Empower Advisory Group LLC Sells 414 Shares of Deere & Company (NYSE:DE)

Empower Advisory Group LLC reduced its holdings in Deere & Company (NYSE:DE) by 1.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 35,924 shares of the industrial products company’s stock after selling 414 shares during the quarter. Empower Advisory Group LLC’s holdings in Deere & Company were worth $14,992,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Headlands Technologies LLC purchased a new position in shares of Deere & Company in the 1st quarter valued at approximately $138,000. Beacon Investment Advisory Services Inc. lifted its stake in shares of Deere & Company by 167.9% in the 1st quarter. Beacon Investment Advisory Services Inc. now owns 2,071 shares of the industrial products company’s stock valued at $851,000 after purchasing an additional 1,298 shares during the period. Midwest Professional Planners LTD. lifted its stake in shares of Deere & Company by 19.3% in the 1st quarter. Midwest Professional Planners LTD. now owns 754 shares of the industrial products company’s stock valued at $310,000 after purchasing an additional 122 shares during the period. HBK Sorce Advisory LLC lifted its stake in shares of Deere & Company by 5.2% in the 1st quarter. HBK Sorce Advisory LLC now owns 4,368 shares of the industrial products company’s stock valued at $1,794,000 after purchasing an additional 214 shares during the period. Finally, ProVise Management Group LLC purchased a new position in shares of Deere & Company in the 1st quarter valued at approximately $288,000. 68.58% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Truist Financial raised their target price on Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. BMO Capital Markets began coverage on Deere & Company in a research note on Friday, August 9th. They issued a “market perform” rating and a $400.00 target price for the company. HSBC cut Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Hsbc Global Res cut Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Finally, Bank of America lifted their price objective on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Twelve research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Deere & Company presently has an average rating of “Hold” and an average target price of $420.69.

Deere & Company Stock Down 1.1 %

DE stock opened at $389.45 on Thursday. Deere & Company has a 1-year low of $340.20 and a 1-year high of $420.47. The business has a fifty day moving average price of $403.52 and a 200-day moving average price of $385.61. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87. The stock has a market capitalization of $106.55 billion, a P/E ratio of 13.29, a P/E/G ratio of 1.50 and a beta of 0.93.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping the consensus estimate of $5.63 by $0.66. The firm 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 company’s revenue was down 20.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $10.20 earnings per share. Equities analysts forecast that Deere & Company will post 25 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date was Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is presently 20.06%.

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.