Advisors Asset Management Inc. Sells 4,025 Shares of Deere & Company (NYSE:DE)

Advisors Asset Management Inc. cut its stake in shares of Deere & Company (NYSE:DE - Free Report) by 16.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,821 shares of the industrial products company's stock after selling 4,025 shares during the period. Advisors Asset Management Inc.'s holdings in Deere & Company were worth $8,272,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Pineridge Advisors LLC raised its position in Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company's stock valued at $27,000 after purchasing an additional 58 shares during the period. Fairscale Capital LLC purchased a new stake in shares of Deere & Company during the second quarter worth about $26,000. Livelsberger Financial Advisory purchased a new stake in shares of Deere & Company during the third quarter worth about $32,000. Olistico Wealth LLC purchased a new stake in shares of Deere & Company during the second quarter worth about $37,000. Finally, Centennial Bank AR grew its stake in 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 purchasing an additional 84 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. BMO Capital Markets assumed coverage on Deere & Company in a research note on Friday, August 9th. They issued a "market perform" rating and a $400.00 target price for the company. JPMorgan Chase & Co. boosted their price objective on Deere & Company from $360.00 to $420.00 and gave the stock a "neutral" rating in a research report on Friday, October 11th. Morgan Stanley reduced their price objective on Deere & Company from $450.00 to $425.00 and set an "overweight" rating for the company in a research report on Monday, August 26th. Hsbc Global Res downgraded Deere & Company from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 19th. Finally, HSBC cut Deere & Company from a "buy" rating to a "hold" rating in a report on Monday, August 19th. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $420.69.

Deere & Company Trading Up 5.9 %

Shares of NYSE DE traded up $23.97 during midday trading on Thursday, reaching $428.93. 1,545,089 shares of the stock were exchanged, compared to its average volume of 1,430,804. The business has a 50-day simple moving average of $404.97 and a two-hundred day simple moving average of $385.83. The company has a market capitalization of $117.36 billion, a price-to-earnings ratio of 13.82, a P/E/G ratio of 1.54 and a beta of 0.93. Deere & Company has a 12 month low of $340.20 and a 12 month high of $432.77. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping the consensus estimate of $3.90 by $0.65. The firm had revenue of $9.28 billion for the quarter, compared to analysts' expectations of $9.20 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The company's revenue for the quarter was down 32.8% on a year-over-year basis. During the same period in the previous year, the firm posted $8.26 EPS. As a group, equities research analysts expect that Deere & Company will post 25 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were paid a $1.47 dividend. The ex-dividend date was Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.37%. Deere & Company's dividend payout ratio (DPR) is currently 20.06%.

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.