MAI Capital Management Sells 3,086 Shares of Deere & Company (NYSE:DE)

MAI Capital Management reduced its position in Deere & Company (NYSE:DE - Free Report) by 19.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,174 shares of the industrial products company's stock after selling 3,086 shares during the quarter. MAI Capital Management's holdings in Deere & Company were worth $5,498,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Fairscale Capital LLC acquired a new stake in Deere & Company during the 2nd quarter worth about $26,000. Pineridge Advisors LLC increased its holdings in Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company's stock worth $27,000 after purchasing an additional 58 shares in the last quarter. Livelsberger Financial Advisory acquired a new position in Deere & Company in the third quarter valued at approximately $32,000. Olistico Wealth LLC bought a new position in shares of Deere & Company during the 2nd quarter worth approximately $37,000. Finally, Centennial Bank AR grew its position in shares of Deere & Company by 420.0% during the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company's stock worth $39,000 after buying an additional 84 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Down 1.1 %

Deere & Company stock opened at $400.13 on Wednesday. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $420.47. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. The firm's 50-day simple moving average is $404.63 and its 200 day simple moving average is $385.69. The stock has a market cap of $109.47 billion, a PE ratio of 13.65, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders 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 dividend yield of 1.47%. Deere & Company's payout ratio is presently 20.06%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on DE shares. Morgan Stanley cut their target price on shares of Deere & Company from $450.00 to $425.00 and set an "overweight" rating on the stock in a research note on Monday, August 26th. Citigroup raised their target price on Deere & Company from $395.00 to $420.00 and gave the company a "neutral" rating in a research note on Wednesday, October 9th. BMO Capital Markets initiated coverage on Deere & Company in a research note on Friday, August 9th. They set a "market perform" rating and a $400.00 price target on the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on Deere & Company from $402.00 to $389.00 and set a "hold" rating for the company in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. upped their target price on Deere & Company from $360.00 to $420.00 and gave the stock a "neutral" rating in a research report on Friday, October 11th. Twelve equities 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 stock has a consensus rating of "Hold" and a consensus target price of $420.69.

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.