Deere & Company $DE Stock Sold by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada cut its Deere stake by 63% in the third quarter, selling 58,998 shares and retaining 34,593 shares worth approximately $23.1 million.
• 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, implying a 1.0% annual yield.
• Analyst sentiment remains favorable, with a “Moderate Buy” consensus and an average price target of $688.10, despite shares trading down 1.4% and closing at $641.46.

TD Waterhouse Canada Inc. decreased its stake in Deere & Company (NYSE:DE - Free Report) by 63.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,593 shares of the industrial products company's stock after selling 58,998 shares during the period. TD Waterhouse Canada Inc.'s holdings in Deere & Company were worth $23,079,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Deere & Company during the 2nd quarter worth $27,000. Kilter Group LLC purchased a new position in Deere & Company in the second quarter worth $29,000. Solstein Capital LLC purchased a new position in Deere & Company in the second quarter worth $30,000. Orion Capital Management LLC bought a new position in Deere & Company in the second quarter valued at $32,000. Finally, Downshift Financial LLC increased its stake in Deere & Company by 218.8% in the third quarter. Downshift Financial LLC now owns 51 shares of the industrial products company's stock valued at $34,000 after acquiring an additional 35 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company's stock.

Deere & Company Trading Down 1.4%

DE stock opened at $641.46 on Friday. The company has a market capitalization of $172.95 billion, a PE ratio of 35.64, 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 quick ratio of 1.89 and a current ratio of 2.10. Deere & Company has a one year low of $454.50 and a one year high of $721.22. The company's 50 day moving average price is $658.05 and its two-hundred day moving average price is $611.83.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings data on Thursday, August 20th. The industrial products company reported $5.10 earnings per share for the quarter, topping analysts' consensus estimates of $4.69 by $0.41. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The firm had revenue of $12.61 billion during the quarter, compared to analyst estimates of $10.81 billion. During the same period in the previous year, the business posted $4.75 EPS. The business's quarterly revenue was up 6.2% on a year-over-year basis. As a group, analysts predict that Deere & Company will post 18.11 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently announced 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. This represents a $6.48 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Wednesday, September 30th. Deere & Company's dividend payout ratio (DPR) is presently 36.00%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on DE. Evercore upgraded Deere & Company from an "in-line" rating to an "outperform" rating and set a $813.00 price target on the stock in a research report on Wednesday, September 2nd. JPMorgan Chase & Co. lifted their price target on Deere & Company from $585.00 to $625.00 and gave the stock a "neutral" rating in a research note on Thursday, October 8th. Wall Street Zen cut Deere & Company from a "hold" rating to a "sell" rating in a report on Saturday, August 22nd. Barclays increased their price objective on Deere & Company from $640.00 to $675.00 and gave the company an "overweight" rating in a research report on Monday, August 24th. Finally, Robert W. Baird upgraded Deere & Company from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $640.00 to $800.00 in a research report on Monday, August 31st. Seventeen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, Deere & Company currently has an average rating of "Moderate Buy" and an average target price 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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