Deere & Company (NYSE:DE) Position Cut by Barings LLC

Barings LLC lowered its position in shares of Deere & Company (NYSE:DE) by 6.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 18,249 shares of the industrial products company’s stock after selling 1,289 shares during the period. Barings LLC’s holdings in Deere & Company were worth $6,818,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of DE. Vanguard Group Inc. increased its holdings in shares of Deere & Company by 1.2% during the first quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock valued at $9,031,500,000 after purchasing an additional 263,709 shares during the period. Janus Henderson Group PLC increased its stake in Deere & Company by 0.5% during the 1st quarter. Janus Henderson Group PLC now owns 3,859,021 shares of the industrial products company’s stock valued at $1,585,028,000 after buying an additional 19,200 shares during the period. Parnassus Investments LLC raised its position in shares of Deere & Company by 22.4% during the 4th quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock worth $1,541,967,000 after buying an additional 705,771 shares in the last quarter. Norges Bank acquired a new stake in shares of Deere & Company in the 4th quarter worth approximately $1,248,036,000. Finally, Fisher Asset Management LLC increased its stake in shares of Deere & Company by 11.3% during the fourth quarter. Fisher Asset Management LLC now owns 1,481,458 shares of the industrial products company’s stock valued at $592,391,000 after acquiring an additional 150,713 shares during the period. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Up 0.3 %

Shares of DE stock opened at $388.59 on Thursday. The stock’s 50 day simple moving average is $370.53 and its 200 day simple moving average is $381.10. Deere & Company has a twelve month low of $340.20 and a twelve month high of $417.46. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. The company has a market capitalization of $107.08 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 1.27 and a beta of 0.92.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The company had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. During the same quarter last year, the firm posted $10.20 earnings per share. The company’s quarterly revenue was down 20.3% compared to the same quarter last year. As a group, research analysts predict that Deere & Company will post 25.07 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be given a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Monday, September 30th. Deere & Company’s dividend payout ratio is currently 17.70%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. HSBC downgraded Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Hsbc Global Res downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. BMO Capital Markets started coverage on Deere & Company in a research note on Friday, August 9th. They set a “market perform” rating and a $400.00 price objective for the company. Finally, Truist Financial restated a “buy” rating and set a $443.00 price objective (up previously from $439.00) on shares of Deere & Company in a report on Friday, August 16th. Fourteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Deere & Company currently has an average rating of “Hold” and an average target price of $414.11.

Insider Buying and Selling

In other news, insider Cory J. Reed sold 13,370 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the completion of the transaction, the insider now directly owns 41,642 shares in the company, valued at $15,725,268.46. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.26% of the stock is owned by insiders.

Deere & Company Profile

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.