Deere & Company $DE Shares Sold by Kanawha Capital Management LLC

Kanawha Capital Management LLC cut its position in shares of Deere & Company (NYSE:DE) by 1.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,951 shares of the industrial products company’s stock after selling 223 shares during the quarter. Kanawha Capital Management LLC’s holdings in Deere & Company were worth $7,602,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Activest Wealth Management boosted its position in shares of Deere & Company by 2,750.0% in the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock worth $27,000 after buying an additional 55 shares during the period. Hughes Financial Services LLC purchased a new stake in shares of Deere & Company in the first quarter worth about $29,000. Cornerstone Planning Group LLC boosted its position in shares of Deere & Company by 116.1% in the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock worth $31,000 after buying an additional 36 shares during the period. Marshall & Sullivan Inc. WA purchased a new stake in shares of Deere & Company in the second quarter worth about $38,000. Finally, Livelsberger Financial Advisory purchased a new stake in shares of Deere & Company in the second quarter worth about $39,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Trading Up 0.3%

Shares of DE opened at $458.63 on Friday. The company has a market capitalization of $123.98 billion, a P/E ratio of 23.97, a P/E/G ratio of 2.94 and a beta of 1.02. Deere & Company has a one year low of $387.03 and a one year high of $533.78. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. The stock has a 50-day moving average price of $473.24 and a 200 day moving average price of $487.48.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating analysts’ consensus estimates of $4.62 by $0.13. The firm had revenue of $10.36 billion during the quarter, compared to the consensus estimate 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 prior year, the business posted $6.29 earnings per share. Sell-side analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on DE shares. Wall Street Zen raised Deere & Company from a “sell” rating to a “hold” rating in a research report on Saturday, October 4th. Truist Financial upped their target price on Deere & Company from $602.00 to $609.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Oppenheimer decreased their target price on Deere & Company from $566.00 to $512.00 and set an “outperform” rating for the company in a research report on Thursday, September 18th. Citigroup decreased their target price on Deere & Company from $525.00 to $515.00 and set a “neutral” rating for the company in a research report on Tuesday, October 7th. Finally, Jefferies Financial Group decreased their target price on Deere & Company from $510.00 to $440.00 and set a “hold” rating for the company in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Deere & Company has an average rating of “Moderate Buy” and an average price target of $517.35.

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.