Deere & Company (NYSE:DE) Shares Sold by Legacy Financial Strategies LLC

Legacy Financial Strategies LLC decreased its position in Deere & Company (NYSE:DE) by 6.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 542 shares of the industrial products company’s stock after selling 35 shares during the quarter. Legacy Financial Strategies LLC’s holdings in Deere & Company were worth $226,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Swedbank AB purchased a new stake in shares of Deere & Company during the first quarter valued at $191,628,000. Mawer Investment Management Ltd. acquired a new position in Deere & Company during the second quarter valued at $166,937,000. Dimensional Fund Advisors LP raised its position in Deere & Company by 15.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock valued at $802,037,000 after buying an additional 279,627 shares during the period. Vanguard Group Inc. raised its position in Deere & Company by 1.2% during the first quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock valued at $9,031,500,000 after buying an additional 263,709 shares during the period. Finally, Strategic Financial Concepts LLC increased its position in Deere & Company by 28,306.5% in the 2nd quarter. Strategic Financial Concepts LLC now owns 249,977 shares of the industrial products company’s stock worth $934,000 after purchasing an additional 249,097 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of Deere & Company stock traded up $3.59 during midday trading on Friday, hitting $408.73. 749,969 shares of the company were exchanged, compared to its average volume of 1,470,607. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87. The firm has a market cap of $112.63 billion, a P/E ratio of 12.30, a PEG ratio of 1.35 and a beta of 0.92. Deere & Company has a 52 week low of $340.20 and a 52 week high of $420.47. The firm has a 50 day simple moving average of $393.03 and a 200-day simple moving average of $385.53.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping the consensus estimate of $5.63 by $0.66. The business had revenue of $11.39 billion during 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%. Deere & Company’s revenue was down 20.3% on a year-over-year basis. During the same quarter last year, the company earned $10.20 EPS. Research analysts forecast that Deere & Company will post 25.03 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently announced 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 annualized dividend and a dividend yield of 1.44%. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Hsbc Global Res lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Evercore ISI upped 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. Raymond James assumed coverage on Deere & Company in a research report on Friday, June 28th. They issued an “outperform” rating and a $420.00 target price on the stock. Truist Financial upped 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, Citigroup increased their price objective on Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Deere & Company has an average rating of “Hold” and a consensus 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.