Beacon Financial Advisory LLC Reduces Stake in Deere & Company (NYSE:DE)

Beacon Financial Advisory LLC cut its stake in shares of Deere & Company (NYSE:DE) by 56.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 486 shares of the industrial products company’s stock after selling 638 shares during the period. Beacon Financial Advisory LLC’s holdings in Deere & Company were worth $203,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Csenge Advisory Group boosted its stake in Deere & Company by 1.2% during the first quarter. Csenge Advisory Group now owns 2,617 shares of the industrial products company’s stock worth $1,075,000 after buying an additional 31 shares during the period. Advisory Services Network LLC lifted its holdings in shares of Deere & Company by 3.3% in the 1st quarter. Advisory Services Network LLC now owns 19,273 shares of the industrial products company’s stock worth $7,916,000 after acquiring an additional 608 shares during the last quarter. OLD Second National Bank of Aurora boosted its stake in shares of Deere & Company by 3.0% during the 1st quarter. OLD Second National Bank of Aurora now owns 5,412 shares of the industrial products company’s stock worth $2,223,000 after purchasing an additional 156 shares during the period. Empirical Finance LLC grew its holdings in Deere & Company by 3.3% during the 1st quarter. Empirical Finance LLC now owns 9,974 shares of the industrial products company’s stock valued at $4,097,000 after purchasing an additional 316 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its position in Deere & Company by 37.0% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 11,157 shares of the industrial products company’s stock worth $4,582,000 after purchasing an additional 3,015 shares during the period. 68.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on DE. HSBC lowered Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Deutsche Bank Aktiengesellschaft cut their price objective on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Evercore ISI lifted 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. Bank of America boosted their target price on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Finally, Citigroup lifted their price objective on shares of Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $420.69.

Deere & Company Stock Up 1.3 %

Shares of Deere & Company stock opened at $405.71 on Thursday. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The company has a market cap of $111.00 billion, a P/E ratio of 13.84, a PEG ratio of 1.52 and a beta of 0.93. The firm’s 50 day moving average price is $402.27 and its 200-day moving average price is $385.56. Deere & Company has a 52-week low of $340.20 and a 52-week high of $420.47.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. The business had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The business’s quarterly revenue was down 20.3% on a year-over-year basis. During the same period in the prior year, the firm posted $10.20 earnings per share. On average, sell-side analysts predict that Deere & Company will post 25 EPS for the current fiscal year.

Deere & Company Announces Dividend

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 $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s payout ratio is currently 20.06%.

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.