Brown Lisle Cummings Inc. Trims Holdings in Deere & Company (NYSE:DE)

Brown Lisle Cummings Inc. lowered its position in shares of Deere & Company (NYSE:DE) by 0.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,286 shares of the industrial products company’s stock after selling 35 shares during the quarter. Brown Lisle Cummings Inc.’s holdings in Deere & Company were worth $1,789,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fairscale Capital LLC acquired a new position in Deere & Company in the second quarter valued at $26,000. Pineridge Advisors LLC boosted its position in shares of 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 acquiring an additional 58 shares during the last quarter. Olistico Wealth LLC acquired a new position in Deere & Company during the second quarter worth approximately $37,000. Centennial Bank AR boosted its holdings in shares of Deere & Company by 420.0% in the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 84 shares during the last quarter. Finally, Financial Synergies Wealth Advisors Inc. boosted its holdings in Deere & Company by 2,500.0% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 104 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 100 shares during the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on DE. Oppenheimer cut their price objective on Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Truist Financial increased their price target on Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. HSBC lowered Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Morgan Stanley dropped their price objective 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. Finally, Bank of America upped their target price 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. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Deere & Company has a consensus rating of “Hold” and a consensus price target of $420.69.

Deere & Company Trading Up 0.9 %

Shares of NYSE DE opened at $408.73 on Monday. The company has a market cap of $112.63 billion, a price-to-earnings ratio of 12.30, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92. The stock’s 50 day simple moving average is $393.03 and its 200 day simple moving average is $385.26. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. Deere & Company has a 12-month low of $340.20 and a 12-month high of $420.47.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. The company had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. Deere & Company’s revenue was down 20.3% on a year-over-year basis. During the same period in the previous year, the firm earned $10.20 EPS. Equities research analysts expect that Deere & Company will post 25.03 EPS for the current year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be issued a $1.47 dividend. The ex-dividend date is Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.44%. Deere & Company’s dividend payout ratio (DPR) is 17.70%.

About Deere & Company

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.