Studio Investment Management LLC Sells 603 Shares of Deere & Company $DE

Studio Investment Management LLC decreased its position in Deere & Company (NYSE:DE) by 12.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,425 shares of the industrial products company’s stock after selling 603 shares during the period. Studio Investment Management LLC’s holdings in Deere & Company were worth $2,257,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Mid American Wealth Advisory Group Inc. bought a new position in Deere & Company in the 2nd quarter worth about $25,000. Activest Wealth Management boosted its stake in Deere & Company by 2,750.0% in the 1st 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. Hughes Financial Services LLC bought a new position in Deere & Company in the 1st quarter worth about $29,000. Cornerstone Planning Group LLC boosted its stake in Deere & Company by 116.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 36 shares in the last quarter. Finally, Marshall & Sullivan Inc. WA bought a new position in Deere & Company in the 2nd quarter worth about $38,000. Institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DE. Jefferies Financial Group dropped their price target on shares of Deere & Company from $510.00 to $440.00 and set a “hold” rating on the stock in a research note on Wednesday, October 8th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Deere & Company in a research note on Wednesday, October 8th. UBS Group set a $535.00 target price on shares of Deere & Company and gave the company a “buy” rating in a research note on Friday. Daiwa Capital Markets lowered their target price 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. Finally, Truist Financial upped their target price on shares of Deere & Company from $602.00 to $609.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $517.35.

Deere & Company Price Performance

DE opened at $460.01 on Wednesday. Deere & Company has a 52-week low of $387.03 and a 52-week high of $533.78. The stock has a market capitalization of $124.35 billion, a P/E ratio of 24.05, a P/E/G ratio of 2.97 and a beta of 1.02. 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 company’s 50-day simple moving average is $471.43 and its two-hundred day simple moving average is $487.92.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating the consensus estimate of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The firm had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. During the same quarter in the prior year, the firm earned $6.29 EPS. The business’s revenue for the quarter was down 9.0% compared to the same quarter last year. As a group, analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 1.4%. Deere & Company’s dividend payout ratio is presently 33.87%.

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.