Deere & Company $DE Stock Sold by Retirement Planning Group LLC

Retirement Planning Group LLC trimmed its stake in Deere & Company (NYSE:DE) by 26.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,459 shares of the industrial products company’s stock after selling 1,213 shares during the quarter. Retirement Planning Group LLC’s holdings in Deere & Company were worth $2,323,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in DE. Tanager Wealth Management LLP acquired a new stake in shares of Deere & Company during the 3rd quarter worth about $343,000. Novem Group grew its holdings in shares of Deere & Company by 2.0% during the third quarter. Novem Group now owns 1,038 shares of the industrial products company’s stock worth $697,000 after buying an additional 20 shares in the last quarter. Sterling Investment Counsel LLC grew its holdings in shares of Deere & Company by 1.1% during the third quarter. Sterling Investment Counsel LLC now owns 1,657 shares of the industrial products company’s stock worth $1,112,000 after buying an additional 18 shares in the last quarter. North Forty Two & Co. purchased a new stake in shares of Deere & Company during the third quarter worth about $201,000. Finally, Value Partners Investments Inc. raised its position in shares of Deere & Company by 12.8% in the third quarter. Value Partners Investments Inc. now owns 3,098 shares of the industrial products company’s stock valued at $2,084,000 after buying an additional 351 shares during the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on DE shares. Seaport Research Partners set a $570.00 price objective on shares of Deere & Company in a research note on Friday, August 14th. Nomura upgraded shares of Deere & Company to a “buy” rating in a research report on Monday, August 31st. Truist Financial lowered their target price on shares of Deere & Company from $812.00 to $804.00 and set a “buy” rating for the company in a research note on Monday, August 24th. Wall Street Zen cut shares of Deere & Company from a “hold” rating to a “sell” rating in a research note on Saturday, August 22nd. Finally, Evercore upgraded Deere & Company from an “in-line” rating to an “outperform” rating and set a $813.00 price target for the company in a report on Wednesday, September 2nd. Seventeen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, Deere & Company has a consensus rating of “Moderate Buy” and a consensus price target of $688.10.

Deere & Company Stock Performance

NYSE DE opened at $632.44 on Wednesday. The business’s 50-day moving average price is $658.72 and its 200 day moving average price is $613.10. Deere & Company has a twelve month low of $454.50 and a twelve month high of $721.22. The company has a market capitalization of $170.52 billion, a PE ratio of 35.14, a price-to-earnings-growth ratio of 2.29 and a beta of 0.86. The company has a current ratio of 2.10, a quick ratio of 1.89 and a debt-to-equity ratio of 1.45.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.69 by $0.41. The firm had revenue of $12.61 billion for the quarter, compared to analyst estimates of $10.81 billion. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period last year, the company earned $4.75 EPS. On average, research analysts predict that Deere & Company will post 18.11 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 9th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.0%. Deere & Company’s dividend payout ratio is currently 36.00%.

About Deere & Company

Deere & Company, founded by blacksmith John Deere in 1837, is a global manufacturer of agricultural, construction, forestry and turf-care equipment. The company is headquartered in Moline, Illinois, and operates under the John Deere brand.

Its products include tractors, combines, planters, sprayers, harvesting equipment, loaders, excavators, motor graders, forestry machines, mowers and compact utility equipment. Deere also provides replacement parts, equipment support, financing and technology-enabled solutions designed to improve machine productivity, automation and precision in farming and other industries.

Deere serves customers through dealerships and operations across North America, Latin America, Europe and other international markets.