Woodard & Co. Asset Management Group Inc. ADV Cuts Position in Deere & Company (NYSE:DE)

Woodard & Co. Asset Management Group Inc. ADV lowered its stake in shares of Deere & Company (NYSE:DE) by 80.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 787 shares of the industrial products company’s stock after selling 3,212 shares during the quarter. Woodard & Co. Asset Management Group Inc. ADV’s holdings in Deere & Company were worth $329,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Mattern Wealth Management LLC grew its stake in shares of Deere & Company by 1.3% during the third quarter. Mattern Wealth Management LLC now owns 1,884 shares of the industrial products company’s stock worth $786,000 after purchasing an additional 25 shares in the last quarter. Centaurus Financial Inc. raised its holdings in Deere & Company by 2.3% during the second quarter. Centaurus Financial Inc. now owns 1,160 shares of the industrial products company’s stock worth $433,000 after purchasing an additional 26 shares in the last quarter. Cornell Pochily Investment Advisors Inc. increased its holdings in Deere & Company by 0.7% in the third quarter. Cornell Pochily Investment Advisors Inc. now owns 3,495 shares of the industrial products company’s stock valued at $1,459,000 after buying an additional 26 shares in the last quarter. Cornerstone Wealth Management LLC increased its holdings in Deere & Company by 0.9% in the third quarter. Cornerstone Wealth Management LLC now owns 3,098 shares of the industrial products company’s stock valued at $1,293,000 after buying an additional 27 shares in the last quarter. Finally, First Foundation Advisors increased its holdings in Deere & Company by 2.3% in the first quarter. First Foundation Advisors now owns 1,249 shares of the industrial products company’s stock valued at $513,000 after buying an additional 28 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of DE opened at $411.03 on Friday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. Deere & Company has a twelve month low of $340.20 and a twelve month high of $420.47. The firm’s 50 day moving average price is $396.54 and its two-hundred day moving average price is $385.38. The firm has a market cap of $113.27 billion, a P/E ratio of 12.37, a PEG ratio of 1.35 and a beta of 0.92.

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 analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The firm had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. During the same quarter in the previous year, the firm posted $10.20 earnings per share. The business’s revenue was down 20.3% on a year-over-year basis. On average, analysts forecast that Deere & Company will post 25.03 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be given a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s dividend payout ratio is presently 17.70%.

Analyst Ratings Changes

Several research firms have recently commented on DE. Citigroup increased their price target on shares of Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. 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. Bank of America raised their target price on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Oppenheimer decreased their target price on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Finally, JPMorgan Chase & Co. raised their target price on shares of Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a research report on Friday, October 11th. Twelve equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Deere & Company currently has a consensus rating of “Hold” and a consensus target price 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.