Patton Albertson Miller Group LLC Sells 108 Shares of Deere & Company $DE

Patton Albertson Miller Group LLC lowered its stake in shares of Deere & Company (NYSE:DE) by 3.0% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 3,440 shares of the industrial products company’s stock after selling 108 shares during the period. Patton Albertson Miller Group LLC’s holdings in Deere & Company were worth $1,749,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of DE. Tritonpoint Wealth LLC lifted its stake in shares of Deere & Company by 17.0% in the 2nd quarter. Tritonpoint Wealth LLC now owns 900 shares of the industrial products company’s stock worth $459,000 after purchasing an additional 131 shares during the period. Fort Washington Investment Advisors Inc. OH lifted its stake in shares of Deere & Company by 25.5% in the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 84,863 shares of the industrial products company’s stock worth $43,152,000 after purchasing an additional 17,234 shares during the period. Guyasuta Investment Advisors Inc. lifted its stake in shares of Deere & Company by 105.0% in the 2nd quarter. Guyasuta Investment Advisors Inc. now owns 4,997 shares of the industrial products company’s stock worth $2,541,000 after purchasing an additional 2,559 shares during the period. WD Rutherford LLC bought a new position in shares of Deere & Company in the 2nd quarter worth approximately $172,000. Finally, Stockman Wealth Management Inc. bought a new position in shares of Deere & Company in the 2nd quarter worth approximately $220,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Down 0.6%

Deere & Company stock opened at $463.93 on Friday. The stock has a market cap of $125.41 billion, a P/E ratio of 24.25, a PEG ratio of 2.99 and a beta of 1.00. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. Deere & Company has a 1 year low of $387.03 and a 1 year high of $533.78. The firm’s 50 day moving average price is $489.67 and its 200-day moving average price is $489.78.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.62 by $0.13. The firm had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The company’s revenue for the quarter was down 9.0% compared to the same quarter last year. During the same quarter last year, the business posted $6.29 earnings per share. On average, equities analysts predict that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. Deere & Company’s dividend payout ratio (DPR) is 33.87%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on DE shares. Oppenheimer lowered their price objective on shares of Deere & Company from $566.00 to $512.00 and set an “outperform” rating on the stock in a research note on Thursday, September 18th. Robert W. Baird decreased their target price on shares of Deere & Company from $520.00 to $488.00 and set a “neutral” rating on the stock in a research note on Friday, August 15th. DA Davidson decreased their target price on shares of Deere & Company from $595.00 to $580.00 and set a “buy” rating on the stock in a research note on Monday, August 18th. Melius Research upgraded shares of Deere & Company from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 6th. Finally, Evercore ISI set a $491.00 target price on shares of Deere & Company in a research note on Tuesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $518.06.

Deere & Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.