Deere & Company $DE Stock: TD Waterhouse Canada Inc. Decreases Position

TD Waterhouse Canada Inc. lessened its stake in Deere & Company (NYSE:DE) by 63.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,593 shares of the industrial products company’s stock after selling 58,998 shares during the period. TD Waterhouse Canada Inc.’s holdings in Deere & Company were worth $23,079,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of DE. Banque Pictet & Cie SA increased its stake in Deere & Company by 1.2% in the 3rd quarter. Banque Pictet & Cie SA now owns 78,879 shares of the industrial products company’s stock worth $52,971,000 after purchasing an additional 900 shares during the period. Cyndeo Wealth Partners LLC bought a new stake in Deere & Company in the third quarter valued at approximately $340,000. Aspiriant LLC lifted its position in Deere & Company by 6.3% in the third quarter. Aspiriant LLC now owns 1,226 shares of the industrial products company’s stock valued at $823,000 after purchasing an additional 73 shares during the last quarter. Shelton Wealth Management LLC boosted its stake in shares of Deere & Company by 12.8% during the third quarter. Shelton Wealth Management LLC now owns 3,155 shares of the industrial products company’s stock valued at $2,119,000 after purchasing an additional 358 shares during the period. Finally, Annex Advisory Services LLC boosted its stake in shares of Deere & Company by 1.5% during the third quarter. Annex Advisory Services LLC now owns 59,109 shares of the industrial products company’s stock valued at $39,694,000 after purchasing an additional 890 shares during the period. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Down 1.4%

NYSE DE opened at $641.46 on Friday. Deere & Company has a 1 year low of $454.50 and a 1 year high of $721.22. The stock has a market capitalization of $172.95 billion, a PE ratio of 35.64, a PEG ratio of 2.35 and a beta of 0.86. The company has a debt-to-equity ratio of 1.45, a current ratio of 2.10 and a quick ratio of 1.89. The business’s 50-day moving average is $658.05 and its 200 day moving average is $611.83.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 EPS for the quarter, beating analysts’ consensus estimates of $4.69 by $0.41. The business had revenue of $12.61 billion during the quarter, compared to analyst estimates of $10.81 billion. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%. Deere & Company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.75 EPS. Sell-side analysts forecast that Deere & Company will post 18.11 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 9th. Stockholders of record on Wednesday, September 30th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Wednesday, September 30th. Deere & Company’s dividend payout ratio (DPR) is currently 36.00%.

Analyst Ratings Changes

Several brokerages have recently issued reports on DE. Seaport Research Partners set a $570.00 target price on shares of Deere & Company in a report on Friday, August 14th. Oppenheimer upped their price target on shares of Deere & Company from $680.00 to $685.00 and gave the company an “outperform” rating in a report on Thursday, August 20th. Raymond James Financial upped their price target on shares of Deere & Company from $700.00 to $730.00 and gave the company an “outperform” rating in a report on Monday, August 31st. DA Davidson increased their price target on shares of Deere & Company from $685.00 to $760.00 and gave the company a “buy” rating in a research report on Monday, August 24th. Finally, Nomura raised shares of Deere & Company to a “buy” rating in a report on Monday, August 31st. Seventeen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, Deere & Company has a consensus rating of “Moderate Buy” and a consensus target price of $688.10.

About Deere & Company

Deere & Company, founded by blacksmith John Deere in 1837, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. The company is headquartered in Moline, Illinois, and operates under the John Deere brand.

Its products include tractors, combines, planters, sprayers, harvesting equipment, loaders, excavators, motor graders, forestry machines, mowers and compact utility equipment. Deere also provides replacement parts, equipment support, financing and technology-enabled solutions designed to improve machine productivity, automation and precision in farming and other industries.

Deere serves customers through dealerships and operations across North America, Latin America, Europe and other international markets.