1,213 Deere & Company $DE Shares Sold by Retirement Planning Group LLC

Retirement Planning Group LLC lowered its stake in shares of Deere & Company (NYSE:DE) by 26.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,459 shares of the industrial products company’s stock after selling 1,213 shares during the period. Retirement Planning Group LLC’s holdings in Deere & Company were worth $2,323,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Deere & Company in the second quarter valued at about $11,763,504,000. Wellington Management Group LLP lifted its position in shares of Deere & Company by 84.3% during the 2nd quarter. Wellington Management Group LLP now owns 3,088,628 shares of the industrial products company’s stock valued at $1,959,209,000 after acquiring an additional 1,412,694 shares during the period. Bank of America Corp DE lifted its position in shares of Deere & Company by 0.3% during the 1st quarter. Bank of America Corp DE now owns 2,782,402 shares of the industrial products company’s stock valued at $1,567,327,000 after acquiring an additional 7,918 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Deere & Company during the 2nd quarter worth approximately $1,259,279,000. Finally, Legal & General Group Plc purchased a new stake in shares of Deere & Company during the 2nd quarter worth approximately $957,456,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Performance

NYSE:DE opened at $632.44 on Wednesday. The company has a current ratio of 2.10, a quick ratio of 1.89 and a debt-to-equity ratio of 1.45. The firm has a 50-day moving average price of $658.72 and a two-hundred day moving average price of $613.10. Deere & Company has a twelve month low of $454.50 and a twelve month high of $721.22. The company has a market capitalization of $170.52 billion, a P/E ratio of 35.14, a price-to-earnings-growth ratio of 2.29 and a beta of 0.86.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.69 by $0.41. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The company had revenue of $12.61 billion during the quarter, compared to analysts’ expectations of $10.81 billion. During the same quarter in the previous year, the business posted $4.75 earnings per share. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. As a group, research analysts expect that Deere & Company will post 18.11 earnings per share for the current fiscal 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 paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, September 30th. Deere & Company’s dividend payout ratio (DPR) is 36.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on DE shares. UBS Group lowered their price target on Deere & Company from $732.00 to $728.00 and set a “buy” rating on the stock in a report on Friday, August 21st. JPMorgan Chase & Co. lifted their price objective on Deere & Company from $585.00 to $625.00 and gave the stock a “neutral” rating in a report on Thursday, October 8th. Raymond James Financial lifted their price objective on Deere & Company from $700.00 to $730.00 and gave the stock an “outperform” rating in a report on Monday, August 31st. Wall Street Zen downgraded Deere & Company from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. Finally, Citigroup upped their target price on Deere & Company from $610.00 to $650.00 and gave the company a “neutral” rating in a report on Friday, August 21st. Seventeen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Deere & Company presently has an average rating of “Moderate Buy” and an average price target 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.