Solidarity Wealth LLC Cuts Holdings in Deere & Company (NYSE:DE)

Solidarity Wealth LLC decreased its stake in Deere & Company (NYSE:DE) by 1.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,914 shares of the industrial products company’s stock after selling 100 shares during the period. Solidarity Wealth LLC’s holdings in Deere & Company were worth $2,477,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Tandem Capital Management Corp ADV bought a new stake in Deere & Company in the third quarter valued at $1,288,000. Pinnacle Associates Ltd. lifted its stake in shares of Deere & Company by 2.2% in the 3rd quarter. Pinnacle Associates Ltd. now owns 5,355 shares of the industrial products company’s stock worth $2,141,000 after purchasing an additional 117 shares during the period. First Trust Direct Indexing L.P. boosted its stake in shares of Deere & Company by 16.8% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 7,601 shares of the industrial products company’s stock worth $3,172,000 after acquiring an additional 1,096 shares during the last quarter. Edge Financial Advisors LLC purchased a new position in Deere & Company during the third quarter valued at $377,000. Finally, Pathway Financial Advisers LLC grew its stake in shares of Deere & Company by 53,338.6% during the 3rd quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock valued at $356,602,000 after acquiring an additional 852,885 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Evercore ISI boosted their price target on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a report on Monday, August 19th. Oppenheimer cut their target price on Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. JPMorgan Chase & Co. increased their price objective on shares of Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a research report on Friday, October 11th. Truist Financial lifted 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. Finally, Morgan Stanley lowered their price target on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Deere & Company has a consensus rating of “Hold” and an average price target of $420.69.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $404.69 on Thursday. The firm has a market cap of $111.52 billion, a PE ratio of 12.18, 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 52 week low of $340.20 and a 52 week high of $420.47. The business’s fifty day simple moving average is $399.90 and its 200-day simple moving average is $385.36.

Deere & Company (NYSE:DE) last posted its earnings results 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 company had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. Deere & Company’s revenue for the quarter was down 20.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $10.20 earnings per share. Equities analysts forecast that Deere & Company will post 25.03 earnings per share for the current year.

Deere & Company Dividend Announcement

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

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.