Deere & Company $DE Shares Sold by HB Wealth Management LLC

HB Wealth Management LLC lessened its stake in shares of Deere & Company (NYSE:DE) by 4.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 10,532 shares of the industrial products company’s stock after selling 436 shares during the period. HB Wealth Management LLC’s holdings in Deere & Company were worth $5,356,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Assenagon Asset Management S.A. lifted its position in shares of Deere & Company by 58.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company’s stock valued at $6,395,000 after acquiring an additional 5,053 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in shares of Deere & Company by 10.7% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company’s stock valued at $3,863,000 after purchasing an additional 798 shares in the last quarter. Providence Capital Advisors LLC lifted its holdings in shares of Deere & Company by 2.1% in the first quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company’s stock valued at $6,871,000 after purchasing an additional 303 shares in the last quarter. Bragg Financial Advisors Inc lifted its holdings in shares of Deere & Company by 12.7% in the first quarter. Bragg Financial Advisors Inc now owns 7,213 shares of the industrial products company’s stock valued at $3,386,000 after purchasing an additional 813 shares in the last quarter. Finally, ASR Vermogensbeheer N.V. purchased a new stake in shares of Deere & Company in the first quarter valued at $13,588,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Trading Down 1.9%

NYSE DE opened at $456.78 on Wednesday. Deere & Company has a 1-year low of $387.03 and a 1-year high of $533.78. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. The company has a market capitalization of $123.48 billion, a PE ratio of 23.88, a price-to-earnings-growth ratio of 2.99 and a beta of 1.00. The firm’s fifty day simple moving average is $488.06 and its 200-day simple moving average is $489.62.

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

Deere & Company Dividend Announcement

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

Analysts Set New Price Targets

DE has been the subject of a number of research analyst reports. DA Davidson reduced their target price on Deere & Company from $595.00 to $580.00 and set a “buy” rating for the company in a report on Monday, August 18th. Truist Financial reduced their target price on Deere & Company from $619.00 to $602.00 and set a “buy” rating for the company in a report on Friday, August 15th. Melius upgraded Deere & Company from a “hold” rating to a “buy” rating in a report on Friday, June 6th. Daiwa Capital Markets reduced their target price on Deere & Company from $565.00 to $530.00 and set an “outperform” rating for the company in a report on Thursday, September 25th. Finally, JPMorgan Chase & Co. reduced their target price on Deere & Company from $500.00 to $495.00 and set a “neutral” rating for the company in a report on Tuesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $518.06.

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.