2,007 Deere & Company $DE Shares Sold by Wealth Enhancement Trust Services Inc.

Key Points

• Wealth Enhancement Trust Services reduced its Deere & Company position by 34.3%, selling 2,007 shares and retaining 3,848 shares valued at approximately $2.58 million. Institutional investors collectively own 68.58% of the stock.
• Deere reported quarterly earnings of $5.10 per share, exceeding estimates of $4.69, while revenue reached $12.61 billion and rose 6.2% year over year. The company declared a $1.62 quarterly dividend, equivalent to a 1.0% yield.
• Analyst sentiment remains favorable, with 17 Buy ratings and eight Holds producing a “Moderate Buy” consensus and an average price target of $686.10, although regulatory scrutiny of equipment repair practices and higher borrowing costs pose risks.

Wealth Enhancement Trust Services Inc. lessened its position in Deere & Company (NYSE:DE - Free Report) by 34.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,848 shares of the industrial products company's stock after selling 2,007 shares during the quarter. Wealth Enhancement Trust Services Inc.'s holdings in Deere & Company were worth $2,584,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co raised its holdings in Deere & Company by 3.2% in the second quarter. SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co now owns 516 shares of the industrial products company's stock worth $308,000 after purchasing an additional 16 shares in the last quarter. Anchyra Partners LLC boosted its holdings in shares of Deere & Company by 0.5% during the 1st quarter. Anchyra Partners LLC now owns 3,191 shares of the industrial products company's stock valued at $1,797,000 after buying an additional 17 shares in the last quarter. William B. Walkup & Associates Inc. boosted its holdings in shares of Deere & Company by 0.6% during the 1st quarter. William B. Walkup & Associates Inc. now owns 2,908 shares of the industrial products company's stock valued at $1,638,000 after buying an additional 17 shares in the last quarter. Concorde Asset Management LLC grew its position in shares of Deere & Company by 3.0% in the 2nd quarter. Concorde Asset Management LLC now owns 581 shares of the industrial products company's stock worth $369,000 after buying an additional 17 shares during the period. Finally, MCF Advisors LLC grew its position in shares of Deere & Company by 0.9% in the 2nd quarter. MCF Advisors LLC now owns 1,999 shares of the industrial products company's stock worth $1,271,000 after buying an additional 17 shares during the period. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Performance

DE traded down $25.85 during midday trading on Wednesday, hitting $656.94. 1,210,179 shares of the company traded hands, compared to its average volume of 1,365,359. The company's 50-day moving average is $653.35 and its 200 day moving average is $608.66. The company has a quick ratio of 1.89, a current ratio of 2.10 and a debt-to-equity ratio of 1.45. The firm has a market capitalization of $177.13 billion, a PE ratio of 36.50, a price-to-earnings-growth ratio of 2.49 and a beta of 0.86. Deere & Company has a 52 week low of $433.00 and a 52 week high of $721.22.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 EPS for the quarter, topping analysts' consensus estimates of $4.69 by $0.41. The firm had revenue of $12.61 billion during the quarter, compared to analyst estimates of $10.81 billion. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The business's revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the previous year, the business posted $4.75 earnings per share. On average, research analysts expect that Deere & Company will post 18.12 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 9th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, September 30th. Deere & Company's dividend payout ratio is presently 36.00%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Deere & Company from $570.00 to $585.00 and gave the company a "neutral" rating in a research report on Friday, August 21st. Evercore upgraded shares of Deere & Company from an "in-line" rating to an "outperform" rating and set a $813.00 price objective on the stock in a report on Wednesday, September 2nd. Raymond James Financial raised their target price on shares of Deere & Company from $700.00 to $730.00 and gave the company an "outperform" rating in a research note on Monday, August 31st. Barclays lifted their target price on shares of Deere & Company from $640.00 to $675.00 and gave the company an "overweight" rating in a report on Monday, August 24th. Finally, Wall Street Zen cut Deere & Company from a "hold" rating to a "sell" rating in a research report on Saturday, August 22nd. Seventeen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $686.10.

Key Deere & Company News

Here are the key news stories impacting Deere & Company this week:

• Positive Sentiment: Deere announced a collaboration with Yamaha Motor to develop certain future side-by-side vehicles. Yamaha will contribute powertrain and vehicle-design expertise, while Deere brings vehicle-development capabilities and U.S. manufacturing capacity. The partnership could expand Deere’s off-road vehicle offering and leverage both companies’ strengths. Yamaha Motor and John Deere Announce Collaboration on Future Side-by-Side Vehicles
• Neutral Sentiment: Deere remains highlighted as an AgTech and precision-agriculture company, giving investors exposure to smart-farming technologies and potential long-term agricultural productivity trends. However, this thematic coverage does not provide a specific new earnings catalyst. AgTech and Food Innovation Stocks Driving Smarter Food Systems
• Negative Sentiment: The Federal Trade Commission and U.S. Department of Agriculture are seeking public information about possible barriers to purchasing, servicing and repairing agricultural equipment. The inquiry raises the risk of increased scrutiny, regulatory costs or policy changes affecting Deere’s dealer, parts and repair practices. Caterpillar and Deere Stock Fall as Regulatory Pressure Continues
• Negative Sentiment: Long-term Treasury yields reached levels not seen in more than two decades, pressuring manufacturers such as Deere whose customers often finance expensive equipment. Higher borrowing costs can weaken farm-equipment demand and increase financing pressure across the industrial sector. Caterpillar Drops as Industrials Sell Off With Long Yields at a Two-Decade High

About Deere & Company

Deere & Company, commonly known as John Deere, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. The company's products include tractors, combines, planters, sprayers, harvesting equipment, earthmoving machinery, forestry equipment, commercial and residential lawn-care products, and related technology solutions.

Deere operates through businesses serving production and precision agriculture, small agriculture and turf, and construction and forestry markets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.