Deere & Company (NYSE:DE) Shares Sold by Saxon Interests Inc.

Saxon Interests Inc. cut its stake in shares of Deere & Company (NYSE:DE) by 11.8% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 1,126 shares of the industrial products company’s stock after selling 151 shares during the period. Saxon Interests Inc.’s holdings in Deere & Company were worth $470,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in DE. True Wealth Design LLC raised its position in Deere & Company by 1,180.0% during the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 59 shares during the period. Fairscale Capital LLC acquired a new position in Deere & Company during the second quarter worth $26,000. Pineridge Advisors LLC raised its position in Deere & Company by 725.0% during the first 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 period. Livelsberger Financial Advisory acquired a new position in Deere & Company during the fourth quarter worth $30,000. Finally, Spartan Planning & Wealth Management acquired a new position in Deere & Company during the fourth quarter worth $33,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on DE shares. BMO Capital Markets started coverage on shares of Deere & Company in a report on Friday, August 9th. They issued a “market perform” rating and a $400.00 price objective for the company. Truist Financial reaffirmed a “buy” rating and set a $443.00 target price (up previously from $439.00) on shares of Deere & Company in a research note on Friday, August 16th. Hsbc Global Res lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Evercore ISI increased their target price on shares of Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research note on Monday, August 19th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $410.50.

Deere & Company Stock Up 0.9 %

NYSE:DE traded up $3.41 during mid-day trading on Wednesday, hitting $403.69. The stock had a trading volume of 169,672 shares, compared to its average volume of 1,489,197. The stock has a 50-day simple moving average of $384.24 and a two-hundred day simple moving average of $385.16. The company has a market capitalization of $111.24 billion, a PE ratio of 12.05, a PEG ratio of 1.36 and a beta of 0.92. Deere & Company has a twelve month low of $340.20 and a twelve month high of $420.47. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85.

Deere & Company (NYSE:DE) last issued 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. The firm had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The firm’s revenue was down 20.3% compared to the same quarter last year. During the same quarter last year, the company earned $10.20 earnings per share. On average, equities research analysts anticipate that Deere & Company will post 25.03 EPS for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be issued a $1.47 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 annualized dividend and a yield of 1.46%. Deere & Company’s dividend payout ratio (DPR) 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.