IFP Advisors Inc Sells 173 Shares of Deere & Company $DE

IFP Advisors Inc trimmed its holdings in shares of Deere & Company (NYSE:DE) by 5.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,157 shares of the industrial products company’s stock after selling 173 shares during the period. IFP Advisors Inc’s holdings in Deere & Company were worth $1,717,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in DE. Nuveen LLC bought a new stake in shares of Deere & Company during the 1st quarter worth $571,073,000. Voya Investment Management LLC raised its stake in shares of Deere & Company by 97.1% during the 1st quarter. Voya Investment Management LLC now owns 733,871 shares of the industrial products company’s stock worth $344,442,000 after purchasing an additional 361,526 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Deere & Company by 4.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock worth $3,227,258,000 after purchasing an additional 286,253 shares during the period. Invesco Ltd. raised its stake in shares of Deere & Company by 23.4% during the 1st quarter. Invesco Ltd. now owns 1,353,255 shares of the industrial products company’s stock worth $635,150,000 after purchasing an additional 256,806 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of Deere & Company by 874.8% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 243,914 shares of the industrial products company’s stock worth $124,028,000 after purchasing an additional 218,893 shares during the period. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Down 2.1%

DE stock opened at $446.76 on Friday. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76. The firm has a market capitalization of $120.77 billion, a PE ratio of 23.35, a PEG ratio of 2.87 and a beta of 1.02. Deere & Company has a twelve month low of $387.03 and a twelve month high of $533.78. The stock has a 50-day simple moving average of $479.15 and a two-hundred day simple moving average of $488.39.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, topping the consensus estimate of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The company had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. During the same quarter in the previous year, the firm earned $6.29 earnings per share. Deere & Company’s revenue was down 9.0% on a year-over-year basis. On average, equities analysts predict that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.5%. Deere & Company’s payout ratio is presently 33.87%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on DE shares. DA Davidson lowered their price objective on Deere & Company from $595.00 to $580.00 and set a “buy” rating on the stock in a research note on Monday, August 18th. Citigroup lowered their price objective on Deere & Company from $525.00 to $515.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 7th. Evercore ISI set a $491.00 price objective on Deere & Company in a research note on Tuesday, August 19th. Truist Financial boosted their price objective on Deere & Company from $602.00 to $609.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Oppenheimer lowered their price objective on Deere & Company from $566.00 to $512.00 and set an “outperform” rating on the stock in a research note on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Deere & Company has a consensus rating of “Moderate Buy” and an average target price of $513.88.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.