Deere & Company (NYSE:DE) Position Decreased by Spring Capital Management LLC

Spring Capital Management LLC lessened its holdings in shares of Deere & Company (NYSE:DE) by 1.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,514 shares of the industrial products company’s stock after selling 276 shares during the quarter. Deere & Company makes up 5.7% of Spring Capital Management LLC’s portfolio, making the stock its 6th largest holding. Spring Capital Management LLC’s holdings in Deere & Company were worth $7,726,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Commerzbank Aktiengesellschaft FI lifted its stake in shares of Deere & Company by 54.5% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 30,470 shares of the industrial products company’s stock valued at $12,716,000 after buying an additional 10,748 shares in the last quarter. Mainsail Financial Group LLC increased its holdings in Deere & Company by 13.0% in the 3rd quarter. Mainsail Financial Group LLC now owns 3,432 shares of the industrial products company’s stock valued at $1,392,000 after acquiring an additional 395 shares during the last quarter. Segment Wealth Management LLC increased its holdings in Deere & Company by 267.1% in the 3rd quarter. Segment Wealth Management LLC now owns 2,155 shares of the industrial products company’s stock valued at $899,000 after acquiring an additional 1,568 shares during the last quarter. BLB&B Advisors LLC increased its holdings in Deere & Company by 2.0% in the 3rd quarter. BLB&B Advisors LLC now owns 27,303 shares of the industrial products company’s stock valued at $11,394,000 after acquiring an additional 528 shares during the last quarter. Finally, Pictet North America Advisors SA bought a new stake in Deere & Company in the 3rd quarter valued at $209,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. Citigroup lifted their price target on shares of Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Hsbc Global Res downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Raymond James assumed coverage on shares of Deere & Company in a report on Friday, June 28th. They issued an “outperform” rating and a $420.00 price target on the stock. Finally, BMO Capital Markets assumed coverage on shares of Deere & Company in a report on Friday, August 9th. They issued a “market perform” rating and a $400.00 target price on the stock. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Deere & Company has an average rating of “Hold” and an average price target of $420.69.

Deere & Company Trading Up 0.8 %

Shares of DE stock traded up $3.35 during trading hours on Wednesday, reaching $410.00. 51,375 shares of the stock were exchanged, compared to its average volume of 1,456,403. Deere & Company has a 12-month low of $340.20 and a 12-month high of $420.47. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. The company’s 50-day moving average price is $395.40 and its 200-day moving average price is $385.21. The firm has a market capitalization of $112.98 billion, a price-to-earnings ratio of 12.24, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92.

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, beating the consensus estimate of $5.63 by $0.66. The company 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%. The firm’s quarterly revenue was down 20.3% on a year-over-year basis. During the same period in the previous year, the company earned $10.20 EPS. As a group, equities analysts anticipate that Deere & Company will post 25.03 earnings per share for the current year.

Deere & Company Dividend Announcement

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

Deere & 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.