Aviance Capital Partners LLC Trims Stock Holdings in Deere & Company (NYSE:DE)

Aviance Capital Partners LLC lessened its position in shares of Deere & Company (NYSE:DE) by 9.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,902 shares of the industrial products company’s stock after selling 628 shares during the quarter. Aviance Capital Partners LLC’s holdings in Deere & Company were worth $2,463,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of DE. Oppenheimer Asset Management Inc. grew its position in Deere & Company by 20.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock worth $5,906,000 after purchasing an additional 2,692 shares during the period. Chase Investment Counsel Corp grew its holdings in Deere & Company by 53.8% during the third quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock worth $1,669,000 after acquiring an additional 1,400 shares during the period. Balentine LLC acquired a new stake in Deere & Company during the third quarter worth about $710,000. Royal Fund Management LLC raised its position in Deere & Company by 99.8% during the third quarter. Royal Fund Management LLC now owns 6,454 shares of the industrial products company’s stock valued at $2,694,000 after acquiring an additional 3,223 shares in the last quarter. Finally, New Century Financial Group LLC acquired a new position in Deere & Company in the third quarter valued at approximately $1,052,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Price Performance

DE stock opened at $404.63 on Tuesday. Deere & Company has a 1 year low of $340.20 and a 1 year high of $420.47. The firm has a market capitalization of $110.71 billion, a PE ratio of 13.81, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87. The business has a 50 day simple moving average of $404.38 and a 200-day simple moving average of $385.70.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, September 30th were paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date was Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is presently 20.06%.

Analysts Set New Price Targets

Several research firms have recently weighed in on DE. Truist Financial lifted their target price on shares of Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Citigroup upped their price objective on shares of Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Oppenheimer dropped their target price on Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Hsbc Global Res cut Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Finally, BMO Capital Markets began coverage on Deere & Company in a report on Friday, August 9th. They issued a “market perform” rating and a $400.00 price objective on the stock. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Deere & 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.