Deere & Company (NYSE:DE) Shares Sold by Valley Wealth Managers Inc.

Valley Wealth Managers Inc. trimmed its holdings in Deere & Company (NYSE:DE) by 89.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 87 shares of the industrial products company’s stock after selling 773 shares during the period. Valley Wealth Managers Inc.’s holdings in Deere & Company were worth $36,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in DE. Pineridge Advisors LLC raised its holdings 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 worth $27,000 after acquiring an additional 58 shares during the last quarter. Fairscale Capital LLC purchased a new stake in Deere & Company during the 2nd quarter worth about $26,000. Livelsberger Financial Advisory acquired a new position in Deere & Company in the 3rd quarter valued at about $32,000. Olistico Wealth LLC purchased a new position in Deere & Company in the 2nd quarter valued at about $37,000. Finally, Centennial Bank AR lifted its holdings in Deere & Company by 420.0% in the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 84 shares in the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

NYSE:DE opened at $398.95 on Friday. The firm’s fifty day simple moving average is $404.03 and its 200 day simple moving average is $385.69. 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 twelve month low of $340.20 and a twelve month high of $420.47. The firm has a market capitalization of $109.15 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 1.48 and a beta of 0.93.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, beating 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 company had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. During the same period last year, the company posted $10.20 earnings per share. The firm’s revenue was down 20.3% compared to the same quarter last year. As a group, equities research analysts expect that Deere & Company will post 25 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, September 30th were issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend was Monday, September 30th. Deere & Company’s dividend payout ratio is presently 20.06%.

Analysts Set New Price Targets

DE has been the subject of a number of analyst reports. HSBC lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Deutsche Bank Aktiengesellschaft reduced their price target on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Hsbc Global Res downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Citigroup raised their price target on Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Finally, Oppenheimer dropped 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 note on Monday, July 22nd. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus 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.