Braun Stacey Associates Inc. Sells 2,077 Shares of Deere & Company (NYSE:DE)

Braun Stacey Associates Inc. lowered its stake in shares of Deere & Company (NYSE:DE) by 13.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,574 shares of the industrial products company’s stock after selling 2,077 shares during the period. Braun Stacey Associates Inc.’s holdings in Deere & Company were worth $5,665,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Pineridge Advisors LLC increased its holdings in Deere & Company by 725.0% in the 1st 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 last quarter. Fairscale Capital LLC bought a new stake in shares of Deere & Company in the second quarter worth about $26,000. Livelsberger Financial Advisory bought a new stake in shares of Deere & Company in the third quarter worth about $32,000. Olistico Wealth LLC purchased a new stake in shares of Deere & Company in the second quarter worth about $37,000. Finally, Centennial Bank AR boosted its stake in Deere & Company by 420.0% during the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after buying an additional 84 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Deere & Company stock opened at $398.95 on Monday. 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 stock has a market cap of $109.15 billion, a price-to-earnings ratio of 13.61, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93. The firm has a 50-day moving average of $404.03 and a two-hundred day moving average of $385.64. Deere & Company has a 1 year low of $340.20 and a 1 year high of $420.47.

Deere & Company (NYSE:DE) last announced 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. The company had revenue of $11.39 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $10.20 earnings per share. On average, research analysts forecast that Deere & Company will post 25 earnings per share for the current 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 given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend was Monday, September 30th. Deere & Company’s payout ratio is 20.06%.

Wall Street Analysts Forecast Growth

DE has been the topic of several recent research reports. HSBC cut Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Oppenheimer lowered 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 initiated coverage on shares of Deere & Company in a report on Friday, August 9th. They issued a “market perform” rating and a $400.00 target price on the stock. Bank of America increased their price target on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Finally, Hsbc Global Res cut Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Deere & Company has an average rating of “Hold” and a consensus target price 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.