Pacific Sage Partners LLC Reduces Holdings in Deere & Company (NYSE:DE)

Pacific Sage Partners LLC decreased its position in shares of Deere & Company (NYSE:DE) by 8.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 4,194 shares of the industrial products company’s stock after selling 385 shares during the quarter. Deere & Company makes up approximately 0.4% of Pacific Sage Partners LLC’s portfolio, making the stock its 29th largest holding. Pacific Sage Partners LLC’s holdings in Deere & Company were worth $1,750,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Norden Group LLC purchased a new position in shares of Deere & Company during the first quarter worth about $1,070,000. Kovack Advisors Inc. grew its holdings in shares of Deere & Company by 46.0% during the first quarter. Kovack Advisors Inc. now owns 1,010 shares of the industrial products company’s stock worth $415,000 after buying an additional 318 shares during the last quarter. Consolidated Portfolio Review Corp purchased a new position in shares of Deere & Company during the first quarter worth about $235,000. Diversify Advisory Services LLC purchased a new position in shares of Deere & Company during the first quarter worth about $1,782,000. Finally, Mission Wealth Management LP grew its holdings in shares of Deere & Company by 14.2% during the first quarter. Mission Wealth Management LP now owns 3,605 shares of the industrial products company’s stock worth $1,481,000 after buying an additional 447 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

DE stock opened at $404.86 on Friday. 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 company has a market cap of $110.77 billion, a price-to-earnings ratio of 13.81, a PEG ratio of 1.35 and a beta of 0.92. The firm has a 50 day moving average of $400.47 and a 200-day moving average of $385.50.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $10.94 billion. During the same period in the previous year, the firm posted $10.20 EPS. The company’s quarterly revenue was down 20.3% compared to the same quarter last year. As a group, equities analysts expect that Deere & Company will post 25 EPS 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. 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 1.45%. Deere & Company’s dividend payout ratio is currently 20.06%.

Analyst Ratings Changes

A number of research firms recently issued reports on DE. HSBC lowered Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Oppenheimer reduced their price objective on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. BMO Capital Markets began coverage on shares of Deere & Company in a research report on Friday, August 9th. They issued a “market perform” rating and a $400.00 price objective for the company. Evercore ISI raised their price objective on shares of Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research report on Monday, August 19th. Finally, Hsbc Global Res downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” 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 stock. According to data from MarketBeat.com, Deere & Company has an average rating of “Hold” and an average 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.