Deere & Company $DE Stock Sold by Blume Capital Management Inc.

Key Points

• Blume Capital Management cut its Deere & Company stake by 75.6% in the third quarter, selling 5,749 shares and retaining 1,858 shares valued at approximately $1.25 million.
• Deere reported quarterly EPS of $5.10, exceeding the $4.69 analyst consensus, while revenue reached $12.61 billion and rose 6.2% year over year.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $688.10; Deere also declared a quarterly dividend of $1.62 per share, equivalent to a 1.0% annual yield.

Blume Capital Management Inc. lowered its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 75.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,858 shares of the industrial products company's stock after selling 5,749 shares during the period. Blume Capital Management Inc.'s holdings in Deere & Company were worth $1,248,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of DE. Kingswood Wealth Advisors LLC grew its holdings in Deere & Company by 1.5% in the third quarter. Kingswood Wealth Advisors LLC now owns 3,544 shares of the industrial products company's stock worth $2,380,000 after purchasing an additional 53 shares during the period. Sigma Planning Corp boosted its position in shares of Deere & Company by 13.2% in the 3rd quarter. Sigma Planning Corp now owns 8,161 shares of the industrial products company's stock worth $5,472,000 after purchasing an additional 949 shares in the last quarter. Revolve Wealth Partners LLC grew its stake in shares of Deere & Company by 4.7% in the 3rd quarter. Revolve Wealth Partners LLC now owns 381 shares of the industrial products company's stock worth $256,000 after buying an additional 17 shares during the last quarter. Compass Ion Advisors LLC grew its stake in shares of Deere & Company by 4.4% in the 3rd quarter. Compass Ion Advisors LLC now owns 403 shares of the industrial products company's stock worth $271,000 after buying an additional 17 shares during the last quarter. Finally, Signaturefd LLC grew its stake in shares of Deere & Company by 4.9% in the 3rd quarter. Signaturefd LLC now owns 5,737 shares of the industrial products company's stock worth $3,853,000 after buying an additional 268 shares during the last quarter. Institutional investors own 68.58% of the company's stock.

Wall Street Analysts Forecast Growth

DE has been the subject of a number of analyst reports. Weiss Ratings raised Deere & Company from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, September 21st. Citigroup boosted their target price on Deere & Company from $610.00 to $650.00 and gave the stock a "neutral" rating in a report on Friday, August 21st. JPMorgan Chase & Co. increased their target price on Deere & Company from $585.00 to $625.00 and gave the stock a "neutral" rating in a research note on Thursday, October 8th. CICC Research assumed coverage on Deere & Company in a research note on Sunday, September 13th. They issued an "outperform" rating on the stock. Finally, Seaport Research Partners set a $570.00 price target on Deere & Company in a report on Friday, August 14th. Seventeen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $688.10.

Deere & Company Stock Performance

Shares of NYSE DE opened at $640.69 on Tuesday. The firm's 50-day moving average price is $658.72 and its 200-day moving average price is $600.08. 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 company has a market cap of $172.74 billion, a PE ratio of 35.59, a PEG ratio of 2.36 and a beta of 0.86. Deere & Company has a 52-week low of $454.50 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. As a group, analysts anticipate that Deere & Company will post 18.11 EPS for the current 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 given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, September 30th. Deere & Company's payout ratio is 36.00%.

About Deere & Company

Deere & Company, founded by blacksmith John Deere in 1837, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. The company is headquartered in Moline, Illinois, and operates under the John Deere brand.

Its products include tractors, combines, planters, sprayers, harvesting equipment, loaders, excavators, motor graders, forestry machines, mowers and compact utility equipment. Deere also provides replacement parts, equipment support, financing and technology-enabled solutions designed to improve machine productivity, automation and precision in farming and other industries.

Deere serves customers through dealerships and operations across North America, Latin America, Europe and other international markets.

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