47. The stock has a market capitalization of $111.68 billion, a PE ratio of 12.20, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The firm had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. During the same period in the prior year, the company posted $10.20 earnings per share. The company’s quarterly revenue was down 20.3% on a year-over-year basis. As a group, research analysts forecast that Deere & Company will post 25.03 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s payout ratio is presently 17.70%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. BMO Capital Markets began coverage on shares of Deere & Company in a research note on Friday, August 9th. They set a “market perform” rating and a $400.00 target price on the stock. JPMorgan Chase & Co. increased their target price on Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a research report on Friday, October 11th. Citigroup raised their target price on Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Bank of America upped their price target on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. Finally, Evercore ISI raised their price objective on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research report on Monday, August 19th. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Deere & Company presently has an average rating of “Hold” and a consensus price target of $420.69.

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.