Ashton Thomas Private Wealth LLC Sells 874 Shares of Deere & Company (NYSE:DE)

Ashton Thomas Private Wealth LLC lowered its stake in Deere & Company (NYSE:DE) by 10.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,687 shares of the industrial products company’s stock after selling 874 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Deere & Company were worth $3,208,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Pineridge Advisors LLC increased its stake in Deere & Company by 725.0% during the 1st 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 in the last quarter. Fairscale Capital LLC bought a new stake in Deere & Company during the 2nd quarter valued at $26,000. Livelsberger Financial Advisory bought a new stake in Deere & Company during the 3rd quarter valued at $32,000. Olistico Wealth LLC bought a new stake in Deere & Company during the 2nd quarter valued at $37,000. Finally, Centennial Bank AR increased its stake in Deere & Company by 420.0% during the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 84 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

DE has been the subject of a number of recent research reports. Morgan Stanley decreased their price target on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. Evercore ISI upped their target price 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. Citigroup upped their target price on shares of Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. HSBC lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Finally, Oppenheimer reduced their target price on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. 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, Deere & Company has a consensus rating of “Hold” and an average target price of $420.69.

Deere & Company Price Performance

NYSE DE opened at $393.83 on Wednesday. The firm’s 50-day simple moving average is $403.35 and its two-hundred day simple moving average is $385.61. Deere & Company has a 52 week low of $340.20 and a 52 week high of $420.47. The company has a market cap of $107.75 billion, a PE ratio of 13.44, a price-to-earnings-growth ratio of 1.50 and a beta of 0.93. 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 (NYSE:DE) last announced 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. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The firm had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. During the same period in the prior year, the business posted $10.20 earnings per share. The company’s revenue was down 20.3% on a year-over-year basis. Research analysts predict that Deere & Company will post 25 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend was Monday, September 30th. Deere & Company’s dividend payout ratio is presently 20.06%.

Deere & Company 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.