National Pension Service Sells 16,512 Shares of Deere & Company $DE

National Pension Service decreased its stake in Deere & Company (NYSE:DE) by 2.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 592,052 shares of the industrial products company’s stock after selling 16,512 shares during the quarter. National Pension Service owned 0.22% of Deere & Company worth $301,053,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Mid American Wealth Advisory Group Inc. acquired a new position in Deere & Company during the second quarter valued at approximately $25,000. Activest Wealth Management boosted its position 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 purchasing an additional 55 shares in the last quarter. Marshall & Sullivan Inc. WA acquired a new position in shares of Deere & Company in the 2nd quarter valued at $38,000. Center for Financial Planning Inc. grew its holdings in shares of Deere & Company by 406.7% in the 2nd quarter. Center for Financial Planning Inc. now owns 76 shares of the industrial products company’s stock valued at $39,000 after buying an additional 61 shares during the period. Finally, Livelsberger Financial Advisory bought a new stake in shares of Deere & Company in the 2nd quarter valued at $39,000. Institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Up 0.7%

NYSE DE opened at $477.70 on Wednesday. Deere & Company has a 52 week low of $387.03 and a 52 week 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 50 day moving average price is $465.79 and its two-hundred day moving average price is $490.77. The stock has a market capitalization of $129.14 billion, a price-to-earnings ratio of 24.97, a PEG ratio of 3.05 and a beta of 1.04.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The company had revenue of $10.36 billion for 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 firm’s revenue was down 9.0% compared to the same quarter last year. As a group, analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 10th. Investors of record on Tuesday, September 30th were given a $1.62 dividend. The ex-dividend date of this dividend was 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 currently 33.87%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Truist Financial lifted their target price on Deere & Company from $602.00 to $609.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Wall Street Zen cut Deere & Company from a “hold” rating to a “sell” rating in a report on Saturday. Royal Bank Of Canada initiated coverage on Deere & Company in a research report on Wednesday, October 22nd. They issued an “outperform” rating and a $542.00 price objective for the company. Wolfe Research lowered their target price on Deere & Company from $550.00 to $520.00 and set an “outperform” rating for the company in a research note on Friday, October 3rd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Deere & Company in a research note on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $518.72.

About Deere & Company

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.