Mount Yale Investment Advisors LLC Cuts Position in Deere & Company (NYSE:DE)

Mount Yale Investment Advisors LLC lowered its position in Deere & Company (NYSE:DE) by 1.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,927 shares of the industrial products company’s stock after selling 38 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Deere & Company were worth $720,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Frank Rimerman Advisors LLC raised its stake in Deere & Company by 14,566.7% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 3,960 shares of the industrial products company’s stock worth $1,480,000 after acquiring an additional 3,933 shares in the last quarter. Holderness Investments Co. increased its stake in Deere & Company by 7.5% in the 2nd quarter. Holderness Investments Co. now owns 2,398 shares of the industrial products company’s stock valued at $896,000 after buying an additional 168 shares during the period. ProShare Advisors LLC raised its position in Deere & Company by 6.0% during the 2nd quarter. ProShare Advisors LLC now owns 36,191 shares of the industrial products company’s stock worth $13,522,000 after buying an additional 2,034 shares during the last quarter. Alaethes Wealth LLC lifted its stake in shares of Deere & Company by 3.2% in the 2nd quarter. Alaethes Wealth LLC now owns 4,087 shares of the industrial products company’s stock worth $1,533,000 after acquiring an additional 128 shares during the period. Finally, Transatlantique Private Wealth LLC boosted its holdings in shares of Deere & Company by 7.8% in the second quarter. Transatlantique Private Wealth LLC now owns 4,755 shares of the industrial products company’s stock valued at $1,742,000 after acquiring an additional 343 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on DE shares. HSBC downgraded shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Bank of America lifted their price target on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. JPMorgan Chase & Co. dropped their price objective on Deere & Company from $375.00 to $360.00 and set a “neutral” rating on the stock in a report on Tuesday, August 13th. Raymond James initiated coverage on Deere & Company in a report on Friday, June 28th. They issued an “outperform” rating and a $420.00 target price for the company. Finally, Hsbc Global Res lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Thirteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $410.50.

Deere & Company Stock Performance

Deere & Company stock opened at $408.83 on Tuesday. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $417.46. The company has a market capitalization of $112.66 billion, a price-to-earnings ratio of 12.31, a PEG ratio of 1.29 and a beta of 0.92. The stock has a fifty day moving average of $376.98 and a two-hundred day moving average of $383.12. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. The firm had revenue of $11.39 billion during the quarter, compared to analysts’ expectations of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The firm’s quarterly revenue was down 20.3% compared to the same quarter last year. During the same quarter last year, the business posted $10.20 EPS. On average, analysts anticipate that Deere & Company will post 25.07 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s payout ratio is 17.70%.

About Deere & Company

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.