Global Strategic Investment Solutions LLC Decreases Stock Holdings in Deere & Company (NYSE:DE)

by · The Markets Daily

Global Strategic Investment Solutions LLC cut its stake in Deere & Company (NYSE:DE – Free Report) by 8.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 992 shares of the industrial products company’s stock after selling 95 shares during the period. Global Strategic Investment Solutions LLC’s holdings in Deere & Company were worth $414,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of DE. Fairscale Capital LLC purchased a new stake in shares of Deere & Company during the 2nd quarter worth approximately $26,000. Pineridge Advisors LLC increased its stake in shares of Deere & Company by 725.0% during 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 period. Livelsberger Financial Advisory purchased a new position in shares of Deere & Company during the 3rd quarter worth approximately $32,000. Olistico Wealth LLC purchased a new stake in shares of Deere & Company during the 2nd quarter worth $37,000. Finally, Centennial Bank AR grew its position in 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 buying an additional 84 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Price Performance

Shares of DE stock traded up $5.59 during trading hours on Thursday, hitting $411.30. 152,815 shares of the company’s stock were exchanged, compared to its average volume of 1,430,997. Deere & Company has a 52 week low of $340.20 and a 52 week high of $420.47. The stock has a market cap of $112.53 billion, a price-to-earnings ratio of 13.89, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87. The stock’s 50-day moving average is $402.27 and its 200-day moving average is $385.56.

Deere & Company (NYSE:DE – Get Free Report) last issued its quarterly earnings data 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. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The firm had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. During the same quarter in the prior year, the firm earned $10.20 EPS. The company’s revenue was down 20.3% on a year-over-year basis. As a group, research analysts forecast that Deere & Company will post 25 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. Shareholders of record on Monday, September 30th will be given a $1.47 dividend. The ex-dividend date is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.43%. Deere & Company’s payout ratio is 20.06%.

Wall Street Analyst Weigh In

DE has been the subject of a number of research reports. BMO Capital Markets initiated coverage on shares of Deere & Company in a research report on Friday, August 9th. They set a “market perform” rating and a $400.00 target price for the company. Morgan Stanley lowered their price objective on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. Bank of America lifted their price target on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. Truist Financial upped their target price on Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Citigroup lifted their price target on shares of Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Deere & Company presently has a consensus rating of “Hold” and a consensus price target of $420.69.

Read Our Latest Analysis on DE

Deere & Company Profile

(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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