Constitution Capital LLC Reduces Holdings in Deere & Company (NYSE:DE)

Constitution Capital LLC lessened its position in Deere & Company (NYSE:DE) by 24.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,225 shares of the industrial products company’s stock after selling 400 shares during the period. Constitution Capital LLC’s holdings in Deere & Company were worth $511,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Fairscale Capital LLC acquired a new stake in Deere & Company in the 2nd quarter worth about $26,000. Pineridge Advisors LLC boosted its position 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. Livelsberger Financial Advisory purchased a new stake in Deere & Company in the fourth quarter valued at approximately $30,000. Spartan Planning & Wealth Management acquired a new position in Deere & Company during the fourth quarter worth approximately $33,000. Finally, Olistico Wealth LLC purchased a new position in Deere & Company during the second quarter worth approximately $37,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on DE. Raymond James started coverage on shares of Deere & Company in a research note on Friday, June 28th. They set an “outperform” rating and a $420.00 price objective for the company. HSBC downgraded Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Hsbc Global Res downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. JPMorgan Chase & Co. boosted their target price on Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Bank of America raised 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. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $420.69.

Deere & Company Stock Down 1.9 %

Shares of NYSE:DE traded down $7.86 during midday trading on Monday, reaching $403.22. The company had a trading volume of 252,889 shares, compared to its average volume of 1,476,366. The stock has a market capitalization of $111.12 billion, a P/E ratio of 12.36, a PEG ratio of 1.35 and a beta of 0.92. The stock’s fifty day moving average price is $387.01 and its 200-day moving average price is $385.27. 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 one year low of $340.20 and a one year high of $420.47.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share 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 company had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. During the same quarter in the previous year, the firm earned $10.20 EPS. The company’s revenue was down 20.3% on a year-over-year basis. Equities research analysts expect that Deere & Company will post 25.03 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 1.46%. The ex-dividend date is Monday, September 30th. Deere & Company’s payout ratio is currently 17.70%.

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.