Valley National Advisers Inc. Decreases Stake in Deere & Company (NYSE:DE)

Valley National Advisers Inc. cut its stake in shares of Deere & Company (NYSE:DE) by 1.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,729 shares of the industrial products company’s stock after selling 26 shares during the quarter. Valley National Advisers Inc.’s holdings in Deere & Company were worth $721,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DE. Pineridge Advisors LLC boosted its position in Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after buying an additional 58 shares during the last quarter. Fairscale Capital LLC purchased a new position in shares of Deere & Company during the second quarter worth $26,000. Livelsberger Financial Advisory acquired a new position in Deere & Company during the third quarter valued at $32,000. Olistico Wealth LLC purchased a new stake in Deere & Company in the second quarter valued at $37,000. Finally, Centennial Bank AR boosted its holdings in Deere & Company by 420.0% in the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 84 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft decreased their price objective on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a report on Thursday, August 8th. Evercore ISI upped their price objective on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research report on Monday, August 19th. Oppenheimer dropped their price objective 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. JPMorgan Chase & Co. upped their price objective 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. Finally, Citigroup upped their price target on Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $420.69.

Deere & Company Stock Performance

NYSE DE opened at $407.93 on Monday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. The stock’s fifty day moving average is $397.89 and its two-hundred day moving average is $385.17. The firm has a market capitalization of $112.41 billion, a P/E ratio of 12.28, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92. 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 released its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.63 by $0.66. The firm had revenue of $11.39 billion during the quarter, compared to analysts’ expectations of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. Deere & Company’s revenue was down 20.3% compared to the same quarter last year. During the same period last year, the business earned $10.20 earnings per share. On average, research analysts anticipate that Deere & Company will post 25.03 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be given a dividend of $1.47 per share. 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 payout ratio is 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.