Deere & Company (NYSE:DE) Shares Sold by Pingora Partners LLC

Pingora Partners LLC lowered its position in shares of Deere & Company (NYSE:DE) by 28.6% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 250 shares of the industrial products company’s stock after selling 100 shares during the quarter. Pingora Partners LLC’s holdings in Deere & Company were worth $104,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Stockbridge Partners LLC boosted its position in Deere & Company by 157.5% during the 3rd quarter. Stockbridge Partners LLC now owns 884,237 shares of the industrial products company’s stock worth $369,019,000 after purchasing an additional 540,874 shares during the period. Oppenheimer Asset Management Inc. boosted its position in shares of Deere & Company by 20.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock worth $5,906,000 after buying an additional 2,692 shares during the period. Chase Investment Counsel Corp grew its stake in shares of Deere & Company by 53.8% in the third quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock valued at $1,669,000 after buying an additional 1,400 shares in the last quarter. Balentine LLC purchased a new stake in shares of Deere & Company during the 3rd quarter valued at about $710,000. Finally, Captrust Financial Advisors lifted its position in Deere & Company by 2.7% during the 3rd quarter. Captrust Financial Advisors now owns 155,184 shares of the industrial products company’s stock worth $64,763,000 after acquiring an additional 4,051 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

NYSE DE opened at $459.27 on Wednesday. The company has a 50-day moving average price of $415.29 and a two-hundred day moving average price of $389.04. Deere & Company has a 52 week low of $340.20 and a 52 week high of $469.39. The stock has a market cap of $125.66 billion, a price-to-earnings ratio of 17.94, a price-to-earnings-growth ratio of 1.98 and a beta of 0.96. The company has a current ratio of 2.09, a quick ratio of 1.90 and a debt-to-equity ratio of 1.89.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating the consensus estimate of $3.89 by $0.66. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. The firm had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.20 billion. During the same quarter in the previous year, the business earned $8.26 EPS. The firm’s revenue for the quarter was down 32.8% on a year-over-year basis. Analysts forecast that Deere & Company will post 19.52 EPS for the current year.

Deere & Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.41%. This is an increase from Deere & Company’s previous quarterly dividend of $1.47. Deere & Company’s payout ratio is 22.97%.

Wall Street Analysts Forecast Growth

DE has been the subject of a number of recent analyst reports. UBS Group raised their price target on shares of Deere & Company from $404.00 to $462.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Truist Financial lifted their target price on Deere & Company from $496.00 to $538.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Bank of America increased their price target on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a report on Friday, August 16th. BMO Capital Markets initiated coverage on Deere & Company in a report on Friday, August 9th. They set a “market perform” rating and a $400.00 price objective on the stock. Finally, Barclays increased their target price on Deere & Company from $400.00 to $475.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Twelve investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $436.41.

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.