Sweet Financial Partners LLC Sells 885 Shares of Deere & Company (NYSE:DE)

Sweet Financial Partners LLC lowered its position in Deere & Company (NYSE:DE) by 28.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,232 shares of the industrial products company’s stock after selling 885 shares during the quarter. Sweet Financial Partners LLC’s holdings in Deere & Company were worth $931,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Centaurus Financial Inc. raised its position in Deere & Company by 2.3% in the second quarter. Centaurus Financial Inc. now owns 1,160 shares of the industrial products company’s stock worth $433,000 after acquiring an additional 26 shares during the period. Cornell Pochily Investment Advisors Inc. raised its holdings in Deere & Company by 0.7% in the 3rd quarter. Cornell Pochily Investment Advisors Inc. now owns 3,495 shares of the industrial products company’s stock worth $1,459,000 after purchasing an additional 26 shares during the period. Field & Main Bank raised its holdings in Deere & Company by 0.7% in the 1st quarter. Field & Main Bank now owns 4,050 shares of the industrial products company’s stock worth $1,663,000 after purchasing an additional 27 shares during the period. Range Financial Group LLC lifted its position in Deere & Company by 5.2% during the first quarter. Range Financial Group LLC now owns 548 shares of the industrial products company’s stock valued at $225,000 after purchasing an additional 27 shares in the last quarter. Finally, Cooper Financial Group grew its holdings in Deere & Company by 2.4% during the first quarter. Cooper Financial Group now owns 1,146 shares of the industrial products company’s stock valued at $471,000 after purchasing an additional 27 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of Deere & Company stock opened at $405.27 on Friday. The firm has a market cap of $111.68 billion, a PE ratio of 12.20, a PEG ratio of 1.35 and a beta of 0.92. The stock has a 50 day moving average of $391.78 and a 200 day moving average of $385.50. 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 has a 12 month low of $340.20 and a 12 month high of $420.47.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The firm had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. During the same period in the prior year, the company earned $10.20 EPS. The company’s quarterly revenue was down 20.3% compared to the same quarter last year. On average, research analysts expect that Deere & Company will post 25.03 EPS for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.45%. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on DE shares. Deutsche Bank Aktiengesellschaft lowered their price objective on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. HSBC downgraded shares of Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Oppenheimer reduced their price objective on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. JPMorgan Chase & Co. lifted their target price on shares of Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a research note on Friday, October 11th. Finally, Truist Financial increased their price target on Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $420.69.

Deere & Company Profile

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.