Deere & Company (NYSE:DE) Shares Sold by Brookstone Capital Management

Brookstone Capital Management lessened its stake in shares of Deere & Company (NYSE:DE) by 2.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,968 shares of the industrial products company’s stock after selling 135 shares during the quarter. Brookstone Capital Management’s holdings in Deere & Company were worth $2,073,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of DE. Swedbank AB acquired a new stake in Deere & Company during the 1st quarter valued at $191,628,000. Mawer Investment Management Ltd. purchased a new position in shares of Deere & Company during the 2nd quarter worth $166,937,000. Dimensional Fund Advisors LP lifted its stake in shares of Deere & Company by 15.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock worth $802,037,000 after purchasing an additional 279,627 shares during the period. Vanguard Group Inc. lifted its stake in shares of Deere & Company by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock worth $9,031,500,000 after purchasing an additional 263,709 shares during the period. Finally, Strategic Financial Concepts LLC lifted its stake in shares of Deere & Company by 28,306.5% during the 2nd quarter. Strategic Financial Concepts LLC now owns 249,977 shares of the industrial products company’s stock worth $934,000 after purchasing an additional 249,097 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Up 1.3 %

Shares of NYSE DE opened at $411.11 on Friday. Deere & Company has a 12-month low of $340.20 and a 12-month high of $420.47. The company has a market cap of $113.29 billion, a P/E ratio of 12.38, a P/E/G ratio of 1.35 and a beta of 0.92. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. The stock has a fifty day moving average price of $387.01 and a 200 day moving average price of $385.53.

Deere & Company (NYSE:DE) 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. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The firm had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. During the same period in the prior year, the firm earned $10.20 EPS. The firm’s quarterly revenue was down 20.3% compared to the same quarter last year. Research analysts anticipate that Deere & Company will post 25.03 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors 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 yield of 1.43%. Deere & Company’s dividend payout ratio is currently 17.70%.

Analysts Set New Price Targets

A number of brokerages have weighed in on DE. 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 note on Thursday, August 8th. JPMorgan Chase & Co. increased their price target on Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a research note on Friday. BMO Capital Markets began coverage on Deere & Company in a research note on Friday, August 9th. They set a “market perform” rating and a $400.00 price target on the stock. HSBC lowered Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Finally, Citigroup increased their price target on Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a research note on Wednesday. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $420.69.

Deere & Company Profile

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.