United Capital Financial Advisers LLC Cuts Stock Holdings in Deere & Company (NYSE:DE)

United Capital Financial Advisers LLC decreased its holdings in shares of Deere & Company (NYSE:DEGet Rating) by 1.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,593 shares of the industrial products company’s stock after selling 720 shares during the quarter. United Capital Financial Advisers LLC’s holdings in Deere & Company were worth $29,744,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Nauset Wealth Management. LLC purchased a new position in shares of Deere & Company during the first quarter worth about $29,000. Bank of New Hampshire purchased a new stake in Deere & Company in the first quarter worth approximately $30,000. Worth Asset Management LLC purchased a new stake in Deere & Company in the first quarter worth approximately $28,000. Bell Investment Advisors Inc boosted its stake in Deere & Company by 120.0% in the fourth quarter. Bell Investment Advisors Inc now owns 88 shares of the industrial products company’s stock worth $30,000 after buying an additional 48 shares in the last quarter. Finally, Mine & Arao Wealth Creation & Management LLC. boosted its stake in Deere & Company by 614.3% in the first quarter. Mine & Arao Wealth Creation & Management LLC. now owns 100 shares of the industrial products company’s stock worth $42,000 after buying an additional 86 shares in the last quarter. Hedge funds and other institutional investors own 75.34% of the company’s stock.

Deere & Company Price Performance

DE opened at $372.25 on Friday. The stock has a fifty day simple moving average of $340.74 and a two-hundred day simple moving average of $363.23. The company has a current ratio of 1.97, a quick ratio of 1.68 and a debt-to-equity ratio of 1.69. The company has a market cap of $112.35 billion, a price-to-earnings ratio of 18.60, a price-to-earnings-growth ratio of 1.29 and a beta of 1.06. Deere & Company has a 12-month low of $283.81 and a 12-month high of $446.76.

Deere & Company (NYSE:DEGet Rating) last posted its quarterly earnings data on Friday, August 19th. The industrial products company reported $6.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.61 by ($0.45). The firm had revenue of $13 billion during the quarter, compared to the consensus estimate of $12.84 billion. Deere & Company had a return on equity of 33.26% and a net margin of 12.75%. Deere & Company’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same quarter last year, the company posted $5.32 EPS. Research analysts predict that Deere & Company will post 22.94 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 8th. Shareholders of record on Friday, September 30th will be issued a $1.13 dividend. The ex-dividend date is Thursday, September 29th. This represents a $4.52 dividend on an annualized basis and a yield of 1.21%. Deere & Company’s dividend payout ratio (DPR) is 22.59%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Barclays cut their target price on Deere & Company from $415.00 to $400.00 and set an “overweight” rating for the company in a research note on Monday, May 23rd. Cowen dropped their price objective on Deere & Company from $396.00 to $342.00 in a research note on Thursday, July 7th. DA Davidson dropped their price objective on Deere & Company from $480.00 to $445.00 and set a “buy” rating for the company in a research note on Monday, May 23rd. Deutsche Bank Aktiengesellschaft dropped their price objective on Deere & Company from $388.00 to $386.00 in a research note on Monday, August 22nd. Finally, JPMorgan Chase & Co. dropped their price objective on Deere & Company from $370.00 to $325.00 and set a “neutral” rating for the company in a research note on Tuesday, July 12th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Deere & Company presently has a consensus rating of “Moderate Buy” and a consensus target price of $407.68.

Deere & Company Company Profile

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Deere & Company manufactures and distributes 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 mid-size tractors, combines, cotton pickers and strippers, sugarcane harvesters, harvesting front-end equipment, sugarcane loaders, 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.

See Also

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Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

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