Intech Investment Management LLC Sells 5,781 Shares of Deere & Company (NYSE:DE)

Intech Investment Management LLC decreased its stake in shares of Deere & Company (NYSE:DE) by 26.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,171 shares of the industrial products company’s stock after selling 5,781 shares during the period. Intech Investment Management LLC’s holdings in Deere & Company were worth $6,749,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. lifted its position in Deere & Company by 20.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock valued at $5,906,000 after purchasing an additional 2,692 shares during the period. Chase Investment Counsel Corp lifted its position in Deere & Company by 53.8% during the third quarter. Chase Investment Counsel Corp now owns 4,000 shares of the industrial products company’s stock valued at $1,669,000 after purchasing an additional 1,400 shares during the period. Balentine LLC bought a new position in Deere & Company during the third quarter valued at approximately $710,000. Royal Fund Management LLC lifted its position in Deere & Company by 99.8% during the third quarter. Royal Fund Management LLC now owns 6,454 shares of the industrial products company’s stock valued at $2,694,000 after purchasing an additional 3,223 shares during the period. Finally, New Century Financial Group LLC bought a new position in Deere & Company during the third quarter valued at approximately $1,052,000. Institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

DE has been the topic of several recent research reports. Bank of America increased their price target on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Truist Financial increased their price target on shares of Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Hsbc Global Res downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. BMO Capital Markets initiated coverage on shares of Deere & Company in a research report on Friday, August 9th. They issued a “market perform” rating and a $400.00 price target on the stock. Finally, Morgan Stanley decreased their price target on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Deere & Company presently has a consensus rating of “Hold” and a consensus target price of $420.69.

Deere & Company Stock Performance

DE opened at $436.28 on Friday. The stock has a market capitalization of $119.37 billion, a price-to-earnings ratio of 14.89, a PEG ratio of 1.54 and a beta of 0.93. The company has a fifty day moving average of $405.95 and a 200 day moving average of $386.18. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $442.05. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, November 21st. The industrial products company reported $4.55 earnings per share for the quarter, beating the consensus estimate of $3.90 by $0.65. The company had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.20 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. Deere & Company’s quarterly revenue was down 32.8% on a year-over-year basis. During the same period last year, the company posted $8.26 earnings per share. As a group, sell-side analysts forecast that Deere & Company will post 25 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Monday, September 30th were paid a dividend of $1.47 per share. The ex-dividend date was Monday, September 30th. This represents a $5.88 annualized dividend and a yield of 1.35%. Deere & Company’s payout ratio is 20.06%.

Deere & Company 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.