Johnson Investment Counsel Inc. Cuts Stake in Deere & Company $DE

Johnson Investment Counsel Inc. decreased its holdings in Deere & Company (NYSE:DE) by 6.3% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,176 shares of the industrial products company’s stock after selling 482 shares during the period. Johnson Investment Counsel Inc.’s holdings in Deere & Company were worth $3,649,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Deere & Company by 0.8% during 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 buying an additional 185,671 shares during the period. Price T Rowe Associates Inc. MD boosted its position 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 buying an additional 286,253 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position 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 buying an additional 35,075 shares during the period. Charles Schwab Investment Management Inc. boosted its position 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 buying an additional 25,725 shares during the period. Finally, Invesco Ltd. boosted its position 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 buying an additional 256,806 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Down 2.1%

NYSE:DE opened at $446.76 on Monday. The company has a 50-day moving average price of $479.15 and a 200-day moving average price of $488.45. Deere & Company has a 12 month low of $387.03 and a 12 month high of $533.78. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. The stock has a market cap of $120.77 billion, a price-to-earnings ratio of 23.35, a P/E/G ratio of 2.87 and a beta of 1.02.

Deere & Company (NYSE:DE) last posted 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. The firm had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The company’s quarterly revenue was down 9.0% compared to the same quarter last year. During the same period last year, the company posted $6.29 EPS. Equities analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Tuesday, September 30th. Deere & Company’s dividend payout ratio (DPR) is presently 33.87%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Wolfe Research dropped their price target on shares of Deere & Company from $550.00 to $520.00 and set an “outperform” rating for the company in a research report on Friday, October 3rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Deere & Company in a research report on Wednesday, October 8th. Robert W. Baird dropped their price target on shares of Deere & Company from $520.00 to $488.00 and set a “neutral” rating for the company in a research report on Friday, August 15th. Truist Financial increased their price target on shares of Deere & Company from $602.00 to $609.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, DA Davidson dropped their target price on shares of Deere & Company from $595.00 to $580.00 and set a “buy” rating for the company in a research report on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, Deere & Company currently has an average rating of “Moderate Buy” and a consensus price target of $513.88.

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.