Comerica Bank lowered its stake in Deere & Company (NYSE:DE) by 22.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,700 shares of the industrial products company’s stock after selling 18,258 shares during the period. Comerica Bank’s holdings in Deere & Company were worth $8,894,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. TD Asset Management Inc. boosted its position in shares of Deere & Company by 50.8% during the third quarter. TD Asset Management Inc. now owns 291,027 shares of the industrial products company’s stock valued at $43,750,000 after buying an additional 98,096 shares during the period. Private Advisor Group LLC boosted its holdings in shares of Deere & Company by 75.4% in the third quarter. Private Advisor Group LLC now owns 26,805 shares of the industrial products company’s stock valued at $4,030,000 after purchasing an additional 11,522 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Deere & Company by 1.4% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 75,644 shares of the industrial products company’s stock valued at $11,371,000 after purchasing an additional 1,078 shares during the period. Synovus Financial Corp boosted its holdings in shares of Deere & Company by 6.9% in the third quarter. Synovus Financial Corp now owns 12,338 shares of the industrial products company’s stock valued at $1,856,000 after purchasing an additional 793 shares during the period. Finally, Wedge Capital Management L L P NC boosted its holdings in shares of Deere & Company by 11.5% in the third quarter. Wedge Capital Management L L P NC now owns 102,284 shares of the industrial products company’s stock valued at $15,376,000 after purchasing an additional 10,528 shares during the period. Institutional investors own 66.47% of the company’s stock.
DE has been the subject of a number of research reports. OTR Global lowered Deere & Company to a “$139.21” rating in a report on Wednesday, July 18th. UBS Group lowered their price target on Deere & Company from $185.00 to $177.00 and set a “buy” rating for the company in a report on Friday, July 20th. Goldman Sachs Group lowered Deere & Company from a “conviction-buy” rating to a “buy” rating in a report on Monday, July 16th. Argus lowered their price target on Deere & Company to $160.00 and set a “buy” rating for the company in a report on Monday, August 20th. Finally, Wells Fargo & Co lowered their price target on Deere & Company from $190.00 to $180.00 and set a “buy” rating for the company in a report on Monday, August 20th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the stock. Deere & Company presently has a consensus rating of “Buy” and a consensus price target of $177.75.
Shares of DE opened at $144.81 on Friday. The firm has a market cap of $46.79 billion, a PE ratio of 21.68, a P/E/G ratio of 2.22 and a beta of 0.97. The company has a debt-to-equity ratio of 2.59, a quick ratio of 1.66 and a current ratio of 1.91. Deere & Company has a 1-year low of $128.32 and a 1-year high of $175.26.
Deere & Company (NYSE:DE) last announced its quarterly earnings data on Friday, August 17th. The industrial products company reported $2.59 earnings per share for the quarter, missing analysts’ consensus estimates of $2.75 by ($0.16). The company had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.18 billion. Deere & Company had a net margin of 5.82% and a return on equity of 28.51%. Deere & Company’s quarterly revenue was up 35.9% compared to the same quarter last year. During the same period last year, the firm earned $1.97 earnings per share. Sell-side analysts anticipate that Deere & Company will post 9.51 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 1st. Stockholders of record on Friday, September 28th were issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend was Thursday, September 27th. Deere & Company’s dividend payout ratio (DPR) is presently 41.32%.
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About Deere & Company
Deere & Company, together with its subsidiaries, manufactures and distributes agriculture and turf, and construction and forestry equipment worldwide. The company's Agriculture and Turf segment provides agriculture and turf equipment, and related service parts, including large, medium, and utility tractors; tractor loaders; combines, cotton pickers, cotton strippers, and sugarcane harvesters; related harvesting front-end equipment; sugarcane loaders and pull-behind scrapers; and tillage, seeding, and application equipment comprising sprayers, and nutrient management and soil preparation machinery.
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