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

Narwhal Capital Management cut its stake in shares of Deere & Company (NYSE:DE) by 29.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor 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 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in DE. Sound Income Strategies LLC grew its holdings in Deere & Company by 53.8% during the 1st quarter. Sound Income Strategies LLC now owns 512 shares of the industrial products company’s stock worth $210,000 after acquiring an additional 179 shares in the last quarter. Chemistry Wealth Management LLC acquired a new position in shares of Deere & Company during the first quarter worth $231,000. Sunbelt Securities Inc. increased its holdings in Deere & Company by 11.6% in the first quarter. Sunbelt Securities Inc. now owns 714 shares of the industrial products company’s stock valued at $293,000 after buying an additional 74 shares during the last quarter. Key Client Fiduciary Advisors LLC purchased a new position in Deere & Company in the first quarter valued at $241,000. Finally, Aletheian Wealth Advisors LLC raised its stake in 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 valued at $965,000 after buying an additional 721 shares in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

DE has been the subject of several analyst reports. BMO Capital Markets assumed coverage on Deere & Company in a research report on Friday, August 9th. They set a “market perform” rating and a $400.00 price objective for the company. Morgan Stanley lowered their price target on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Monday, August 26th. HSBC cut shares of Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. JPMorgan Chase & Co. upped their target price on shares of Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a report on Friday, October 11th. Finally, Deutsche Bank Aktiengesellschaft dropped 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. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $420.69.

Deere & Company Stock Performance

NYSE DE opened at $406.65 on Wednesday. The business’s 50-day moving average price is $395.40 and its 200 day moving average price is $385.21. 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 firm has a market cap of $112.06 billion, a P/E ratio of 12.24, a P/E/G ratio of 1.35 and a beta of 0.92. Deere & Company has a 52-week low of $340.20 and a 52-week high of $420.47.

Deere & Company (NYSE:DE) last announced 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 for 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%. The company’s revenue was down 20.3% on a year-over-year basis. During the same period last year, the business posted $10.20 EPS. On average, equities research analysts expect that Deere & Company will post 25.03 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed 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 dividend payout ratio is currently 17.70%.

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.