Birmingham Capital Management Co. Inc. AL Sells 1,815 Shares of Deere & Company $DE

Birmingham Capital Management Co. Inc. AL lessened its stake in shares of Deere & Company (NYSE:DE) by 5.2% during the 1st quarter, HoldingsChannel reports. The firm owned 33,025 shares of the industrial products company’s stock after selling 1,815 shares during the quarter. Deere & Company comprises 5.8% of Birmingham Capital Management Co. Inc. AL’s holdings, making the stock its biggest position. Birmingham Capital Management Co. Inc. AL’s holdings in Deere & Company were worth $15,500,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Anderson Financial Strategies LLC increased its position in Deere & Company by 55.6% in the 1st quarter. Anderson Financial Strategies LLC now owns 193 shares of the industrial products company’s stock worth $91,000 after buying an additional 69 shares during the period. Strs Ohio bought a new position in Deere & Company in the 1st quarter worth approximately $27,656,000. Addison Capital Co increased its position in Deere & Company by 11.9% in the 1st quarter. Addison Capital Co now owns 1,013 shares of the industrial products company’s stock worth $476,000 after buying an additional 108 shares during the period. Advisors Capital Management LLC increased its position in Deere & Company by 0.9% in the 1st quarter. Advisors Capital Management LLC now owns 61,217 shares of the industrial products company’s stock worth $28,732,000 after buying an additional 552 shares during the period. Finally, Indiana Trust & Investment Management Co increased its position in Deere & Company by 4.2% in the 1st quarter. Indiana Trust & Investment Management Co now owns 1,122 shares of the industrial products company’s stock worth $527,000 after buying an additional 45 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of DE stock opened at $471.54 on Thursday. The stock’s fifty day simple moving average is $499.13 and its 200 day simple moving average is $490.41. 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 cap of $127.47 billion, a price-to-earnings ratio of 24.65, a P/E/G ratio of 3.06 and a beta of 1.00. Deere & Company has a one year low of $378.66 and a one year high of $533.78.

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

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be paid a $1.62 dividend. 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 payout ratio is currently 33.87%.

Analysts Set New Price Targets

Several research analysts have commented on the company. Truist Financial dropped their price target on Deere & Company from $619.00 to $602.00 and set a “buy” rating on the stock in a research report on Friday, August 15th. Oppenheimer boosted their price objective on Deere & Company from $560.00 to $566.00 and gave the company an “outperform” rating in a research report on Friday, August 15th. The Goldman Sachs Group restated a “buy” rating on shares of Deere & Company in a research report on Thursday, May 15th. Melius Research upgraded Deere & Company from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 6th. Finally, Robert W. Baird lowered their price objective on Deere & Company from $520.00 to $488.00 and set a “neutral” rating on the stock in a research report on Friday, August 15th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $520.87.

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.