Wealthspan Partners LLC Sells 433 Shares of Deere & Company $DE

Wealthspan Partners LLC lessened its stake in Deere & Company (NYSE:DE) by 1.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,412 shares of the industrial products company’s stock after selling 433 shares during the period. Deere & Company accounts for about 6.0% of Wealthspan Partners LLC’s holdings, making the stock its 3rd biggest position. Wealthspan Partners LLC’s holdings in Deere & Company were worth $14,447,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC increased its position in Deere & Company by 39.1% during the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock worth $1,927,000 after purchasing an additional 1,278 shares during the period. GAMMA Investing LLC increased its position in Deere & Company by 30.6% during the 1st quarter. GAMMA Investing LLC now owns 3,735 shares of the industrial products company’s stock worth $1,753,000 after purchasing an additional 876 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in Deere & Company by 0.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 90,020 shares of the industrial products company’s stock worth $42,250,000 after purchasing an additional 826 shares during the period. Sowell Financial Services LLC acquired a new position in Deere & Company during the 1st quarter worth approximately $1,346,000. Finally, Grimes & Company Inc. acquired a new position in Deere & Company during the 1st quarter worth approximately $221,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Trading Up 0.1%

Shares of Deere & Company stock opened at $448.62 on Thursday. The firm has a market cap of $121.28 billion, a PE ratio of 23.45, a P/E/G ratio of 2.88 and a beta of 1.02. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76. The business’s fifty day moving average is $475.28 and its two-hundred day moving average is $487.71. Deere & Company has a fifty-two week low of $387.03 and a fifty-two week high of $533.78.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, topping the consensus estimate of $4.62 by $0.13. The business had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The business’s quarterly revenue was down 9.0% on a year-over-year basis. During the same period last year, the company posted $6.29 EPS. Analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Deere & Company’s dividend payout ratio (DPR) is 33.87%.

Wall Street Analyst Weigh In

Several research firms have issued reports on DE. Weiss Ratings reiterated a “hold (c+)” rating on shares of Deere & Company in a research report on Wednesday, October 8th. Wolfe Research dropped their target price on Deere & Company from $550.00 to $520.00 and set an “outperform” rating on the stock in a research report on Friday, October 3rd. Oppenheimer dropped their target price on Deere & Company from $566.00 to $512.00 and set an “outperform” rating on the stock in a research report on Thursday, September 18th. Wall Street Zen raised Deere & Company from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. Finally, DA Davidson decreased their price target on Deere & Company from $595.00 to $580.00 and set a “buy” rating on the stock in a research note on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, Deere & Company has an average rating of “Moderate Buy” and an average target price of $511.76.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.