Deere & Company (NYSE:DE) Shares Sold by Moloney Securities Asset Management LLC

Moloney Securities Asset Management LLC cut its holdings in Deere & Company (NYSE:DE) by 14.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,145 shares of the industrial products company’s stock after selling 372 shares during the quarter. Moloney Securities Asset Management LLC’s holdings in Deere & Company were worth $895,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Catalyst Capital Advisors LLC lifted its stake in shares of Deere & Company by 665.0% during the third quarter. Catalyst Capital Advisors LLC now owns 306 shares of the industrial products company’s stock valued at $128,000 after buying an additional 266 shares during the period. Quintet Private Bank Europe S.A. lifted its stake in shares of Deere & Company by 17.6% during the third quarter. Quintet Private Bank Europe S.A. now owns 5,878 shares of the industrial products company’s stock valued at $2,453,000 after buying an additional 879 shares during the period. QRG Capital Management Inc. lifted its stake in shares of Deere & Company by 1.8% during the third quarter. QRG Capital Management Inc. now owns 29,970 shares of the industrial products company’s stock valued at $12,507,000 after buying an additional 538 shares during the period. National Pension Service lifted its stake in shares of Deere & Company by 10.7% during the third quarter. National Pension Service now owns 492,086 shares of the industrial products company’s stock valued at $205,362,000 after buying an additional 47,518 shares during the period. Finally, Mosaic Advisors LLC purchased a new position in shares of Deere & Company during the third quarter valued at approximately $424,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Truist Financial upped their price objective on shares of Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Citigroup upped their price objective on shares of Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Evercore ISI increased their price target on shares of Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research note on Monday, August 19th. Finally, HSBC downgraded shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $420.69.

Deere & Company Price Performance

DE opened at $400.30 on Wednesday. The company has a fifty day simple moving average of $401.71 and a 200 day simple moving average of $385.41. The firm has a market cap of $109.52 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 1.52 and a beta of 0.93. Deere & Company has a twelve month low of $340.20 and a twelve month high of $420.47. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. The business had revenue of $11.39 billion during the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The business’s revenue was down 20.3% on a year-over-year basis. During the same period last year, the business earned $10.20 EPS. Equities research analysts expect that Deere & Company will post 25 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently announced 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. This represents a $5.88 annualized dividend and a dividend yield of 1.47%. The ex-dividend date is Monday, September 30th. Deere & Company’s payout ratio is currently 20.06%.

About Deere & Company

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.