Heartwood Wealth Advisors LLC Cuts Stake in Deere & Company (NYSE:DE)

Heartwood Wealth Advisors LLC decreased its holdings in Deere & Company (NYSE:DE) by 25.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 813 shares of the industrial products company’s stock after selling 275 shares during the quarter. Heartwood Wealth Advisors LLC’s holdings in Deere & Company were worth $339,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC raised its holdings in shares of Deere & Company by 1,180.0% in the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after buying an additional 59 shares during the last quarter. Pineridge Advisors LLC raised its stake in Deere & Company by 725.0% in the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 58 shares during the last quarter. Fairscale Capital LLC acquired a new stake in Deere & Company during the 2nd quarter worth about $26,000. Livelsberger Financial Advisory purchased a new stake in Deere & Company during the 4th quarter valued at about $30,000. Finally, Spartan Planning & Wealth Management acquired a new position in shares of Deere & Company in the fourth quarter valued at about $33,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $406.04 on Tuesday. The firm has a market cap of $111.89 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 1.36 and a beta of 0.92. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. Deere & Company has a 52 week low of $340.20 and a 52 week high of $420.47. The business’s fifty day simple moving average is $383.08 and its 200-day simple moving average is $385.09.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, beating the consensus estimate of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The firm had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. During the same quarter last year, the firm earned $10.20 EPS. The firm’s revenue for the quarter was down 20.3% on a year-over-year basis. Equities analysts forecast that Deere & Company will post 25.03 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be paid a dividend of $1.47 per share. The ex-dividend date is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.45%. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DE. JPMorgan Chase & Co. reduced their target price on shares of Deere & Company from $375.00 to $360.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft lowered their price target on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. HSBC lowered Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. BMO Capital Markets assumed coverage on shares of Deere & Company in a report on Friday, August 9th. They set a “market perform” rating and a $400.00 target price for the company. Finally, Oppenheimer decreased their price target on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Deere & Company has a consensus rating of “Hold” and an average price target of $410.50.

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.