DB Fitzpatrick & Co Inc Sells 124 Shares of Deere & Company $DE

DB Fitzpatrick & Co Inc cut its stake in shares of Deere & Company (NYSE:DE) by 3.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,528 shares of the industrial products company’s stock after selling 124 shares during the period. Deere & Company accounts for 1.6% of DB Fitzpatrick & Co Inc’s holdings, making the stock its 10th largest position. DB Fitzpatrick & Co Inc’s holdings in Deere & Company were worth $1,794,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in DE. Brighton Jones LLC boosted its position in shares of Deere & Company by 39.1% in the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock valued at $1,927,000 after acquiring an additional 1,278 shares during the period. GTS Securities LLC raised its stake in Deere & Company by 982.1% in the 4th quarter. GTS Securities LLC now owns 1,579 shares of the industrial products company’s stock worth $669,000 after purchasing an additional 1,758 shares in the last quarter. Great Valley Advisor Group Inc. boosted its holdings in Deere & Company by 19.9% in the 4th quarter. Great Valley Advisor Group Inc. now owns 6,699 shares of the industrial products company’s stock valued at $2,839,000 after purchasing an additional 1,112 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Deere & Company in the 4th quarter valued at about $149,057,000. Finally, BridgePort Financial Solutions LLC acquired a new position in shares of Deere & Company during the 4th quarter worth approximately $184,000. Institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on DE shares. Wall Street Zen upgraded Deere & Company from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. DA Davidson cut their target price on Deere & Company from $595.00 to $580.00 and set a “buy” rating for the company in a research report on Monday, August 18th. Melius Research upgraded Deere & Company from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 6th. Melius raised shares of Deere & Company from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. Finally, Truist Financial decreased their target price on shares of Deere & Company from $619.00 to $602.00 and set a “buy” rating on the stock in a report on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $517.27.

Deere & Company Stock Up 0.5%

DE stock opened at $471.57 on Wednesday. The firm has a 50-day moving average price of $491.82 and a 200-day moving average price of $490.03. Deere & Company has a 12 month low of $387.03 and a 12 month high of $533.78. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. The stock has a market capitalization of $127.48 billion, a P/E ratio of 24.65, a price-to-earnings-growth ratio of 3.02 and a beta of 1.00.

Deere & Company (NYSE:DE) last announced its quarterly 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 company had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The firm’s revenue was down 9.0% on a year-over-year basis. During the same period in the previous year, the firm posted $6.29 EPS. As a group, equities research analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be paid a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Deere & Company’s dividend payout ratio is presently 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.