Deere & Company $DE Position Lowered by Cidel Asset Management Inc.

Cidel Asset Management Inc. decreased its stake in shares of Deere & Company (NYSE:DE) by 2.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,053 shares of the industrial products company’s stock after selling 52 shares during the period. Cidel Asset Management Inc.’s holdings in Deere & Company were worth $1,044,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of DE. Activest Wealth Management lifted its position in shares of Deere & Company by 2,750.0% during the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 55 shares during the last quarter. Hughes Financial Services LLC bought a new position in shares of Deere & Company during the first quarter worth about $29,000. Cornerstone Planning Group LLC lifted its position in shares of Deere & Company by 116.1% during the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 36 shares during the last quarter. Marshall & Sullivan Inc. WA bought a new position in shares of Deere & Company during the second quarter worth about $38,000. Finally, Livelsberger Financial Advisory bought a new position in shares of Deere & Company during the second quarter worth about $39,000. Institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

DE has been the topic of several research reports. UBS Group set a $535.00 price objective on shares of Deere & Company and gave the stock a “buy” rating in a research note on Friday. Wolfe Research dropped their price objective on shares of Deere & Company from $550.00 to $520.00 and set an “outperform” rating on the stock in a research note on Friday, October 3rd. JPMorgan Chase & Co. dropped their price objective on shares of Deere & Company from $495.00 to $480.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 14th. Daiwa Capital Markets dropped their price objective on shares of Deere & Company from $565.00 to $530.00 and set an “outperform” rating on the stock in a research note on Thursday, September 25th. Finally, Wall Street Zen upgraded shares of Deere & Company from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, Deere & Company has a consensus rating of “Moderate Buy” and a consensus target price of $517.35.

Deere & Company Price Performance

Shares of NYSE:DE opened at $458.63 on Friday. The firm’s 50 day moving average is $473.24 and its two-hundred day moving average is $487.60. Deere & Company has a 52 week low of $387.03 and a 52 week high of $533.78. The firm has a market capitalization of $123.98 billion, a P/E ratio of 23.97, a PEG ratio of 2.95 and a beta of 1.02. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating the consensus estimate of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The company had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.33 billion. During the same quarter last year, the business earned $6.29 earnings per share. Deere & Company’s revenue was down 9.0% compared to the same quarter last year. Analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

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

About Deere & Company

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.