Tradition Wealth Management LLC Cuts Stake in Deere & Company (NYSE:DE)

Tradition Wealth Management LLC lessened its holdings in shares of Deere & Company (NYSE:DE) by 25.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,780 shares of the industrial products company’s stock after selling 602 shares during the quarter. Tradition Wealth Management LLC’s holdings in Deere & Company were worth $743,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Edgestream Partners L.P. increased its position in Deere & Company by 2,068.3% during the third quarter. Edgestream Partners L.P. now owns 12,533 shares of the industrial products company’s stock worth $5,230,000 after purchasing an additional 11,955 shares during the last quarter. NCM Capital Management LLC purchased a new stake in Deere & Company during the 3rd quarter worth approximately $204,000. Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of Deere & Company in the third quarter valued at $27,961,000. Circle Wealth Management LLC purchased a new position in shares of Deere & Company in the 3rd quarter valued at about $382,000. Finally, Captrust Financial Advisors lifted its stake in Deere & Company by 2.7% in the third quarter. Captrust Financial Advisors now owns 155,184 shares of the industrial products company’s stock worth $64,763,000 after acquiring an additional 4,051 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

DE has been the topic of several research analyst reports. Oppenheimer lifted their price target on shares of Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Hsbc Global Res lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. JPMorgan Chase & Co. upped their price objective on shares of Deere & Company from $420.00 to $450.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Bank of America lifted their target price on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a report on Friday, August 16th. Finally, Citigroup increased their price target on shares of Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Twelve investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $436.41.

Deere & Company Stock Performance

NYSE DE opened at $465.90 on Monday. The company has a quick ratio of 1.90, a current ratio of 2.09 and a debt-to-equity ratio of 1.89. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $469.39. The business has a fifty day moving average of $413.25 and a 200-day moving average of $388.13. The stock has a market cap of $127.47 billion, a price-to-earnings ratio of 18.20, a price-to-earnings-growth ratio of 1.99 and a beta of 0.93.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating the consensus estimate of $3.90 by $0.65. Deere & Company had a net margin of 13.73% and a return on equity of 31.32%. The firm had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.20 billion. During the same quarter in the previous year, the company posted $8.26 EPS. The firm’s revenue for the quarter was down 32.8% on a year-over-year basis. As a group, analysts predict that Deere & Company will post 19.52 earnings per share for the current fiscal year.

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.