Cornerstone Advisors LLC Lowers Position in Deere & Company (NYSE:DE)

Cornerstone Advisors LLC lessened its position in Deere & Company (NYSE:DEFree Report) by 9.6% 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 24,400 shares of the industrial products company’s stock after selling 2,600 shares during the period. Cornerstone Advisors LLC’s holdings in Deere & Company were worth $9,208,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Cyrus J. Lawrence LLC lifted its stake in shares of Deere & Company by 1.3% during the third quarter. Cyrus J. Lawrence LLC now owns 16,394 shares of the industrial products company’s stock worth $6,186,000 after purchasing an additional 218 shares in the last quarter. Nichols & Pratt Advisers LLP MA lifted its stake in shares of Deere & Company by 70.6% during the third quarter. Nichols & Pratt Advisers LLP MA now owns 1,450 shares of the industrial products company’s stock worth $547,000 after purchasing an additional 600 shares in the last quarter. Prudent Man Advisors LLC purchased a new stake in shares of Deere & Company during the third quarter worth about $554,000. Hunter Associates Investment Management LLC increased its position in shares of Deere & Company by 4.1% during the third quarter. Hunter Associates Investment Management LLC now owns 1,916 shares of the industrial products company’s stock worth $720,000 after acquiring an additional 76 shares during the last quarter. Finally, Greenleaf Trust increased its position in shares of Deere & Company by 1.6% during the third quarter. Greenleaf Trust now owns 20,523 shares of the industrial products company’s stock worth $7,745,000 after acquiring an additional 319 shares during the last quarter. Institutional investors and hedge funds own 66.27% of the company’s stock.

Deere & Company Trading Up 2.2 %

DE traded up $8.23 during trading on Monday, reaching $389.52. The company had a trading volume of 780,555 shares, compared to its average volume of 1,274,269. The firm’s 50-day simple moving average is $387.08 and its 200 day simple moving average is $390.65. The company has a market cap of $109.17 billion, a price-to-earnings ratio of 11.00, a PEG ratio of 1.11 and a beta of 1.05. Deere & Company has a 12-month low of $345.55 and a 12-month high of $450.00. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.70 and a current ratio of 1.90.

Deere & Company (NYSE:DEGet Free Report) last issued its quarterly earnings results on Wednesday, November 22nd. The industrial products company reported $8.26 earnings per share for the quarter, topping analysts’ consensus estimates of $7.46 by $0.80. The firm had revenue of $13.80 billion for the quarter, compared to analysts’ expectations of $13.64 billion. Deere & Company had a return on equity of 45.91% and a net margin of 16.60%. Deere & Company’s revenue was down 3.8% on a year-over-year basis. During the same quarter last year, the business posted $7.44 EPS. Equities research analysts anticipate that Deere & Company will post 28.46 earnings per share for the current year.

Deere & Company Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 8th. Shareholders of record on Friday, December 29th were paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend was Thursday, December 28th. This is a boost from Deere & Company’s previous quarterly dividend of $1.35. Deere & Company’s payout ratio is 16.96%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. TD Cowen dropped their target price on Deere & Company from $438.00 to $396.00 and set a “market perform” rating on the stock in a research report on Friday, November 24th. JPMorgan Chase & Co. upped their target price on Deere & Company from $380.00 to $385.00 and gave the company a “neutral” rating in a report on Monday, December 4th. Canaccord Genuity Group lowered their target price on Deere & Company from $400.00 to $375.00 and set a “hold” rating for the company in a report on Monday, November 27th. Melius lowered Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Finally, Melius Research reaffirmed a “hold” rating on shares of Deere & Company in a report on Monday, January 8th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $439.69.

Check Out Our Latest Stock Report on Deere & Company

About Deere & Company

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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