Vista Investment Partners LLC Reduces Stake in Deere & Company (NYSE:DE)

Vista Investment Partners LLC cut its position in shares of Deere & Company (NYSE:DE) by 79.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,600 shares of the industrial products company’s stock after selling 6,350 shares during the quarter. Vista Investment Partners LLC’s holdings in Deere & Company were worth $668,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Fairscale Capital LLC purchased a new stake in shares of Deere & Company in the second quarter valued at about $26,000. Pineridge Advisors LLC lifted its stake in Deere & Company by 725.0% in the 1st 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 in the last quarter. Olistico Wealth LLC acquired a new stake in Deere & Company during the 2nd quarter valued at $37,000. Centennial Bank AR raised its holdings in shares of Deere & Company by 420.0% in the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 84 shares during the last quarter. Finally, Financial Synergies Wealth Advisors Inc. raised its holdings in shares of Deere & Company by 2,500.0% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 104 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 100 shares during the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Price Performance

DE stock opened at $405.27 on Friday. The firm has a market cap of $111.68 billion, a P/E ratio of 12.20, a price-to-earnings-growth 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 has a 1 year low of $340.20 and a 1 year high of $420.47. The stock has a 50-day simple moving average of $391.78 and a 200-day simple moving average of $385.50.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $10.94 billion. During the same quarter last year, the company earned $10.20 earnings per share. Deere & Company’s revenue for the quarter was down 20.3% on a year-over-year basis. On average, equities 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 disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders 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 yield of 1.45%. Deere & Company’s dividend payout ratio is currently 17.70%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on DE shares. Hsbc Global Res cut Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Citigroup boosted their price objective on shares of Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Raymond James initiated coverage on shares of Deere & Company in a research report on Friday, June 28th. They set an “outperform” rating and a $420.00 target price on the stock. JPMorgan Chase & Co. boosted their price target on Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a report on Friday, October 11th. Finally, Truist Financial raised their price objective on Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Twelve equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $420.69.

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.