Deere & Company $DE Stock: King Luther Capital Management Corp Reduces Stake

King Luther Capital Management Corp cut its holdings in Deere & Company (NYSE:DE) by 6.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,671 shares of the industrial products company’s stock after selling 1,293 shares during the quarter. King Luther Capital Management Corp’s holdings in Deere & Company were worth $13,210,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co boosted its stake in shares of Deere & Company by 3.2% in the 2nd quarter. SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co now owns 516 shares of the industrial products company’s stock valued at $308,000 after purchasing an additional 16 shares in the last quarter. Concorde Asset Management LLC grew its holdings in shares of Deere & Company by 3.0% during the 2nd quarter. Concorde Asset Management LLC now owns 581 shares of the industrial products company’s stock valued at $369,000 after purchasing an additional 17 shares during the last quarter. MCF Advisors LLC increased its position in Deere & Company by 0.9% during the 2nd quarter. MCF Advisors LLC now owns 1,999 shares of the industrial products company’s stock worth $1,271,000 after purchasing an additional 17 shares in the last quarter. XY Planning Network Inc. increased its position in Deere & Company by 2.3% during the 3rd quarter. XY Planning Network Inc. now owns 765 shares of the industrial products company’s stock worth $514,000 after purchasing an additional 17 shares in the last quarter. Finally, CRA Financial Services LLC lifted its stake in Deere & Company by 1.4% in the 3rd quarter. CRA Financial Services LLC now owns 1,224 shares of the industrial products company’s stock valued at $822,000 after purchasing an additional 17 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Deere & Company stock opened at $678.86 on Friday. The business has a 50 day moving average of $668.78 and a 200-day moving average of $611.46. The company has a market capitalization of $183.04 billion, a P/E ratio of 37.71, a P/E/G ratio of 1.96 and a beta of 0.89. Deere & Company has a 1 year low of $455.90 and a 1 year high of $721.22. The company has a debt-to-equity ratio of 1.45, a current ratio of 2.10 and a quick ratio of 1.89.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, August 20th. The industrial products company reported $5.10 EPS for the quarter, topping the consensus estimate of $4.69 by $0.41. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The business had revenue of $12.61 billion for the quarter, compared to the consensus estimate of $10.81 billion. During the same period last year, the company earned $4.75 EPS. The firm’s revenue was up 6.2% compared to the same quarter last year. On average, equities research analysts predict that Deere & Company will post 18.11 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 9th. Stockholders of record on Wednesday, September 30th were paid a dividend of $1.62 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.0%. Deere & Company’s dividend payout ratio (DPR) is presently 36.00%.

Analyst Ratings Changes

DE has been the topic of a number of research analyst reports. Seaport Research Partners set a $570.00 target price on shares of Deere & Company in a research report on Friday, August 14th. Robert W. Baird upgraded shares of Deere & Company from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $640.00 to $800.00 in a report on Monday, August 31st. Citigroup upped their price target on shares of Deere & Company from $610.00 to $650.00 and gave the stock a “neutral” rating in a report on Friday, August 21st. Nomura upgraded Deere & Company to a “buy” rating in a research note on Monday, August 31st. Finally, Barclays raised their price objective on Deere & Company from $640.00 to $675.00 and gave the company an “overweight” rating in a report on Monday, August 24th. Seventeen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Deere & Company has an average rating of “Moderate Buy” and a consensus target price of $688.10.

Deere & Company Profile

Deere & Company, commonly known as John Deere, manufactures and distributes equipment and technology for agriculture, construction, forestry, and lawn care. Its products include tractors, combines, planting and spraying equipment, construction machinery, forestry equipment, and turf-care products, along with related parts and services. The company also provides precision agriculture technologies designed to help customers monitor and manage equipment and field operations. Through its Financial Services business, Deere offers financing and leasing options for equipment and related products.