Foster & Motley Inc. Reduces Position in Deere & Company (NYSE:DE)

Foster & Motley Inc. lessened its holdings in shares of Deere & Company (NYSE:DE) by 21.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,946 shares of the industrial products company’s stock after selling 801 shares during the period. Foster & Motley Inc.’s holdings in Deere & Company were worth $1,229,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Radnor Capital Management LLC purchased a new position in shares of Deere & Company during the third quarter valued at approximately $243,000. Catalina Capital Group LLC boosted its position in shares of Deere & Company by 3.7% during the third quarter. Catalina Capital Group LLC now owns 1,047 shares of the industrial products company’s stock valued at $437,000 after buying an additional 37 shares during the period. Balentine LLC purchased a new stake in shares of Deere & Company in the third quarter valued at approximately $710,000. Hixon Zuercher LLC boosted its holdings in shares of Deere & Company by 1.1% in the third quarter. Hixon Zuercher LLC now owns 4,870 shares of the industrial products company’s stock valued at $2,032,000 after purchasing an additional 55 shares during the period. Finally, Crestwood Advisors Group LLC boosted its holdings in shares of Deere & Company by 3.3% in the third quarter. Crestwood Advisors Group LLC now owns 2,761 shares of the industrial products company’s stock valued at $1,152,000 after purchasing an additional 89 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of DE stock opened at $405.71 on Thursday. The business’s fifty day simple moving average is $402.27 and its 200-day simple moving average is $385.56. The company has a market cap of $111.00 billion, a PE ratio of 13.84, a PEG ratio of 1.52 and a beta of 0.93. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. Deere & Company has a 12-month low of $340.20 and a 12-month 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 (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $10.94 billion. During the same period in the prior year, the firm earned $10.20 EPS. The firm’s revenue was down 20.3% on a year-over-year basis. Analysts expect that Deere & Company will post 25 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be given a $1.47 dividend. 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 payout ratio is 20.06%.

Analysts Set New Price Targets

A number of analysts recently issued reports on DE shares. Bank of America boosted their price target on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Evercore ISI boosted their price target on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a report on Monday, August 19th. HSBC lowered Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Deutsche Bank Aktiengesellschaft lowered their price target on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a report on Thursday, August 8th. Finally, Hsbc Global Res lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a report 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. According to data from MarketBeat.com, the company has an average 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.