PDS Planning Inc Sells 252 Shares of Deere & Company (NYSE:DE)

PDS Planning Inc reduced its stake in Deere & Company (NYSE:DE) by 3.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,246 shares of the industrial products company’s stock after selling 252 shares during the quarter. PDS Planning Inc’s holdings in Deere & Company were worth $2,607,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. QRG Capital Management Inc. grew its holdings in shares of Deere & Company by 1.8% in the 3rd quarter. QRG Capital Management Inc. now owns 29,970 shares of the industrial products company’s stock valued at $12,507,000 after acquiring an additional 538 shares in the last quarter. National Pension Service grew its stake in Deere & Company by 10.7% in the third quarter. National Pension Service now owns 492,086 shares of the industrial products company’s stock valued at $205,362,000 after purchasing an additional 47,518 shares in the last quarter. Mosaic Advisors LLC bought a new stake in shares of Deere & Company during the 3rd quarter worth approximately $424,000. Intact Investment Management Inc. boosted its holdings in shares of Deere & Company by 138.2% in the 3rd quarter. Intact Investment Management Inc. now owns 3,120 shares of the industrial products company’s stock valued at $1,302,000 after buying an additional 1,810 shares during the last quarter. Finally, Cortland Associates Inc. MO bought a new position in shares of Deere & Company in the third quarter valued at $253,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of Deere & Company stock traded up $3.16 on Monday, reaching $403.58. 124,505 shares of the stock were exchanged, compared to its average volume of 1,435,204. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. The firm has a market cap of $110.42 billion, a PE ratio of 13.66, a P/E/G ratio of 1.35 and a beta of 0.93. The firm’s 50 day moving average is $400.85 and its 200-day moving average is $385.41. 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 return on equity of 36.71% and a net margin of 14.69%. The firm had revenue of $11.39 billion during the quarter, compared to analysts’ expectations of $10.94 billion. During the same period in the prior year, the company earned $10.20 earnings per share. The company’s quarterly revenue was down 20.3% on a year-over-year basis. As a group, analysts anticipate that Deere & Company will post 25 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently announced 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 20.06%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Oppenheimer lowered their price objective on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Deutsche Bank Aktiengesellschaft cut their price objective on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. Morgan Stanley decreased their price objective on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Citigroup raised their target price on shares of Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Finally, Hsbc Global Res lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently 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.