Deere & Company $DE Shares Sold by Addenda Capital Inc.

Addenda Capital Inc. trimmed its holdings in shares of Deere & Company (NYSE:DE) by 0.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,863 shares of the industrial products company’s stock after selling 95 shares during the period. Addenda Capital Inc.’s holdings in Deere & Company were worth $8,092,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Southland Equity Partners LLC lifted its position in shares of Deere & Company by 3.9% in the second quarter. Southland Equity Partners LLC now owns 534 shares of the industrial products company’s stock worth $271,000 after buying an additional 20 shares during the last quarter. Chicago Partners Investment Group LLC lifted its holdings in Deere & Company by 1.2% in the 1st quarter. Chicago Partners Investment Group LLC now owns 1,803 shares of the industrial products company’s stock worth $852,000 after purchasing an additional 21 shares during the last quarter. Tyler Stone Wealth Management boosted its position in Deere & Company by 1.7% during the first quarter. Tyler Stone Wealth Management now owns 1,230 shares of the industrial products company’s stock worth $577,000 after purchasing an additional 21 shares during the period. McLean Asset Management Corp grew its holdings in Deere & Company by 4.0% during the second quarter. McLean Asset Management Corp now owns 544 shares of the industrial products company’s stock valued at $283,000 after purchasing an additional 21 shares during the last quarter. Finally, Sunbelt Securities Inc. lifted its stake in shares of Deere & Company by 2.4% in the first quarter. Sunbelt Securities Inc. now owns 925 shares of the industrial products company’s stock worth $434,000 after buying an additional 22 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Performance

Shares of NYSE:DE opened at $463.93 on Friday. Deere & Company has a fifty-two week low of $387.03 and a fifty-two week high of $533.78. The company has a market capitalization of $125.41 billion, a price-to-earnings ratio of 24.25, a P/E/G ratio of 2.99 and a beta of 1.00. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. The firm’s 50 day simple moving average is $489.67 and its 200 day simple moving average is $489.78.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, topping the consensus estimate of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The firm had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.33 billion. During the same period in the previous year, the company posted $6.29 earnings per share. The company’s revenue for the quarter was down 9.0% on a year-over-year basis. As a group, sell-side analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.4%. Deere & Company’s dividend payout ratio is 33.87%.

Wall Street Analyst Weigh In

DE has been the subject of a number of research analyst reports. Wall Street Zen lowered shares of Deere & Company from a “hold” rating to a “sell” rating in a research report on Friday. Daiwa Capital Markets decreased their target price on Deere & Company from $565.00 to $530.00 and set an “outperform” rating for the company in a research note on Thursday. Melius upgraded Deere & Company from a “hold” rating to a “buy” rating in a report on Friday, June 6th. Truist Financial lowered their price objective 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. Finally, Melius Research upgraded shares of Deere & Company from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $518.06.

About Deere & Company

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.