Birchcreek Wealth Management LLC Sells 120 Shares of Deere & Company (NYSE:DE)

by · The Markets Daily

Birchcreek Wealth Management LLC cut its stake in Deere & Company (NYSE:DE – Free Report) by 19.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 484 shares of the industrial products company’s stock after selling 120 shares during the period. Birchcreek Wealth Management LLC’s holdings in Deere & Company were worth $202,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Fairscale Capital LLC acquired a new stake in Deere & Company during the 2nd quarter worth $26,000. Pineridge Advisors LLC increased its holdings in shares of 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 buying an additional 58 shares in the last quarter. Livelsberger Financial Advisory bought a new stake in Deere & Company during the third quarter valued at $32,000. Olistico Wealth LLC bought a new stake in Deere & Company during the second quarter valued at $37,000. Finally, Centennial Bank AR boosted its position in shares of Deere & Company by 420.0% during the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 84 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Trading Up 0.9 %

NYSE DE traded up $3.73 during trading hours on Friday, reaching $398.37. The company had a trading volume of 128,655 shares, compared to its average volume of 1,426,304. The stock has a market capitalization of $108.99 billion, a P/E ratio of 13.59, a price-to-earnings-growth ratio of 1.48 and a beta of 0.93. Deere & Company has a 1-year low of $340.20 and a 1-year 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. The stock has a 50-day moving average of $403.69 and a 200 day moving average of $385.70.

Deere & Company (NYSE:DE – Get Free Report) last announced its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS 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 company had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. During the same period in the prior year, the firm posted $10.20 earnings per share. The firm’s revenue was down 20.3% on a year-over-year basis. As a group, research analysts anticipate that Deere & Company will post 25 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 1.48%. The ex-dividend date was Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is presently 20.06%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on DE. Truist Financial upped their target price on shares of Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Citigroup raised their price target on shares of Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. lifted their target price on shares of Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a research report on Friday, October 11th. Oppenheimer cut their target price 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. Finally, Bank of America lifted their target price on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $420.69.

Get Our Latest Analysis on Deere & Company

Deere & Company Profile

(Free Report)

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.

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