Deere & Company $DE Shares Sold by Baxter Bros Inc.

Baxter Bros Inc. lowered its stake in shares of Deere & Company (NYSE:DE) by 3.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,035 shares of the industrial products company’s stock after selling 100 shares during the quarter. Baxter Bros Inc.’s holdings in Deere & Company were worth $1,543,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nuveen LLC acquired a new position in Deere & Company during the 1st quarter worth $571,073,000. Voya Investment Management LLC boosted its position in Deere & Company by 97.1% during the 1st quarter. Voya Investment Management LLC now owns 733,871 shares of the industrial products company’s stock worth $344,442,000 after acquiring an additional 361,526 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Deere & Company by 4.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock worth $3,227,258,000 after acquiring an additional 286,253 shares during the period. Invesco Ltd. boosted its position in Deere & Company by 23.4% during the 1st quarter. Invesco Ltd. now owns 1,353,255 shares of the industrial products company’s stock worth $635,150,000 after acquiring an additional 256,806 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its position in Deere & Company by 874.8% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 243,914 shares of the industrial products company’s stock worth $124,028,000 after acquiring an additional 218,893 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on DE shares. Daiwa Capital Markets reduced their price target on Deere & Company from $565.00 to $530.00 and set an “outperform” rating for the company in a research report on Thursday, September 25th. JPMorgan Chase & Co. reduced their price target on Deere & Company from $500.00 to $495.00 and set a “neutral” rating for the company in a research report on Tuesday, September 2nd. Truist Financial boosted their price target on Deere & Company from $602.00 to $609.00 and gave the stock a “buy” rating in a research report on Wednesday. Wolfe Research reduced their price target on Deere & Company from $550.00 to $520.00 and set an “outperform” rating for the company in a research report on Friday, October 3rd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Deere & Company in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $518.59.

Deere & Company Stock Down 0.1%

DE opened at $461.06 on Thursday. Deere & Company has a one year low of $387.03 and a one year high of $533.78. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. The stock’s fifty day moving average is $481.60 and its 200-day moving average is $488.75. The company has a market capitalization of $124.64 billion, a PE ratio of 24.10, a P/E/G ratio of 2.97 and a beta of 1.02.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.62 by $0.13. The company 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 revenue for the quarter was down 9.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.29 earnings per share. On average, equities analysts predict that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. Deere & Company’s payout ratio 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.