iA Global Asset Management Inc. Trims Stake in Deere & Company $DE

iA Global Asset Management Inc. lowered its stake in Deere & Company (NYSE:DE) by 2.5% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 20,320 shares of the industrial products company’s stock after selling 520 shares during the period. iA Global Asset Management Inc.’s holdings in Deere & Company were worth $10,333,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in DE. Brighton Jones LLC grew its stake in shares of Deere & Company by 39.1% in the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock worth $1,927,000 after buying an additional 1,278 shares during the last quarter. Teacher Retirement System of Texas grew its stake in shares of Deere & Company by 225.1% in the 1st quarter. Teacher Retirement System of Texas now owns 49,841 shares of the industrial products company’s stock worth $23,393,000 after buying an additional 34,510 shares during the last quarter. Resonant Capital Advisors LLC grew its stake in shares of Deere & Company by 20.5% in the 1st quarter. Resonant Capital Advisors LLC now owns 640 shares of the industrial products company’s stock worth $301,000 after buying an additional 109 shares during the last quarter. Mutual Advisors LLC grew its stake in shares of Deere & Company by 20.9% in the 1st quarter. Mutual Advisors LLC now owns 3,179 shares of the industrial products company’s stock worth $1,460,000 after buying an additional 549 shares during the last quarter. Finally, Onyx Bridge Wealth Group LLC grew its stake in shares of Deere & Company by 7.5% in the 1st quarter. Onyx Bridge Wealth Group LLC now owns 1,033 shares of the industrial products company’s stock worth $485,000 after buying an additional 72 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

DE has been the topic of several recent research reports. Daiwa Capital Markets cut their price target on Deere & Company from $565.00 to $530.00 and set an “outperform” rating on the stock in a research note on Thursday, September 25th. JPMorgan Chase & Co. cut their price target on Deere & Company from $495.00 to $480.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 14th. Royal Bank Of Canada initiated coverage on Deere & Company in a research note on Wednesday, October 22nd. They set an “outperform” rating and a $542.00 target price on the stock. Wolfe Research cut their target price on Deere & Company from $550.00 to $520.00 and set an “outperform” rating on the stock in a research note on Friday, October 3rd. Finally, Jefferies Financial Group cut their target price on Deere & Company from $510.00 to $440.00 and set a “hold” rating on the stock in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $518.72.

Deere & Company Stock Performance

Shares of DE opened at $461.41 on Friday. The business’s fifty day simple moving average is $467.74 and its two-hundred day simple moving average is $489.69. The company has a market cap of $124.73 billion, a price-to-earnings ratio of 24.12, a P/E/G ratio of 3.05 and a beta of 1.02. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. Deere & Company has a 12 month low of $387.03 and a 12 month high of $533.78.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.62 by $0.13. The firm had revenue of $10.36 billion for 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%.The company’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same period last year, the business posted $6.29 EPS. Research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

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 (DPR) is 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.