Bowen Hanes & Co. Inc. Sells 350 Shares of Deere & Company $DE

Bowen Hanes & Co. Inc. trimmed its holdings in Deere & Company (NYSE:DE) by 0.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 146,677 shares of the industrial products company’s stock after selling 350 shares during the quarter. Deere & Company accounts for 1.9% of Bowen Hanes & Co. Inc.’s portfolio, making the stock its 20th largest holding. Bowen Hanes & Co. Inc. owned approximately 0.05% of Deere & Company worth $74,584,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mid American Wealth Advisory Group Inc. acquired a new stake in Deere & Company in the 2nd quarter worth $25,000. Activest Wealth Management lifted its stake in shares of Deere & Company by 2,750.0% in 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 period. Marshall & Sullivan Inc. WA acquired a new stake in Deere & Company during the second quarter worth about $38,000. Center for Financial Planning Inc. increased its stake in Deere & Company by 406.7% during the second quarter. Center for Financial Planning Inc. now owns 76 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 61 shares during the period. Finally, Livelsberger Financial Advisory bought a new position in Deere & Company during the second quarter valued at about $39,000. Institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on DE. Zacks Research downgraded Deere & Company from a “hold” rating to a “strong sell” rating in a research report on Monday, October 20th. Citigroup reduced their target price on Deere & Company from $525.00 to $515.00 and set a “neutral” rating for the company in a research report on Tuesday, October 7th. Robert W. Baird decreased their price target on shares of Deere & Company from $488.00 to $467.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. Sanford C. Bernstein increased their price objective on shares of Deere & Company from $487.00 to $521.00 and gave the company a “market perform” rating in a research note on Thursday, November 13th. Finally, Oppenheimer reduced their price objective on shares of Deere & Company from $566.00 to $512.00 and set an “outperform” rating for the company in a report on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Deere & Company presently has an average rating of “Moderate Buy” and an average target price of $519.85.

Deere & Company Price Performance

NYSE:DE opened at $487.03 on Friday. The firm has a market cap of $131.66 billion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 3.05 and a beta of 1.04. Deere & Company has a 12 month low of $403.01 and a 12 month high of $533.78. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76. The company’s 50-day moving average price is $466.30 and its two-hundred day moving average price is $490.82.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th were paid a $1.62 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.3%. Deere & Company’s payout ratio is 33.87%.

Deere & Company 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.