Sweeney & Michel LLC Cuts Stock Holdings in Deere & Company (NYSE:DE)

Sweeney & Michel LLC reduced its position in shares of Deere & Company (NYSE:DE) by 3.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,266 shares of the industrial products company’s stock after selling 50 shares during the period. Sweeney & Michel LLC’s holdings in Deere & Company were worth $518,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Deere & Company by 1.2% in the first quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock worth $9,031,500,000 after purchasing an additional 263,709 shares during the last quarter. Janus Henderson Group PLC raised its stake in Deere & Company by 0.5% during the 1st quarter. Janus Henderson Group PLC now owns 3,859,021 shares of the industrial products company’s stock worth $1,585,028,000 after acquiring an additional 19,200 shares during the period. Legal & General Group Plc raised its stake in Deere & Company by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 2,254,266 shares of the industrial products company’s stock worth $842,259,000 after acquiring an additional 60,255 shares during the period. Dimensional Fund Advisors LP raised its stake in Deere & Company by 15.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock worth $802,037,000 after acquiring an additional 279,627 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in Deere & Company by 8.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,470,159 shares of the industrial products company’s stock worth $603,854,000 after acquiring an additional 114,116 shares during the period. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Down 0.9 %

NYSE DE traded down $3.86 during midday trading on Tuesday, hitting $403.10. 53,248 shares of the company traded hands, compared to its average volume of 1,460,561. 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 company has a market cap of $111.08 billion, a PE ratio of 12.13, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92. The company’s 50-day simple moving average is $394.28 and its 200-day simple moving average is $385.26. Deere & Company has a 52 week low of $340.20 and a 52 week high of $420.47.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.63 by $0.66. The business had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The business’s revenue for the quarter was down 20.3% on a year-over-year basis. During the same quarter last year, the firm earned $10.20 EPS. As a group, equities research analysts forecast that Deere & Company will post 25.03 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be given a $1.47 dividend. The ex-dividend date is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.46%. Deere & Company’s payout ratio is 17.70%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on DE shares. JPMorgan Chase & Co. lifted their price objective on shares of Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a research report on Friday, October 11th. Morgan Stanley decreased their price objective on Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. BMO Capital Markets began coverage on Deere & Company in a research report on Friday, August 9th. They set a “market perform” rating and a $400.00 price objective on the stock. Raymond James began coverage on Deere & Company in a report on Friday, June 28th. They issued an “outperform” rating and a $420.00 price target on the stock. Finally, HSBC downgraded Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Deere & Company currently has a consensus rating of “Hold” and an average 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.