Deere & Company $DE Stock Sold by Sterling Capital Management LLC

Key Points

• Sterling Capital Management cut its Deere stake by 13.6% in the third quarter, selling 10,418 shares and retaining 66,036 shares valued at approximately $44.3 million. Institutional investors and hedge funds own 68.58% of Deere’s stock.
• Deere reported quarterly EPS of $5.10, beating estimates of $4.69, while revenue rose 6.2% year over year to $12.61 billion. The company also declared a quarterly dividend of $1.62 per share, representing a 1.0% yield.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $688.10, compared with the stock’s recent price of $645.61.

Sterling Capital Management LLC trimmed its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 13.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,036 shares of the industrial products company's stock after selling 10,418 shares during the period. Deere & Company accounts for about 0.9% of Sterling Capital Management LLC's investment portfolio, making the stock its 17th biggest holding. Sterling Capital Management LLC's holdings in Deere & Company were worth $44,346,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. James Investment Research Inc. lifted its stake in shares of Deere & Company by 0.7% in the 3rd quarter. James Investment Research Inc. now owns 3,202 shares of the industrial products company's stock valued at $2,150,000 after purchasing an additional 23 shares during the period. XXI Wealth LLC lifted its stake in Deere & Company by 4.8% in the third quarter. XXI Wealth LLC now owns 614 shares of the industrial products company's stock valued at $412,000 after buying an additional 28 shares during the period. MBL Wealth LLC lifted its stake in Deere & Company by 17.4% in the third quarter. MBL Wealth LLC now owns 1,834 shares of the industrial products company's stock valued at $1,232,000 after buying an additional 272 shares during the period. Compass Wealth Management LLC acquired a new position in Deere & Company in the third quarter valued at about $167,000. Finally, Brookstone Capital Management boosted its holdings in Deere & Company by 39.2% during the third quarter. Brookstone Capital Management now owns 8,356 shares of the industrial products company's stock worth $5,612,000 after buying an additional 2,354 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Trading Up 0.3%

Shares of Deere & Company stock traded up $1.99 during trading hours on Friday, hitting $645.61. The company's stock had a trading volume of 693,936 shares, compared to its average volume of 1,162,021. Deere & Company has a 12 month low of $454.50 and a 12 month high of $721.22. The stock has a 50 day moving average of $660.40 and a 200 day moving average of $614.23. The company has a market capitalization of $174.07 billion, a PE ratio of 35.87, a price-to-earnings-growth ratio of 2.35 and a beta of 0.86. The company has a debt-to-equity ratio of 1.45, a current ratio of 2.10 and a quick ratio of 1.89.

Deere & Company (NYSE:DE - Get Free Report) last released 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. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%. The company had revenue of $12.61 billion for the quarter, compared to analyst estimates of $10.81 billion. During the same quarter last year, the firm posted $4.75 earnings per share. Deere & Company's revenue was up 6.2% compared to the same quarter last year. Analysts predict that Deere & Company will post 18.11 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Wednesday, September 30th will be given a $1.62 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.0%. Deere & Company's payout ratio is currently 36.00%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on DE shares. Nomura upgraded Deere & Company to a "buy" rating in a research report on Monday, August 31st. Wall Street Zen downgraded shares of Deere & Company from a "hold" rating to a "sell" rating in a research report on Saturday, August 22nd. JPMorgan Chase & Co. increased their price target on shares of Deere & Company from $585.00 to $625.00 and gave the company a "neutral" rating in a research report on Thursday, October 8th. Evercore raised 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 research note on Wednesday, September 2nd. Finally, DA Davidson boosted their price objective on shares of Deere & Company from $685.00 to $760.00 and gave the company a "buy" rating in a report on Monday, August 24th. Seventeen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, Deere & Company currently has an average rating of "Moderate Buy" and a consensus price target of $688.10.

Deere & Company Company Profile

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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