Deere & Company (NYSE:DE) Shares Sold by Narwhal Capital Management

Narwhal Capital Management lowered its stake in Deere & Company (NYSE:DE) by 29.7% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,367 shares of the industrial products company’s stock after selling 577 shares during the quarter. Narwhal Capital Management’s holdings in Deere & Company were worth $570,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Sound Income Strategies LLC lifted its position in shares of Deere & Company by 53.8% in the first quarter. Sound Income Strategies LLC now owns 512 shares of the industrial products company’s stock valued at $210,000 after acquiring an additional 179 shares in the last quarter. Chemistry Wealth Management LLC acquired a new stake in Deere & Company during the 1st quarter worth $231,000. Sunbelt Securities Inc. grew its holdings in shares of Deere & Company by 11.6% during the first quarter. Sunbelt Securities Inc. now owns 714 shares of the industrial products company’s stock worth $293,000 after buying an additional 74 shares in the last quarter. Key Client Fiduciary Advisors LLC acquired a new stake in shares of Deere & Company in the first quarter valued at about $241,000. Finally, Aletheian Wealth Advisors LLC lifted its stake in shares of Deere & Company by 44.3% in the first quarter. Aletheian Wealth Advisors LLC now owns 2,349 shares of the industrial products company’s stock worth $965,000 after buying an additional 721 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

DE has been the subject of a number of recent research reports. Oppenheimer cut their price objective on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Morgan Stanley reduced 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. JPMorgan Chase & Co. raised their target price on Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a research note on Friday, October 11th. Raymond James initiated coverage on shares of Deere & Company in a research report on Friday, June 28th. They set an “outperform” rating and a $420.00 price target on the stock. Finally, Bank of America upped their price objective on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $420.69.

Deere & Company Trading Down 0.1 %

Shares of NYSE DE opened at $406.65 on Wednesday. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. The stock has a market capitalization of $112.06 billion, a PE ratio of 12.24, a PEG ratio of 1.35 and a beta of 0.92. Deere & Company has a twelve month low of $340.20 and a twelve month high of $420.47. The stock has a fifty day simple moving average of $395.40 and a 200-day simple moving average of $385.21.

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

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s payout ratio is currently 17.70%.

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.