Woodard & Co. Asset Management Group Inc. ADV Reduces Stock Position in Deere & Company (NYSE:DE)

Woodard & Co. Asset Management Group Inc. ADV lowered its position in shares of Deere & Company (NYSE:DE) by 80.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 787 shares of the industrial products company’s stock after selling 3,212 shares during the quarter. Woodard & Co. Asset Management Group Inc. ADV’s holdings in Deere & Company were worth $329,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in DE. Mattern Wealth Management LLC increased its holdings in shares of Deere & Company by 1.3% during the third quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock valued at $786,000 after acquiring an additional 25 shares in the last quarter. Centaurus Financial Inc. increased its position in shares of Deere & Company by 2.3% during the 2nd quarter. Centaurus Financial Inc. now owns 1,160 shares of the industrial products company’s stock worth $433,000 after purchasing an additional 26 shares during the last quarter. Cornell Pochily Investment Advisors Inc. boosted its holdings in Deere & Company by 0.7% during the 3rd quarter. Cornell Pochily Investment Advisors Inc. now owns 3,495 shares of the industrial products company’s stock valued at $1,459,000 after acquiring an additional 26 shares during the period. Cornerstone Wealth Management LLC boosted its stake in shares of Deere & Company by 0.9% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 3,098 shares of the industrial products company’s stock valued at $1,293,000 after buying an additional 27 shares during the period. Finally, First Foundation Advisors lifted its stake in Deere & Company by 2.3% during the first quarter. First Foundation Advisors now owns 1,249 shares of the industrial products company’s stock worth $513,000 after purchasing an additional 28 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

NYSE:DE opened at $411.03 on Friday. The stock has a market cap of $113.27 billion, a P/E ratio of 12.37, a PEG ratio of 1.35 and a beta of 0.92. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. Deere & Company has a twelve month low of $340.20 and a twelve month high of $420.47. The business’s 50-day moving average price is $396.54 and its two-hundred day moving average price is $385.38.

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 the consensus estimate of $5.63 by $0.66. The company had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The firm’s revenue was down 20.3% on a year-over-year basis. During the same period in the previous year, the company posted $10.20 earnings per share. As a group, equities analysts predict that Deere & Company will post 25.03 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be issued a $1.47 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.43%. Deere & Company’s payout ratio is 17.70%.

Analyst Upgrades and Downgrades

Several research analysts have commented on DE shares. Hsbc Global Res lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Evercore ISI upped their price objective on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a report on Monday, August 19th. Morgan Stanley decreased their target price 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 initiated coverage on Deere & Company in a research report on Friday, August 9th. They issued a “market perform” rating and a $400.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Twelve research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Deere & Company has an average rating of “Hold” and a consensus price target of $420.69.

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.