Ables Iannone Moore & Associates Inc. Reduces Stake in Deere & Company $DE

Ables Iannone Moore & Associates Inc. lowered its holdings in Deere & Company (NYSE:DE) by 3.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 4,322 shares of the industrial products company’s stock after selling 144 shares during the quarter. Deere & Company makes up about 1.4% of Ables Iannone Moore & Associates Inc.’s investment portfolio, making the stock its 16th largest holding. Ables Iannone Moore & Associates Inc.’s holdings in Deere & Company were worth $2,198,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Activest Wealth Management lifted its holdings in Deere & Company by 2,750.0% in the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock worth $27,000 after buying an additional 55 shares during the period. Hughes Financial Services LLC purchased a new stake in Deere & Company in the 1st quarter worth approximately $29,000. Cornerstone Planning Group LLC lifted its holdings in Deere & Company by 116.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock worth $31,000 after buying an additional 36 shares during the period. Orion Capital Management LLC purchased a new stake in Deere & Company in the 4th quarter worth approximately $34,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in Deere & Company in the 4th quarter worth approximately $39,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. DA Davidson lowered their target price on Deere & Company from $595.00 to $580.00 and set a “buy” rating for the company in a research note on Monday, August 18th. Robert W. Baird lowered their target price on Deere & Company from $520.00 to $488.00 and set a “neutral” rating for the company in a research note on Friday, August 15th. Oppenheimer raised their target price on Deere & Company from $560.00 to $566.00 and gave the company an “outperform” rating in a research note on Friday, August 15th. Melius upgraded Deere & Company from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. Finally, Truist Financial lowered their target price on Deere & Company from $619.00 to $602.00 and set a “buy” rating for the company in a research note on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $520.87.

Deere & Company Stock Down 1.1%

DE stock opened at $471.35 on Friday. Deere & Company has a twelve month low of $386.42 and a twelve month high of $533.78. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76. The firm has a market cap of $127.42 billion, a PE ratio of 24.64, a price-to-earnings-growth ratio of 3.06 and a beta of 1.00. The business has a 50 day moving average of $497.38 and a 200 day moving average of $490.32.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, beating analysts’ consensus estimates of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The company had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. During the same quarter last year, the company earned $6.29 EPS. The firm’s revenue for the quarter was down 9.0% on a year-over-year basis. On average, research analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal 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 given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Deere & Company’s dividend payout ratio (DPR) is 33.87%.

Deere & 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.