Deere & Company $DE Shares Sold by ERn Financial LLC

ERn Financial LLC lowered its holdings in shares of Deere & Company (NYSE:DE) by 41.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,036 shares of the industrial products company’s stock after selling 1,421 shares during the period. ERn Financial LLC’s holdings in Deere & Company were worth $1,035,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Deere & Company by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 22,063,590 shares of the industrial products company’s stock valued at $10,355,546,000 after purchasing an additional 185,671 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Deere & Company by 4.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock valued at $3,227,258,000 after acquiring an additional 286,253 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Deere & Company by 2.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,815,817 shares of the industrial products company’s stock valued at $852,254,000 after acquiring an additional 35,075 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Deere & Company by 1.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,549,048 shares of the industrial products company’s stock valued at $727,046,000 after acquiring an additional 25,725 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in Deere & Company by 23.4% during the 1st quarter. Invesco Ltd. now owns 1,353,255 shares of the industrial products company’s stock valued at $635,150,000 after acquiring an additional 256,806 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Deere & Company stock opened at $463.93 on Monday. Deere & Company has a 12-month low of $387.03 and a 12-month high of $533.78. The stock has a market capitalization of $125.41 billion, a P/E ratio of 24.25, a P/E/G ratio of 2.99 and a beta of 1.00. The firm’s 50-day moving average is $489.67 and its two-hundred day moving average is $489.95. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98.

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

Deere & Company Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have weighed in on DE shares. Truist Financial dropped their target price on shares of Deere & Company from $619.00 to $602.00 and set a “buy” rating for the company in a report on Friday, August 15th. Melius upgraded shares of Deere & Company from a “hold” rating to a “buy” rating in a report on Friday, June 6th. Evercore ISI set a $491.00 price target on shares of Deere & Company in a research note on Tuesday, August 19th. JPMorgan Chase & Co. decreased their price target on shares of Deere & Company from $500.00 to $495.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 2nd. Finally, Wall Street Zen cut shares of Deere & Company from a “hold” rating to a “sell” rating in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, Deere & Company has an average rating of “Moderate Buy” and an average price target of $518.06.

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.