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Williams Jones Wealth Management LLC. Sells 29 Shares of Deere & Company (NYSE:DE)

Williams Jones Wealth Management LLC. lowered its stake in Deere & Company (NYSE:DEGet Rating) by 0.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,417 shares of the industrial products company’s stock after selling 29 shares during the quarter. Williams Jones Wealth Management LLC.’s holdings in Deere & Company were worth $6,821,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. JGP Wealth Management LLC increased its holdings in shares of Deere & Company by 2.4% during the first quarter. JGP Wealth Management LLC now owns 1,127 shares of the industrial products company’s stock valued at $471,000 after acquiring an additional 26 shares in the last quarter. Highland Private Wealth Management boosted its position in shares of Deere & Company by 2.6% during the first quarter. Highland Private Wealth Management now owns 1,067 shares of the industrial products company’s stock valued at $444,000 after buying an additional 27 shares during the last quarter. Pinnacle Associates Ltd. boosted its position in shares of Deere & Company by 1.0% during the first quarter. Pinnacle Associates Ltd. now owns 2,728 shares of the industrial products company’s stock valued at $1,133,000 after buying an additional 27 shares during the last quarter. Wilbanks Smith & Thomas Asset Management LLC boosted its position in shares of Deere & Company by 0.7% during the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 3,761 shares of the industrial products company’s stock valued at $1,465,000 after buying an additional 27 shares during the last quarter. Finally, Eagle Strategies LLC boosted its position in shares of Deere & Company by 2.1% during the first quarter. Eagle Strategies LLC now owns 1,381 shares of the industrial products company’s stock valued at $574,000 after buying an additional 28 shares during the last quarter. Institutional investors own 75.34% of the company’s stock.

Deere & Company Stock Up 1.0 %

Shares of DE opened at $372.25 on Friday. The business’s 50 day moving average is $340.74 and its 200 day moving average is $363.23. The company has a market capitalization of $112.35 billion, a PE ratio of 18.60, a price-to-earnings-growth ratio of 1.27 and a beta of 1.06. Deere & Company has a 12-month low of $283.81 and a 12-month high of $446.76. The company has a current ratio of 1.97, a quick ratio of 1.68 and a debt-to-equity ratio of 1.69.

Deere & Company (NYSE:DEGet Rating) last issued its earnings results on Friday, August 19th. The industrial products company reported $6.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.61 by ($0.45). The business had revenue of $13 billion for the quarter, compared to the consensus estimate of $12.84 billion. Deere & Company had a net margin of 12.75% and a return on equity of 33.26%. The firm’s revenue for the quarter was up 24.8% compared to the same quarter last year. During the same period last year, the business posted $5.32 EPS. Research analysts expect that Deere & Company will post 22.94 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 8th. Shareholders of record on Friday, September 30th will be paid a $1.13 dividend. This represents a $4.52 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Thursday, September 29th. Deere & Company’s payout ratio is 22.59%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Barclays dropped their price objective on Deere & Company from $415.00 to $400.00 and set an “overweight” rating on the stock in a research report on Monday, May 23rd. Citigroup increased their price objective on Deere & Company from $340.00 to $425.00 and gave the company a “buy” rating in a research report on Tuesday, August 23rd. Credit Suisse Group raised their target price on Deere & Company from $393.00 to $447.00 and gave the stock an “outperform” rating in a research report on Monday, August 22nd. Evercore ISI raised their target price on Deere & Company from $416.00 to $439.00 in a research report on Monday, August 22nd. Finally, Robert W. Baird dropped their target price on Deere & Company from $487.00 to $442.00 and set an “outperform” rating on the stock in a research report on Sunday, May 22nd. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $407.68.

About Deere & Company

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Deere & Company manufactures and distributes 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 mid-size tractors, combines, cotton pickers and strippers, sugarcane harvesters, harvesting front-end equipment, sugarcane loaders, 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.

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