Geo Capital Gestora de Recursos Ltd Sells 1,187 Shares of Deere & Company $DE

Geo Capital Gestora de Recursos Ltd trimmed its holdings in shares of Deere & Company (NYSE:DE) by 8.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,951 shares of the industrial products company’s stock after selling 1,187 shares during the period. Deere & Company accounts for 8.4% of Geo Capital Gestora de Recursos Ltd’s portfolio, making the stock its 2nd biggest position. Geo Capital Gestora de Recursos Ltd’s holdings in Deere & Company were worth $6,079,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Breed s Hill Capital LLC acquired a new stake in shares of Deere & Company during the first quarter worth $215,000. Erste Asset Management GmbH increased its holdings in shares of Deere & Company by 50.2% in the 1st quarter. Erste Asset Management GmbH now owns 25,386 shares of the industrial products company’s stock worth $11,813,000 after acquiring an additional 8,490 shares during the period. Venture Visionary Partners LLC increased its holdings in shares of Deere & Company by 1.2% in the 1st quarter. Venture Visionary Partners LLC now owns 3,842 shares of the industrial products company’s stock worth $1,804,000 after acquiring an additional 44 shares during the period. Credit Agricole S A increased its holdings in shares of Deere & Company by 1.3% in the 1st quarter. Credit Agricole S A now owns 128,688 shares of the industrial products company’s stock worth $60,400,000 after acquiring an additional 1,625 shares during the period. Finally, Banco Bilbao Vizcaya Argentaria S.A. increased its holdings in shares of Deere & Company by 9.1% in the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 29,355 shares of the industrial products company’s stock worth $13,799,000 after acquiring an additional 2,447 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Stock Performance

Shares of DE opened at $489.1970 on Wednesday. Deere & Company has a one year low of $371.76 and a one year high of $533.78. The company has a 50-day moving average of $510.04 and a two-hundred day moving average of $490.13. The stock has a market cap of $132.49 billion, a price-to-earnings ratio of 25.57, a PEG ratio of 3.13 and a beta of 1.06. 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 announced its earnings results on Thursday, August 14th. The industrial products company reported $4.75 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 company had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.33 billion. During the same period last year, the company posted $6.29 earnings per share. The business’s revenue for the quarter was down 9.0% on a year-over-year basis. On average, equities research analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Monday, June 30th were given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, June 30th. Deere & Company’s dividend payout ratio is 33.87%.

Analysts Set New Price Targets

A number of analysts recently weighed in on DE shares. Bank of America increased their price objective on shares of Deere & Company from $495.00 to $556.00 and gave the stock a “neutral” rating in a report on Friday, May 16th. BMO Capital Markets reissued a “market perform” rating and set a $460.00 target price (up previously from $425.00) on shares of Deere & Company in a research note on Wednesday, May 21st. Citigroup lowered their target price on shares of Deere & Company from $550.00 to $525.00 and set a “neutral” rating on the stock in a research note on Friday, May 30th. JPMorgan Chase & Co. raised their target price on shares of Deere & Company from $490.00 to $540.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. Finally, Truist Financial lowered their target price on shares of Deere & Company from $619.00 to $602.00 and set a “buy” rating on the stock in a research note on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $523.87.

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.