Folger Nolan Fleming Douglas Capital Management Inc. Cuts Position in Deere & Company $DE

Folger Nolan Fleming Douglas Capital Management Inc. trimmed its position in shares of Deere & Company (NYSE:DE) by 3.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,052 shares of the industrial products company’s stock after selling 34 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Deere & Company were worth $535,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Activest Wealth Management increased its stake in shares of Deere & Company by 2,750.0% during the first 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 position in Deere & Company in the first quarter valued at approximately $29,000. Cornerstone Planning Group LLC increased its stake in Deere & Company by 116.1% in the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 36 shares during the last quarter. Marshall & Sullivan Inc. WA purchased a new position in Deere & Company in the second quarter valued at approximately $38,000. Finally, Livelsberger Financial Advisory purchased a new position in Deere & Company in the second quarter valued at approximately $39,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on DE. Weiss Ratings reiterated a “hold (c+)” rating on shares of Deere & Company in a research note on Wednesday. Wolfe Research dropped their price target on shares of Deere & Company from $550.00 to $520.00 and set an “outperform” rating on the stock in a research note on Friday, October 3rd. Daiwa Capital Markets dropped their price target on shares of Deere & Company from $565.00 to $530.00 and set an “outperform” rating on the stock in a research note on Thursday, September 25th. Truist Financial increased their price target on shares of Deere & Company from $602.00 to $609.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Oppenheimer decreased their price objective on Deere & Company from $566.00 to $512.00 and set an “outperform” rating for the company in a report on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $513.88.

Deere & Company Price Performance

Shares of NYSE DE opened at $446.76 on Friday. 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 stock has a fifty day moving average price of $479.15 and a 200 day moving average price of $488.35. Deere & Company has a 1-year low of $387.03 and a 1-year high of $533.78. The company has a market cap of $120.77 billion, a PE ratio of 23.35, a P/E/G ratio of 2.94 and a beta of 1.02.

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

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Tuesday, September 30th. 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.