Absher Wealth Management LLC Grows Holdings in Deere & Company (NYSE:DE)

Absher Wealth Management LLC lifted its holdings in shares of Deere & Company (NYSE:DE) by 7.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 83,666 shares of the industrial products company’s stock after acquiring an additional 5,557 shares during the period. Deere & Company makes up 4.5% of Absher Wealth Management LLC’s holdings, making the stock its 4th biggest holding. Absher Wealth Management LLC’s holdings in Deere & Company were worth $34,916,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Pathway Financial Advisers LLC grew its holdings in Deere & Company by 53,338.6% during the third quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock valued at $356,602,000 after purchasing an additional 852,885 shares during the period. International Assets Investment Management LLC lifted its holdings in Deere & Company by 46,892.9% during the third quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company’s stock valued at $322,218,000 after purchasing an additional 770,451 shares during the last quarter. Swedbank AB bought a new position in Deere & Company during the first quarter worth about $191,628,000. Mawer Investment Management Ltd. purchased a new position in shares of Deere & Company in the second quarter worth about $166,937,000. Finally, Dimensional Fund Advisors LP raised its position in shares of Deere & Company by 15.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock valued at $802,037,000 after purchasing an additional 279,627 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Performance

NYSE DE traded down $0.37 during trading hours on Friday, hitting $404.32. 75,425 shares of the company’s stock traded hands, compared to its average volume of 1,434,561. Deere & Company has a 52 week low of $340.20 and a 52 week high of $420.47. The firm has a market capitalization of $110.62 billion, a P/E ratio of 13.81, a P/E/G ratio of 1.35 and a beta of 0.92. 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 business’s fifty day moving average price is $400.47 and its two-hundred day moving average price is $385.50.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. The business had revenue of $11.39 billion during 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 quarterly revenue was down 20.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $10.20 earnings per share. Equities research analysts predict that Deere & Company will post 25 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be paid a $1.47 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 annualized dividend and a yield of 1.45%. Deere & Company’s payout ratio is 20.06%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. HSBC downgraded Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Morgan Stanley lowered their price objective on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. BMO Capital Markets assumed coverage on Deere & Company in a research note on Friday, August 9th. They set a “market perform” rating and a $400.00 price objective on the stock. Finally, Hsbc Global Res cut Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Twelve research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $420.69.

Deere & 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.