Keynote Financial Services LLC Has $222,000 Stake in Deere & Company (NYSE:DE)

Keynote Financial Services LLC reduced its stake in shares of Deere & Company (NYSE:DE) by 8.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 533 shares of the industrial products company’s stock after selling 50 shares during the quarter. Keynote Financial Services LLC’s holdings in Deere & Company were worth $222,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Mattern Wealth Management LLC grew its stake in Deere & Company by 1.3% during the third quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock worth $786,000 after buying an additional 25 shares in the last quarter. Carret Asset Management LLC increased its stake in shares of Deere & Company by 0.3% in the 3rd quarter. Carret Asset Management LLC now owns 8,148 shares of the industrial products company’s stock valued at $3,401,000 after purchasing an additional 25 shares during the last quarter. Centaurus Financial Inc. increased its stake in shares of Deere & Company by 2.3% in the 2nd quarter. Centaurus Financial Inc. now owns 1,160 shares of the industrial products company’s stock valued at $433,000 after purchasing an additional 26 shares during the last quarter. Cornell Pochily Investment Advisors Inc. lifted its position in shares of Deere & Company by 0.7% during the 3rd quarter. Cornell Pochily Investment Advisors Inc. now owns 3,495 shares of the industrial products company’s stock worth $1,459,000 after buying an additional 26 shares during the last quarter. Finally, Legacy Wealth Asset Management LLC boosted its stake in Deere & Company by 1.9% in the third quarter. Legacy Wealth Asset Management LLC now owns 1,385 shares of the industrial products company’s stock valued at $578,000 after buying an additional 26 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Price Performance

Deere & Company stock opened at $411.16 on Friday. The stock’s 50 day moving average is $402.27 and its 200 day moving average is $385.56. Deere & Company has a one year low of $340.20 and a one year high of $420.47. The firm has a market cap of $112.49 billion, a P/E ratio of 14.03, a P/E/G ratio of 1.52 and a beta of 0.93. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87.

Deere & Company (NYSE:DE) last released its quarterly earnings results 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 net margin of 14.69% and a return on equity of 36.71%. The firm had revenue of $11.39 billion during the quarter, compared to analyst estimates of $10.94 billion. During the same quarter last year, the business earned $10.20 EPS. The company’s revenue was down 20.3% compared to the same quarter last year. As a group, research analysts expect that Deere & Company will post 25 EPS for the current year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders 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 yield of 1.43%. Deere & Company’s dividend payout ratio (DPR) is currently 20.06%.

Analyst Upgrades and Downgrades

Several brokerages have commented on DE. Hsbc Global Res downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. JPMorgan Chase & Co. raised their target price on shares of Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a research report on Friday, October 11th. Morgan Stanley lowered their price target on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Finally, Truist Financial increased their price target on Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a research note 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. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $420.69.

Deere & 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.