Prudent Man Advisors LLC Cuts Stock Holdings in Deere & Company $DE

Prudent Man Advisors LLC decreased its stake in shares of Deere & Company (NYSE:DE) by 10.6% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,741 shares of the industrial products company’s stock after selling 206 shares during the period. Prudent Man Advisors LLC’s holdings in Deere & Company were worth $885,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Mid American Wealth Advisory Group Inc. purchased a new position in shares of Deere & Company during the second quarter valued at approximately $25,000. Activest Wealth Management boosted 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 valued at $27,000 after buying an additional 55 shares during the last quarter. Hughes Financial Services LLC purchased a new position in shares of Deere & Company during the first quarter valued at approximately $29,000. Cornerstone Planning Group LLC boosted 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 valued at $31,000 after buying an additional 36 shares during the last quarter. Finally, Marshall & Sullivan Inc. WA purchased a new position in shares of Deere & Company during the second quarter valued at approximately $38,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Robert W. Baird cut their target price on Deere & Company from $488.00 to $467.00 and set a “neutral” rating on the stock in a research report on Monday, October 13th. JPMorgan Chase & Co. dropped their price target on Deere & Company from $495.00 to $480.00 and set a “neutral” rating on the stock in a report on Tuesday, October 14th. DA Davidson dropped their price target on Deere & Company from $595.00 to $580.00 and set a “buy” rating on the stock in a report on Monday, August 18th. Zacks Research lowered Deere & Company from a “hold” rating to a “strong sell” rating in a report on Monday, October 20th. Finally, UBS Group set a $535.00 price target on Deere & Company and gave the stock a “buy” rating in a report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $518.72.

Deere & Company Stock Performance

Shares of DE opened at $473.01 on Friday. The firm has a market cap of $127.87 billion, a PE ratio of 24.73, a PEG ratio of 3.04 and a beta of 1.02. The stock’s fifty day moving average price is $469.88 and its two-hundred day moving average price is $489.02. 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.

Deere & Company (NYSE:DE) last issued its earnings results 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 analyst estimates of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The business’s revenue was down 9.0% on a year-over-year basis. During the same period in the previous year, the company posted $6.29 earnings per share. On average, equities research analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently announced 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 payout ratio is presently 33.87%.

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.