LPL Financial LLC Sells 31,402 Shares of Deere & Company (NYSE:DE)

LPL Financial LLC reduced its stake in shares of Deere & Company (NYSE:DE) by 8.0% during the third quarter, Holdings Channel reports. The firm owned 359,988 shares of the industrial products company’s stock after selling 31,402 shares during the quarter. LPL Financial LLC’s holdings in Deere & Company were worth $150,234,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of DE. Oppenheimer Asset Management Inc. raised its holdings in Deere & Company by 20.5% in the second 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 in the last quarter. Chase Investment Counsel Corp grew its position in shares of Deere & Company by 53.8% in the 3rd quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock worth $1,669,000 after buying an additional 1,400 shares during the period. Balentine LLC bought a new position in shares of Deere & Company in the 3rd quarter worth about $710,000. Royal Fund Management LLC lifted its position in Deere & Company by 99.8% during the 3rd 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 during the period. Finally, New Century Financial Group LLC bought a new stake in Deere & Company during the third quarter worth about $1,052,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

Shares of NYSE DE opened at $446.65 on Friday. The stock has a market cap of $122.20 billion, a PE ratio of 15.24, a price-to-earnings-growth ratio of 1.54 and a beta of 0.93. Deere & Company has a 1 year low of $340.20 and a 1 year high of $447.50. The firm has a fifty day moving average price of $406.99 and a 200-day moving average price of $386.49. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.90 by $0.65. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The business had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.20 billion. During the same quarter in the prior year, the business posted $8.26 EPS. Deere & Company’s revenue for the quarter was down 32.8% compared to the same quarter last year. Equities analysts anticipate that Deere & Company will post 25 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were issued a $1.47 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.32%. Deere & Company’s dividend payout ratio is presently 20.06%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on DE. UBS Group lifted their target price on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a report on Friday. Truist Financial lifted their price objective on Deere & Company from $496.00 to $538.00 and gave the company a “buy” rating in a research note on Friday. Citigroup increased their target price on Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Barclays upped their target price on shares of Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Thirteen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $431.61.

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.