Raleigh Capital Management Inc. Cuts Stock Holdings in Deere & Company $DE

Raleigh Capital Management Inc. cut its stake in shares of Deere & Company (NYSE:DE) by 4.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 610 shares of the industrial products company’s stock after selling 30 shares during the period. Raleigh Capital Management Inc.’s holdings in Deere & Company were worth $310,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Asio Capital LLC boosted its holdings in Deere & Company by 5.3% in the second quarter. Asio Capital LLC now owns 475 shares of the industrial products company’s stock valued at $242,000 after acquiring an additional 24 shares during the last quarter. Kavar Capital Partners Group LLC raised its holdings in shares of Deere & Company by 1.2% in the 2nd quarter. Kavar Capital Partners Group LLC now owns 9,840 shares of the industrial products company’s stock worth $5,004,000 after purchasing an additional 121 shares during the period. Venture Visionary Partners LLC lifted its stake in shares of Deere & Company by 3.3% in the 2nd quarter. Venture Visionary Partners LLC now owns 3,970 shares of the industrial products company’s stock valued at $2,019,000 after purchasing an additional 128 shares in the last quarter. Baron Silver Stevens Financial Advisors LLC grew its holdings in shares of Deere & Company by 4.1% during the 2nd quarter. Baron Silver Stevens Financial Advisors LLC now owns 807 shares of the industrial products company’s stock worth $410,000 after purchasing an additional 32 shares during the period. Finally, Archford Capital Strategies LLC acquired a new stake in Deere & Company during the 2nd quarter worth approximately $212,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on DE shares. Robert W. Baird reduced their price target on shares of Deere & Company from $520.00 to $488.00 and set a “neutral” rating on the stock in a research report on Friday, August 15th. Evercore ISI set a $491.00 price target on shares of Deere & Company in a research report on Tuesday, August 19th. Oppenheimer lowered their price target on Deere & Company from $566.00 to $512.00 and set an “outperform” rating for the company in a report on Thursday, September 18th. Melius upgraded Deere & Company from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. Finally, Truist Financial decreased their target price on Deere & Company from $619.00 to $602.00 and set a “buy” rating for the company in a research report on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, Deere & Company has an average rating of “Moderate Buy” and an average price target of $518.06.

Deere & Company Stock Performance

Shares of DE stock opened at $456.78 on Wednesday. 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 company’s fifty day moving average price is $488.06 and its two-hundred day moving average price is $489.62. The firm has a market capitalization of $123.48 billion, a P/E ratio of 23.88, a P/E/G ratio of 2.99 and a beta of 1.00. Deere & Company has a 12 month low of $387.03 and a 12 month high of $533.78.

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. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The business had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.33 billion. During the same period in the previous year, the company earned $6.29 earnings per share. The company’s revenue for the quarter was down 9.0% compared to the same quarter last year. On average, research 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 disclosed a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $1.62 per share. The ex-dividend date is Tuesday, September 30th. This represents a $6.48 annualized dividend and a yield of 1.4%. Deere & Company’s payout ratio is currently 33.87%.

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.