Pallas Capital Advisors LLC Reduces Position in Deere & Company (NYSE:DE)

Pallas Capital Advisors LLC decreased its position in Deere & Company (NYSE:DE) by 52.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,856 shares of the industrial products company’s stock after selling 3,145 shares during the period. Pallas Capital Advisors LLC’s holdings in Deere & Company were worth $1,174,000 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 the company. Vanguard Group Inc. grew its position in shares of Deere & Company by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock worth $9,031,500,000 after buying an additional 263,709 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Deere & Company by 0.5% in the first quarter. Janus Henderson Group PLC now owns 3,859,021 shares of the industrial products company’s stock worth $1,585,028,000 after acquiring an additional 19,200 shares during the period. Legal & General Group Plc boosted its holdings in Deere & Company by 2.7% in the second quarter. Legal & General Group Plc now owns 2,254,266 shares of the industrial products company’s stock valued at $842,259,000 after acquiring an additional 60,255 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Deere & Company by 15.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock valued at $802,037,000 after purchasing an additional 279,627 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in Deere & Company by 8.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,470,159 shares of the industrial products company’s stock worth $603,854,000 after purchasing an additional 114,116 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Trading Down 1.5 %

Shares of NYSE DE opened at $406.04 on Wednesday. The firm’s 50 day moving average price is $399.35 and its 200-day moving average price is $385.23. Deere & Company has a 52-week low of $340.20 and a 52-week high of $420.47. 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 company has a market cap of $111.89 billion, a PE ratio of 12.22, a P/E/G ratio of 1.35 and a beta of 0.92.

Deere & Company (NYSE:DE) last announced its quarterly earnings data 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. 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 during the quarter, compared to analyst estimates of $10.94 billion. During the same period in the previous year, the business earned $10.20 EPS. The firm’s revenue for the quarter was down 20.3% on a year-over-year basis. On average, equities research analysts expect that Deere & Company will post 25.03 EPS for the current fiscal year.

Deere & Company Announces Dividend

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. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.45%. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on DE. Citigroup lifted their target price on shares of Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Evercore ISI lifted their price objective on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research report on Monday, August 19th. Hsbc Global Res lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. BMO Capital Markets began coverage on Deere & Company in a research report on Friday, August 9th. They set a “market perform” rating and a $400.00 price target on the stock. Finally, Bank of America upped their price target on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Deere & Company has a consensus 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.