Deere & Company $DE Stock Holdings Trimmed by Logan Capital Management Inc.

Logan Capital Management Inc. lowered its position in shares of Deere & Company (NYSE:DE) by 3.2% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 20,775 shares of the industrial products company’s stock after selling 695 shares during the quarter. Logan Capital Management Inc.’s holdings in Deere & Company were worth $10,564,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its holdings in shares of Deere & Company by 14.7% in the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 25,656 shares of the industrial products company’s stock valued at $13,046,000 after acquiring an additional 3,284 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Deere & Company by 21.2% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 40,003 shares of the industrial products company’s stock valued at $20,341,000 after purchasing an additional 7,000 shares during the last quarter. Advisory Alpha LLC increased its stake in Deere & Company by 3.0% during the second quarter. Advisory Alpha LLC now owns 13,492 shares of the industrial products company’s stock valued at $6,861,000 after purchasing an additional 391 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Deere & Company during the second quarter worth $2,084,000. Finally, Transcend Capital Advisors LLC lifted its position in shares of Deere & Company by 4.5% in the 2nd quarter. Transcend Capital Advisors LLC now owns 782 shares of the industrial products company’s stock worth $398,000 after buying an additional 34 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on DE shares. Robert W. Baird lowered their price objective on shares of Deere & Company from $488.00 to $467.00 and set a “neutral” rating for the company in a research report on Monday, October 13th. Oppenheimer lowered their target price on Deere & Company from $566.00 to $512.00 and set an “outperform” rating for the company in a report on Thursday, September 18th. DA Davidson cut their price target on Deere & Company from $595.00 to $580.00 and set a “buy” rating on the stock in a report on Monday, August 18th. Weiss Ratings restated a “hold (c+)” rating on shares of Deere & Company in a research note on Wednesday, October 8th. Finally, Royal Bank Of Canada assumed coverage on Deere & Company in a research report on Wednesday, October 22nd. They issued an “outperform” rating and a $542.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $518.72.

Deere & Company Stock Performance

Shares of DE stock opened at $477.76 on Tuesday. Deere & Company has a 12-month low of $387.03 and a 12-month high of $533.78. 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 has a market capitalization of $129.15 billion, a price-to-earnings ratio of 24.97, a price-to-earnings-growth ratio of 3.04 and a beta of 1.02. The business has a 50 day simple moving average of $469.62 and a 200 day simple moving average of $489.44.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, beating 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 the consensus estimate of $10.33 billion. During the same quarter in the previous year, the business earned $6.29 EPS. The firm’s revenue for the quarter was down 9.0% on a year-over-year basis. On average, equities research analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be issued a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 annualized dividend and a yield of 1.4%. Deere & Company’s dividend payout ratio is presently 33.87%.

Deere & Company 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.