Deere & Company (NYSE:DE) Shares Sold by Marietta Wealth Management LLC

Marietta Wealth Management LLC lowered its position in shares of Deere & Company (NYSE:DE) by 4.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,840 shares of the industrial products company’s stock after selling 635 shares during the period. Marietta Wealth Management LLC’s holdings in Deere & Company were worth $5,776,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Mattern Wealth Management LLC increased its position in shares of 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 purchasing an additional 25 shares in the last quarter. Centaurus Financial Inc. increased its position in Deere & Company by 2.3% during the second quarter. Centaurus Financial Inc. now owns 1,160 shares of the industrial products company’s stock worth $433,000 after buying an additional 26 shares during the period. Cornell Pochily Investment Advisors Inc. lifted its stake in Deere & Company by 0.7% in the third quarter. Cornell Pochily Investment Advisors Inc. now owns 3,495 shares of the industrial products company’s stock valued at $1,459,000 after buying an additional 26 shares during the last quarter. Cornerstone Wealth Management LLC boosted its holdings in shares of Deere & Company by 0.9% in the third quarter. Cornerstone Wealth Management LLC now owns 3,098 shares of the industrial products company’s stock valued at $1,293,000 after acquiring an additional 27 shares during the period. Finally, First Foundation Advisors grew its position in shares of Deere & Company by 2.3% during the first quarter. First Foundation Advisors now owns 1,249 shares of the industrial products company’s stock worth $513,000 after acquiring an additional 28 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on DE shares. Citigroup lifted their price objective on shares of Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Oppenheimer reduced their price objective on Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Truist Financial increased their price objective on Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft dropped their target price on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. Finally, Morgan Stanley decreased their price target on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Twelve research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Deere & Company has an average rating of “Hold” and a consensus price target of $420.69.

Deere & Company Stock Down 0.1 %

DE stock opened at $406.65 on Wednesday. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. The company’s 50-day moving average price is $395.40 and its 200 day moving average price is $385.21. Deere & Company has a 52 week low of $340.20 and a 52 week high of $420.47. The company has a market cap of $112.06 billion, a P/E ratio of 12.24, a P/E/G ratio of 1.35 and a beta of 0.92.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping 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 business had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. During the same quarter in the previous year, the company earned $10.20 EPS. The company’s quarterly revenue was down 20.3% on a year-over-year basis. On average, 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 declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders 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 dividend yield of 1.45%. The ex-dividend date is Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

About Deere & Company

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.