Gilman Hill Asset Management LLC Sells 55 Shares of Deere & Company (NYSE:DE)

Gilman Hill Asset Management LLC trimmed its holdings in Deere & Company (NYSE:DE) by 2.2% in the 3rd quarter, Holdings Channel reports. The fund owned 2,442 shares of the industrial products company’s stock after selling 55 shares during the quarter. Gilman Hill Asset Management LLC’s holdings in Deere & Company were worth $1,019,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of DE. Oppenheimer Asset Management Inc. raised its holdings in Deere & Company by 20.5% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock valued at $5,906,000 after acquiring an additional 2,692 shares in the last quarter. Harbor Investment Advisory LLC raised its stake in shares of Deere & Company by 27.4% in the first quarter. Harbor Investment Advisory LLC now owns 1,730 shares of the industrial products company’s stock valued at $710,000 after purchasing an additional 372 shares in the last quarter. Aviance Capital Partners LLC bought a new position in Deere & Company in the first quarter worth $2,783,000. Range Financial Group LLC boosted its stake 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 worth $225,000 after buying an additional 27 shares in the last quarter. Finally, Northwest Bank & Trust Co bought a new stake in Deere & Company in the 4th quarter valued at $1,074,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on DE shares. Bank of America lifted their target price on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. Hsbc Global Res lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Deutsche Bank Aktiengesellschaft cut their target price on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. HSBC cut Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Finally, Morgan Stanley dropped their price objective on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $420.69.

Deere & Company Price Performance

Shares of NYSE DE traded up $5.32 during trading on Friday, reaching $411.08. The company had a trading volume of 653,446 shares, compared to its average volume of 1,483,328. Deere & Company has a 52 week low of $340.20 and a 52 week high of $420.47. The business’s 50 day moving average price is $387.01 and its 200-day moving average price is $385.44. The stock has a market cap of $113.28 billion, a PE ratio of 12.37, a PEG ratio of 1.35 and a beta of 0.92. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping 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 analyst estimates of $10.94 billion. During the same period last year, the company earned $10.20 earnings per share. The company’s revenue was down 20.3% on a year-over-year basis. Analysts expect that Deere & Company will post 25.03 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is currently 17.70%.

About Deere & Company

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.