Deere & Company $DE Shares Sold by Allworth Financial LP

Allworth Financial LP trimmed its holdings in Deere & Company (NYSE:DE - Free Report) by 15.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,781 shares of the industrial products company's stock after selling 2,207 shares during the quarter. Allworth Financial LP's holdings in Deere & Company were worth $7,473,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Cary Street Partners Financial LLC raised its holdings in shares of Deere & Company by 11.8% in the 4th quarter. Cary Street Partners Financial LLC now owns 10,312 shares of the industrial products company's stock worth $4,801,000 after purchasing an additional 1,086 shares in the last quarter. Baxter Bros Inc. bought a new stake in Deere & Company during the second quarter worth approximately $1,707,000. Global Retirement Partners LLC bought a new stake in Deere & Company during the second quarter worth approximately $3,890,000. Westpac Banking Corp grew its position in Deere & Company by 78.6% in the fourth quarter. Westpac Banking Corp now owns 6,925 shares of the industrial products company's stock worth $3,224,000 after buying an additional 3,047 shares during the last quarter. Finally, TRB Wealth Management LLC acquired a new position in Deere & Company in the second quarter worth approximately $623,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Down 0.5%

NYSE:DE opened at $677.52 on Thursday. The business's fifty day moving average price is $622.35 and its 200 day moving average price is $597.71. The firm has a market capitalization of $182.67 billion, a price-to-earnings ratio of 37.64, a PEG ratio of 2.81 and a beta of 0.90. The company has a current ratio of 2.10, a quick ratio of 1.89 and a debt-to-equity ratio of 1.45. Deere & Company has a 1-year low of $433.00 and a 1-year high of $705.88.

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

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.0%. Deere & Company's dividend payout ratio (DPR) is 36.00%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Wall Street Zen cut Deere & Company from a "hold" rating to a "sell" rating in a report on Saturday, August 22nd. UBS Group reduced their price objective on Deere & Company from $732.00 to $728.00 and set a "buy" rating for the company in a research note on Friday, August 21st. Seaport Research Partners set a $570.00 target price on Deere & Company in a report on Friday, August 14th. Bank of America cut their target price on Deere & Company from $672.00 to $607.50 and set a "neutral" rating on the stock in a research report on Friday, May 22nd. Finally, Citigroup upped their target price on Deere & Company from $610.00 to $650.00 and gave the company a "neutral" rating in a report on Friday, August 21st. Sixteen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $680.73.

Deere & Company Profile

Deere & Company, operating under the John Deere brand, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. Its products include tractors, combines, harvesters, planters, sprayers, loaders, excavators, skid steers, forestry machines, commercial mowing equipment and compact utility tractors. The company also develops precision agriculture and construction technologies, including machine guidance, automation, data-management and connected-equipment solutions.

Founded by blacksmith John Deere in 1837, the company has grown from its original steel plow business into a diversified equipment and technology provider.

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