Mizuho Securities USA LLC Reduces Stock Position in Deere & Company (NYSE:DE)

Mizuho Securities USA LLC reduced its holdings in Deere & Company (NYSE:DE - Free Report) by 6.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,654 shares of the industrial products company's stock after selling 1,311 shares during the period. Mizuho Securities USA LLC's holdings in Deere & Company were worth $7,785,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Linscomb Wealth Inc. raised its holdings in shares of Deere & Company by 6.9% in the 3rd quarter. Linscomb Wealth Inc. now owns 816 shares of the industrial products company's stock valued at $340,000 after purchasing an additional 53 shares in the last quarter. Northcape Wealth Management LLC boosted its holdings in shares of Deere & Company by 1.3% in the 3rd quarter. Northcape Wealth Management LLC now owns 7,560 shares of the industrial products company's stock valued at $3,155,000 after acquiring an additional 97 shares during the last quarter. Gouws Capital LLC boosted its holdings in shares of Deere & Company by 2.5% in the 3rd quarter. Gouws Capital LLC now owns 13,499 shares of the industrial products company's stock valued at $5,634,000 after acquiring an additional 335 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Deere & Company by 69.8% in the 3rd quarter. Empowered Funds LLC now owns 14,020 shares of the industrial products company's stock valued at $5,851,000 after purchasing an additional 5,764 shares during the period. Finally, Empirical Finance LLC lifted its stake in shares of Deere & Company by 1.9% in the 3rd quarter. Empirical Finance LLC now owns 9,303 shares of the industrial products company's stock valued at $3,882,000 after purchasing an additional 170 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DE has been the subject of a number of research analyst reports. Hsbc Global Res cut shares of Deere & Company from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 19th. Evercore ISI increased their target price on shares of Deere & Company from $371.00 to $378.00 and gave the stock an "in-line" rating in a research note on Monday, August 19th. Bank of America raised their price objective on shares of Deere & Company from $400.00 to $410.00 and gave the company a "neutral" rating in a research note on Friday, August 16th. JPMorgan Chase & Co. raised their price objective on shares of Deere & Company from $360.00 to $420.00 and gave the company a "neutral" rating in a research note on Friday, October 11th. Finally, BMO Capital Markets initiated coverage on shares of Deere & Company in a report on Friday, August 9th. They issued a "market perform" rating and a $400.00 target price on the stock. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Deere & Company has an average rating of "Hold" and an average price target of $420.69.

Deere & Company Stock Up 1.1 %

NYSE DE traded up $4.31 during trading hours on Friday, hitting $398.95. 1,168,176 shares of the company traded hands, compared to its average volume of 1,015,799. Deere & Company has a twelve month low of $340.20 and a twelve month high of $420.47. The stock has a market capitalization of $109.15 billion, a price-to-earnings ratio of 13.61, a P/E/G ratio of 1.52 and a beta of 0.93. The business's 50-day moving average is $404.03 and its 200-day moving average is $385.65. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The company had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. During the same quarter last year, the company posted $10.20 EPS. The company's revenue for the quarter was down 20.3% compared to the same quarter last year. Sell-side analysts anticipate that Deere & Company will post 25 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend was Monday, September 30th. Deere & Company's dividend payout ratio is 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.