Probity Advisors Inc. Sells 297 Shares of Deere & Company $DE

Probity Advisors Inc. lowered its position in shares of Deere & Company (NYSE:DE) by 10.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,659 shares of the industrial products company’s stock after selling 297 shares during the quarter. Probity Advisors Inc.’s holdings in Deere & Company were worth $1,352,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. OLD National Bancorp IN raised its holdings in shares of Deere & Company by 2.6% in the 2nd quarter. OLD National Bancorp IN now owns 24,000 shares of the industrial products company’s stock worth $12,204,000 after purchasing an additional 610 shares during the period. OVERSEA CHINESE BANKING Corp Ltd raised its holdings in shares of Deere & Company by 10.7% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company’s stock worth $3,863,000 after purchasing an additional 798 shares during the period. Providence Capital Advisors LLC raised its holdings in shares of Deere & Company by 2.1% in the 1st quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company’s stock worth $6,871,000 after purchasing an additional 303 shares during the period. Bragg Financial Advisors Inc raised its holdings in shares of Deere & Company by 12.7% in the 1st quarter. Bragg Financial Advisors Inc now owns 7,213 shares of the industrial products company’s stock worth $3,386,000 after purchasing an additional 813 shares during the period. Finally, ASR Vermogensbeheer N.V. bought a new stake in shares of Deere & Company in the 1st quarter worth approximately $13,588,000. Institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Wall Street Zen raised shares of Deere & Company from a “sell” rating to a “hold” rating in a report on Saturday, October 4th. Truist Financial lifted their price target on shares of Deere & Company from $602.00 to $609.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Oppenheimer lowered their price target on shares of Deere & Company from $566.00 to $512.00 and set an “outperform” rating on the stock in a report on Thursday, September 18th. UBS Group set a $535.00 target price on shares of Deere & Company and gave the company a “buy” rating in a report on Friday. Finally, Robert W. Baird lowered their target price on shares of Deere & Company from $488.00 to $467.00 and set a “neutral” rating on the stock in a report on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $517.35.

Deere & Company Trading Up 0.9%

Shares of DE stock opened at $462.67 on Tuesday. The company’s fifty day simple moving average is $472.35 and its two-hundred day simple moving average is $488.11. 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 has a 1 year low of $387.03 and a 1 year high of $533.78. The stock has a market capitalization of $125.07 billion, a price-to-earnings ratio of 24.19, a PEG ratio of 2.95 and a beta of 1.02.

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

Deere & Company Announces Dividend

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

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.