Bridges Investment Management Inc. Decreases Stock Holdings in Deere & Company (NYSE:DE)

Bridges Investment Management Inc. decreased its holdings in shares of Deere & Company (NYSE:DE) by 1.7% during the third quarter, Holdings Channel.com reports. The firm owned 8,336 shares of the industrial products company’s stock after selling 141 shares during the period. Bridges Investment Management Inc.’s holdings in Deere & Company were worth $3,479,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Pineridge Advisors LLC raised its stake in shares of Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 58 shares during the period. Fairscale Capital LLC purchased a new stake in shares of Deere & Company in the second quarter valued at $26,000. Livelsberger Financial Advisory purchased a new stake in shares of Deere & Company in the third quarter valued at $32,000. Olistico Wealth LLC purchased a new stake in shares of Deere & Company in the second quarter valued at $37,000. Finally, Centennial Bank AR raised its stake in shares of Deere & Company by 420.0% in the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 84 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on DE. Bank of America increased 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. Truist Financial upped their price target on shares of Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Citigroup upped their price target on shares of Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Evercore ISI upped their price target on shares of Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a report on Monday, August 19th. Finally, BMO Capital Markets initiated coverage on shares of Deere & Company in a report on Friday, August 9th. They issued a “market perform” rating and a $400.00 price target on the stock. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $420.69.

Deere & Company Stock Down 4.2 %

Shares of Deere & Company stock opened at $393.99 on Friday. 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 has a 1 year low of $340.20 and a 1 year high of $420.47. The firm’s 50-day moving average is $403.02 and its two-hundred day moving average is $385.69. The stock has a market cap of $107.80 billion, a price-to-earnings ratio of 13.44, a PEG ratio of 1.52 and a beta of 0.93.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The business had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. During the same period 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 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend was Monday, September 30th. Deere & Company’s dividend 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.