Liberty One Investment Management LLC Cuts Position in Deere & Company $DE

Liberty One Investment Management LLC lessened its holdings in Deere & Company (NYSE:DE) by 7.1% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,558 shares of the industrial products company’s stock after selling 807 shares during the period. Liberty One Investment Management LLC’s holdings in Deere & Company were worth $5,369,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. OLD National Bancorp IN boosted its stake in shares of Deere & Company by 2.6% in the 2nd quarter. OLD National Bancorp IN now owns 24,000 shares of the industrial products company’s stock worth $12,204,000 after buying an additional 610 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its stake in Deere & Company by 10.7% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company’s stock valued at $3,863,000 after purchasing an additional 798 shares during the last quarter. Providence Capital Advisors LLC lifted its stake in Deere & Company by 2.1% in the first quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company’s stock valued at $6,871,000 after purchasing an additional 303 shares during the last quarter. Bragg Financial Advisors Inc lifted its stake in Deere & Company by 12.7% in the first 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. purchased a new position in Deere & Company in the first quarter valued at approximately $13,588,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Deere & Company in a research note on Wednesday, October 8th. DA Davidson dropped their price objective on Deere & Company from $595.00 to $580.00 and set a “buy” rating on the stock in a research note on Monday, August 18th. UBS Group set a $535.00 price objective on Deere & Company and gave the company a “buy” rating in a research note on Friday. Robert W. Baird dropped their price objective on Deere & Company from $488.00 to $467.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. Finally, Citigroup dropped their price objective on Deere & Company from $525.00 to $515.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, Deere & Company currently has an average rating of “Moderate Buy” and a consensus price target of $517.35.

Deere & Company Trading Up 0.9%

Shares of DE stock opened at $462.67 on Tuesday. The company’s fifty day simple moving average is $472.35 and its two-hundred day simple moving average is $488.11. 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 has a 1 year low of $387.03 and a 1 year high of $533.78. The stock has a market capitalization of $125.07 billion, a price-to-earnings ratio of 24.19, a PEG ratio of 2.95 and a beta of 1.02.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter in the previous year, the firm posted $6.29 EPS. The business’s revenue for the quarter was down 9.0% compared to the same quarter last year. As a group, analysts anticipate that Deere & Company will post 19.32 earnings per share for the current 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 issued 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 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.