DMKC Advisory Services LLC Sells 8,290 Shares of Deere & Company $DE

Key Points

• DMKC Advisory Services cut its Deere stake by 56.1%, selling 8,290 shares in the third quarter. It retained 6,488 shares valued at about $4.36 million.
• Deere reported quarterly earnings of $5.10 per share, topping the $4.69 consensus estimate, while revenue rose 6.2% year over year to $12.61 billion.
• Analysts’ consensus rating was “Moderate Buy”, with an average price target of $688.10; institutional investors owned 68.58% of the stock.

DMKC Advisory Services LLC cut its stake in Deere & Company (NYSE:DE - Free Report) by 56.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,488 shares of the industrial products company's stock after selling 8,290 shares during the period. Deere & Company makes up about 1.1% of DMKC Advisory Services LLC's portfolio, making the stock its 25th biggest holding. DMKC Advisory Services LLC's holdings in Deere & Company were worth $4,357,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of Deere & Company during the 2nd quarter worth $11,763,504,000. Bank of America Corp DE bought a new position in shares of Deere & Company in the second quarter worth $1,685,093,000. Bank of New York Mellon Corp bought a new position in shares of Deere & Company in the second quarter worth $1,259,279,000. Legal & General Group Plc acquired a new position in Deere & Company in the second quarter valued at about $957,456,000. Finally, Wellington Management Group LLP raised its stake in Deere & Company by 84.3% in the second quarter. Wellington Management Group LLP now owns 3,088,628 shares of the industrial products company's stock valued at $1,959,209,000 after purchasing an additional 1,412,694 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Price Performance

Shares of DE stock opened at $689.80 on Tuesday. The company has a quick ratio of 1.89, a current ratio of 2.10 and a debt-to-equity ratio of 1.45. Deere & Company has a twelve month low of $455.90 and a twelve month high of $721.22. The company has a market cap of $185.98 billion, a P/E ratio of 38.32, a P/E/G ratio of 1.92 and a beta of 0.89. The business has a fifty day simple moving average of $668.20 and a 200 day simple moving average of $608.94.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings data 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. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%. The business had revenue of $12.61 billion for the quarter, compared to analyst estimates of $10.81 billion. During the same period 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. On average, sell-side analysts forecast that Deere & Company will post 18.11 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 9th. Stockholders of record on Wednesday, September 30th were issued a $1.62 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 0.9%. Deere & Company's dividend payout ratio is 36.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on DE shares. Truist Financial reduced their price objective on shares of Deere & Company from $812.00 to $804.00 and set a "buy" rating on the stock in a research note on Monday, August 24th. Citigroup boosted their target price on shares of Deere & Company from $610.00 to $650.00 and gave the company a "neutral" rating in a research report on Friday, August 21st. CICC Research assumed coverage on shares of Deere & Company in a research report on Sunday, September 13th. They issued an "outperform" rating for the company. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $752.00 price target on shares of Deere & Company in a report on Monday, August 24th. Finally, UBS Group reduced their price target on shares of Deere & Company from $732.00 to $728.00 and set a "buy" rating on the stock in a research report on Friday, August 21st. Seventeen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, Deere & Company presently has an average rating of "Moderate Buy" and an average price target of $688.10.

Deere & Company Company Profile

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