Deere & Company $DE Shares Sold by Mission Wealth Management LP

Mission Wealth Management LP lessened its stake in shares of Deere & Company (NYSE:DE) by 4.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,967 shares of the industrial products company’s stock after selling 239 shares during the quarter. Mission Wealth Management LP’s holdings in Deere & Company were worth $2,525,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Mid American Wealth Advisory Group Inc. acquired a new stake in shares of Deere & Company during the second quarter valued at $25,000. Activest Wealth Management raised its stake in Deere & Company by 2,750.0% in the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 55 shares during the last quarter. Hughes Financial Services LLC purchased a new position in Deere & Company in the 1st quarter valued at about $29,000. Cornerstone Planning Group LLC boosted its stake in shares of Deere & Company by 116.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 36 shares during the last quarter. Finally, Marshall & Sullivan Inc. WA acquired a new stake in shares of Deere & Company during the 2nd quarter worth about $38,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on DE. Robert W. Baird reduced their price objective on shares of Deere & Company from $488.00 to $467.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. Oppenheimer cut their price target on Deere & Company from $566.00 to $512.00 and set an “outperform” rating for the company in a report on Thursday, September 18th. Royal Bank Of Canada assumed coverage on Deere & Company in a report on Wednesday, October 22nd. They set an “outperform” rating and a $542.00 price objective on the stock. Zacks Research downgraded Deere & Company from a “hold” rating to a “strong sell” rating in a research report on Monday, October 20th. Finally, DA Davidson dropped their target price on Deere & Company from $595.00 to $580.00 and set a “buy” rating for the company in a research note on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $518.72.

Deere & Company Stock Down 0.9%

Shares of DE opened at $461.41 on Monday. Deere & Company has a fifty-two week low of $387.03 and a fifty-two week high of $533.78. The company’s fifty day moving average is $467.74 and its two-hundred day moving average is $489.95. The firm has a market cap of $124.73 billion, a PE ratio of 24.12, a price-to-earnings-growth ratio of 3.05 and a beta of 1.02. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, topping the consensus estimate of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The business had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.33 billion. During the same period last year, the company posted $6.29 EPS. The business’s quarterly revenue was down 9.0% on a year-over-year basis. Analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Deere & Company’s payout ratio is currently 33.87%.

Deere & Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.