Congress Asset Management Co. Has $833,000 Stock Position in Deere & Company $DE

Congress Asset Management Co. reduced its position in Deere & Company (NYSE:DE) by 2.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,639 shares of the industrial products company’s stock after selling 44 shares during the quarter. Congress Asset Management Co.’s holdings in Deere & Company were worth $833,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Assenagon Asset Management S.A. grew its position in Deere & Company by 58.9% in the first quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company’s stock valued at $6,395,000 after acquiring an additional 5,053 shares during the period. OVERSEA CHINESE BANKING Corp Ltd grew its holdings in shares of Deere & Company by 10.7% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company’s stock worth $3,863,000 after purchasing an additional 798 shares during the last quarter. Providence Capital Advisors LLC increased its position in shares of Deere & Company by 2.1% during the 1st quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company’s stock worth $6,871,000 after purchasing an additional 303 shares in the last quarter. Bragg Financial Advisors Inc lifted its holdings in Deere & Company by 12.7% during the 1st quarter. Bragg Financial Advisors Inc now owns 7,213 shares of the industrial products company’s stock valued at $3,386,000 after purchasing an additional 813 shares during the last quarter. Finally, ASR Vermogensbeheer N.V. bought a new position in Deere & Company during the 1st quarter valued at about $13,588,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Melius raised Deere & Company from a “hold” rating to a “buy” rating in a report on Friday, June 6th. Wall Street Zen lowered Deere & Company from a “hold” rating to a “sell” rating in a research note on Friday. DA Davidson reduced their price target on shares of Deere & Company from $595.00 to $580.00 and set a “buy” rating on the stock in a research report on Monday, August 18th. JPMorgan Chase & Co. lowered their price objective on shares of Deere & Company from $500.00 to $495.00 and set a “neutral” rating for the company in a research report on Tuesday, September 2nd. Finally, Robert W. Baird reduced their target price on shares of Deere & Company from $520.00 to $488.00 and set a “neutral” rating on the stock in a research report on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $518.06.

Deere & Company Trading Down 0.6%

Shares of NYSE DE opened at $463.93 on Friday. Deere & Company has a twelve month low of $387.03 and a twelve month high of $533.78. The stock has a market cap of $125.41 billion, a price-to-earnings ratio of 24.25, a P/E/G ratio of 2.99 and a beta of 1.00. 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 fifty day moving average is $489.67 and its 200-day moving average is $489.78.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, beating the consensus estimate of $4.62 by $0.13. The business had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.Deere & Company’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.29 EPS. Equities research analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 annualized dividend and a yield of 1.4%. Deere & Company’s dividend payout ratio is 33.87%.

Deere & 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.