TCI Wealth Advisors Inc. Decreases Stock Position in Deere & Company (NYSE:DE)

by · The Markets Daily

TCI Wealth Advisors Inc. lessened its stake in shares of Deere & Company (NYSE:DE – Free Report) by 8.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,286 shares of the industrial products company’s stock after selling 115 shares during the period. TCI Wealth Advisors Inc.’s holdings in Deere & Company were worth $537,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Fairscale Capital LLC acquired a new position in Deere & Company in the 2nd quarter worth approximately $26,000. Pineridge Advisors LLC boosted its holdings in shares of Deere & Company by 725.0% during the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 58 shares during the last quarter. Livelsberger Financial Advisory acquired a new stake in shares of Deere & Company in the 3rd quarter worth $32,000. Olistico Wealth LLC acquired a new stake in Deere & Company in the 2nd quarter valued at approximately $37,000. Finally, Centennial Bank AR lifted its position in shares of Deere & Company by 420.0% during 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. Institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DE. HSBC downgraded shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Citigroup boosted their target price on shares of Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft reduced their price target on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Truist Financial lifted their price target on shares of Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a report on Friday, October 11th. Twelve equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Deere & Company currently has an average rating of “Hold” and an average target price of $420.69.

Check Out Our Latest Analysis on Deere & Company

Deere & Company Trading Up 0.3 %

NYSE DE traded up $1.37 during trading hours on Monday, hitting $409.30. The company’s stock had a trading volume of 159,635 shares, compared to its average volume of 1,447,563. Deere & Company has a twelve month low of $340.20 and a twelve month high of $420.47. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The firm has a market capitalization of $112.79 billion, a P/E ratio of 12.32, a PEG ratio of 1.35 and a beta of 0.92. The stock has a fifty day moving average of $397.89 and a 200 day moving average of $385.17.

Deere & Company (NYSE:DE – Get Free Report) last announced 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. The company had revenue of $11.39 billion during the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The firm’s revenue was down 20.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $10.20 EPS. Equities research analysts forecast that Deere & Company will post 25.03 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared 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 of this dividend is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.44%. Deere & Company’s dividend payout ratio (DPR) is 17.70%.

About Deere & Company

(Free Report)

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.

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