Costello Asset Management INC Decreases Stake in Deere & Company (NYSE:DE)

Costello Asset Management INC lessened its holdings in shares of Deere & Company (NYSE:DE) by 2.3% in the 3rd quarter, Holdings Channel reports. The fund owned 3,394 shares of the industrial products company’s stock after selling 80 shares during the quarter. Costello Asset Management INC’s holdings in Deere & Company were worth $1,416,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Fairscale Capital LLC acquired a new stake in shares of Deere & Company in the 2nd quarter worth $26,000. Pineridge Advisors LLC grew its holdings in shares of Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 58 shares during the period. Livelsberger Financial Advisory purchased a new stake in shares of Deere & Company in the third quarter valued at about $32,000. Olistico Wealth LLC acquired a new stake in Deere & Company during the second quarter worth about $37,000. Finally, Centennial Bank AR raised its stake in Deere & Company by 420.0% during the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 84 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on DE shares. Truist Financial increased their price target 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. 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. HSBC lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Hsbc Global Res downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $420.69.

Deere & Company Stock Down 4.2 %

Shares of NYSE:DE opened at $394.06 on Friday. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $420.47. The firm’s 50 day moving average price is $403.02 and its 200 day moving average price is $385.69. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The stock has a market cap of $107.81 billion, a price-to-earnings ratio of 13.44, a price-to-earnings-growth ratio of 1.54 and a beta of 0.93.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. The company had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The company’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $10.20 EPS. As a group, equities research analysts predict that Deere & Company will post 25 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, September 30th were issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date was Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is 20.06%.

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.