Deere & Company (NYSE:DE) Shares Sold by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC cut its holdings in Deere & Company (NYSE:DE) by 42.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,228 shares of the industrial products company’s stock after selling 5,246 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Deere & Company were worth $3,016,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. OneAscent Financial Services LLC acquired a new position in shares of Deere & Company during the third quarter worth about $1,476,000. OneAscent Wealth Management LLC purchased a new position in shares of Deere & Company during the 3rd quarter worth approximately $221,000. Nixon Peabody Trust Co. lifted its holdings in shares of Deere & Company by 0.6% in the 3rd quarter. Nixon Peabody Trust Co. now owns 33,996 shares of the industrial products company’s stock valued at $14,188,000 after buying an additional 219 shares during the period. MidAtlantic Capital Management Inc. purchased a new stake in shares of Deere & Company in the third quarter valued at approximately $376,000. Finally, First Western Trust Bank grew its holdings in Deere & Company by 9.1% during the third quarter. First Western Trust Bank now owns 716 shares of the industrial products company’s stock worth $299,000 after acquiring an additional 60 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

Deere & Company stock opened at $404.63 on Tuesday. The stock has a fifty day moving average price of $404.38 and a 200 day moving average price of $385.70. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. Deere & Company has a 52 week low of $340.20 and a 52 week high of $420.47. The firm has a market capitalization of $110.71 billion, a P/E ratio of 13.81, a PEG ratio of 1.52 and a beta of 0.93.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were issued a dividend of $1.47 per share. The ex-dividend date was Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.45%. Deere & Company’s payout ratio is currently 20.06%.

Analyst Ratings Changes

Several brokerages have commented on DE. Morgan Stanley decreased their target price on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Truist Financial increased their target price on shares of Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Bank of America boosted their price target on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. Deutsche Bank Aktiengesellschaft dropped their price objective on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Finally, Oppenheimer decreased their target price on Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $420.69.

Deere & Company 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.