Richwood Investment Advisors LLC Sells 60 Shares of Deere & Company (NYSE:DE)

Richwood Investment Advisors LLC lowered its position in shares of Deere & Company (NYSE:DE) by 3.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,594 shares of the industrial products company’s stock after selling 60 shares during the period. Richwood Investment Advisors LLC’s holdings in Deere & Company were worth $665,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of DE. Fairscale Capital LLC bought a new stake in shares of Deere & Company during the second quarter worth about $26,000. Pineridge Advisors LLC boosted its position in Deere & Company by 725.0% during the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after buying an additional 58 shares during the period. Olistico Wealth LLC bought a new stake in Deere & Company during the 2nd quarter worth approximately $37,000. Centennial Bank AR increased its position in Deere & Company by 420.0% in the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 84 shares during the period. Finally, Financial Synergies Wealth Advisors Inc. raised its stake in shares of Deere & Company by 2,500.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 104 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Down 0.1 %

Shares of NYSE DE traded down $0.26 during trading on Tuesday, hitting $407.46. 295,654 shares of the company traded hands, compared to its average volume of 1,474,836. The firm has a market capitalization of $112.28 billion, a price-to-earnings ratio of 12.27, a P/E/G ratio of 1.35 and a beta of 0.92. The business’s fifty day moving average is $388.27 and its 200 day moving average is $385.25. 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 has a fifty-two week low of $340.20 and a fifty-two week high of $420.47.

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

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date is Monday, September 30th. Deere & Company’s dividend payout ratio is currently 17.70%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on DE. Raymond James initiated coverage on shares of Deere & Company in a research note on Friday, June 28th. They issued an “outperform” rating and a $420.00 price objective on the stock. Oppenheimer reduced their price target on Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Bank of America raised their price objective on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Deutsche Bank Aktiengesellschaft cut their price objective on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Finally, Hsbc Global Res downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $420.69.

Deere & Company 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.