Osborne Partners Capital Management LLC Sells 40 Shares of Deere & Company (NYSE:DE)

Osborne Partners Capital Management LLC lowered its stake in shares of Deere & Company (NYSE:DE) by 1.3% during the 3rd quarter, Holdings Channel.com reports. The fund owned 3,050 shares of the industrial products company’s stock after selling 40 shares during the quarter. Osborne Partners Capital Management LLC’s holdings in Deere & Company were worth $1,273,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Burford Brothers Inc. purchased a new position in shares of Deere & Company in the 3rd quarter worth $208,000. Elwood & Goetz Wealth Advisory Group LLC bought a new position in Deere & Company in the third quarter valued at about $431,000. Legacy Wealth Asset Management LLC boosted its position in Deere & Company by 1.9% in the third quarter. Legacy Wealth Asset Management LLC now owns 1,385 shares of the industrial products company’s stock worth $578,000 after purchasing an additional 26 shares during the last quarter. Bank of Stockton grew its stake in shares of Deere & Company by 136.5% during the 3rd quarter. Bank of Stockton now owns 1,414 shares of the industrial products company’s stock valued at $590,000 after purchasing an additional 816 shares during the period. Finally, Massachusetts Wealth Management increased its position in shares of Deere & Company by 3.1% during the 3rd quarter. Massachusetts Wealth Management now owns 5,102 shares of the industrial products company’s stock valued at $2,129,000 after purchasing an additional 155 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Down 0.8 %

Deere & Company stock opened at $407.93 on Friday. 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 firm’s 50 day moving average price is $397.30 and its 200-day moving average price is $385.56. Deere & Company has a 1 year low of $340.20 and a 1 year high of $420.47. The stock has a market cap of $112.41 billion, a P/E ratio of 12.28, a PEG ratio of 1.35 and a beta of 0.92.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. The company had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. Deere & Company’s revenue for the quarter was down 20.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $10.20 EPS. On average, equities analysts predict that Deere & Company will post 25.03 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be given a $1.47 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.44%. Deere & Company’s dividend payout ratio is currently 17.70%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Citigroup boosted their target price on shares of Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. upped their price objective on Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a research note on Friday, October 11th. BMO Capital Markets started coverage on Deere & Company in a research report on Friday, August 9th. They set a “market perform” rating and a $400.00 target price on the stock. Raymond James started coverage on Deere & Company in a research report on Friday, June 28th. They issued an “outperform” rating and a $420.00 price target for the company. Finally, Bank of America raised their price objective on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Deere & Company presently has a consensus rating of “Hold” and a consensus price target of $420.69.

Deere & Company 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.