Deere & Company (NYSE:DE) Stock Position Lessened by Concorde Asset Management LLC

Concorde Asset Management LLC decreased its holdings in Deere & Company (NYSE:DE) by 6.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 565 shares of the industrial products company’s stock after selling 40 shares during the quarter. Concorde Asset Management LLC’s holdings in Deere & Company were worth $236,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Mattern Wealth Management LLC grew its stake in shares of Deere & Company by 1.3% in 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. Carret Asset Management LLC lifted its holdings in shares of Deere & Company by 0.3% in the third quarter. Carret Asset Management LLC now owns 8,148 shares of the industrial products company’s stock valued at $3,401,000 after buying an additional 25 shares during the period. Round Rock Advisors LLC lifted its holdings in shares of Deere & Company by 2.0% in the third quarter. Round Rock Advisors LLC now owns 1,252 shares of the industrial products company’s stock valued at $522,000 after buying an additional 25 shares during the period. Centaurus Financial Inc. lifted its holdings in shares of Deere & Company by 2.3% in the second quarter. Centaurus Financial Inc. now owns 1,160 shares of the industrial products company’s stock valued at $433,000 after buying an additional 26 shares during the period. Finally, Cornell Pochily Investment Advisors Inc. lifted its holdings in shares of 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 period. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of NYSE DE opened at $436.28 on Friday. The company has a market cap of $119.37 billion, a P/E ratio of 14.89, a P/E/G ratio of 1.54 and a beta of 0.93. The company has a quick ratio of 1.87, a current ratio of 2.07 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 $442.05. The business’s 50 day moving average is $405.95 and its two-hundred day moving average is $386.18.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.90 by $0.65. The business had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.20 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. Deere & Company’s quarterly revenue was down 32.8% on a year-over-year basis. During the same period in the previous year, the business posted $8.26 earnings per share. On average, equities analysts expect that Deere & Company will post 25 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were paid a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 1.35%. The ex-dividend date was Monday, September 30th. Deere & Company’s dividend payout ratio is 20.06%.

Wall Street Analysts Forecast Growth

DE has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their price objective on Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a report on Friday, October 11th. BMO Capital Markets assumed coverage on Deere & Company in a report on Friday, August 9th. They set a “market perform” rating and a $400.00 target price for the company. Truist Financial upped their target price on Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft reduced their target price 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 lowered Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $420.69.

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.