Arete Wealth Advisors LLC Lowers Stake in Deere & Company (NYSE:DE)

Arete Wealth Advisors LLC lessened its stake in Deere & Company (NYSE:DE - Free Report) by 35.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,143 shares of the industrial products company's stock after selling 1,187 shares during the quarter. Arete Wealth Advisors LLC's holdings in Deere & Company were worth $893,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its position in shares of Deere & Company by 32.0% in the third quarter. Wellington Management Group LLP now owns 7,352,465 shares of the industrial products company's stock valued at $3,068,404,000 after buying an additional 1,782,984 shares during the last quarter. Geode Capital Management LLC boosted its position in Deere & Company by 0.6% during the third quarter. Geode Capital Management LLC now owns 5,208,368 shares of the industrial products company's stock worth $2,168,737,000 after acquiring an additional 31,459 shares during the last quarter. FMR LLC grew its stake in Deere & Company by 27.8% during the 3rd quarter. FMR LLC now owns 4,542,013 shares of the industrial products company's stock valued at $1,895,518,000 after acquiring an additional 988,380 shares in the last quarter. Legal & General Group Plc raised its holdings in Deere & Company by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 2,254,266 shares of the industrial products company's stock valued at $842,259,000 after acquiring an additional 60,255 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Deere & Company by 15.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company's stock worth $802,037,000 after purchasing an additional 279,627 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Price Performance

DE stock traded down $8.55 during trading on Thursday, reaching $439.48. 867,049 shares of the company were exchanged, compared to its average volume of 1,441,555. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.90 and a current ratio of 2.09. The stock's 50 day moving average price is $419.35 and its 200 day moving average price is $391.72. Deere & Company has a 52-week low of $340.20 and a 52-week high of $469.39. The company has a market cap of $120.24 billion, a P/E ratio of 17.21, a PEG ratio of 1.90 and a beta of 0.96.

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

Deere & Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date is Tuesday, December 31st. This is a boost from Deere & Company's previous quarterly dividend of $1.47. Deere & Company's dividend payout ratio is 25.31%.

Analyst Upgrades and Downgrades

Several research firms recently commented on DE. 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. Truist Financial raised their target price on Deere & Company from $496.00 to $538.00 and gave the stock a "buy" rating in a research note on Friday, November 22nd. HSBC cut shares of Deere & Company from a "buy" rating to a "hold" rating in a research report on Monday, August 19th. Barclays upped their price objective on shares of Deere & Company from $400.00 to $475.00 and gave the company an "overweight" rating in a report on Friday, November 22nd. Finally, Hsbc Global Res downgraded shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 19th. Thirteen analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $443.28.

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.