Opinicus Capital Inc. Reduces Stock Position in Deere & Company (NYSE:DE)

Opinicus Capital Inc. trimmed its position in shares of Deere & Company (NYSE:DE) by 2.4% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 3,593 shares of the industrial products company’s stock after selling 89 shares during the quarter. Deere & Company makes up 1.5% of Opinicus Capital Inc.’s holdings, making the stock its 19th largest holding. Opinicus Capital Inc.’s holdings in Deere & Company were worth $1,687,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of DE. Price T Rowe Associates Inc. MD lifted its holdings in Deere & Company by 19.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company’s stock valued at $2,792,082,000 after acquiring an additional 1,095,736 shares during the period. Capital World Investors boosted its holdings in shares of Deere & Company by 2.7% in the fourth quarter. Capital World Investors now owns 6,058,259 shares of the industrial products company’s stock worth $2,566,884,000 after buying an additional 157,224 shares during the last quarter. FMR LLC boosted its holdings in shares of Deere & Company by 22.9% in the fourth quarter. FMR LLC now owns 5,581,408 shares of the industrial products company’s stock worth $2,364,843,000 after buying an additional 1,039,395 shares during the last quarter. Geode Capital Management LLC grew its position in Deere & Company by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 5,305,571 shares of the industrial products company’s stock valued at $2,247,216,000 after buying an additional 97,203 shares during the period. Finally, Norges Bank purchased a new stake in Deere & Company during the fourth quarter valued at approximately $1,244,094,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DE has been the subject of several analyst reports. Morgan Stanley upped their price objective on Deere & Company from $450.00 to $500.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 16th. Truist Financial raised their price objective on Deere & Company from $546.00 to $619.00 and gave the stock a “buy” rating in a research note on Friday, May 16th. Evercore ISI increased their target price on shares of Deere & Company from $455.00 to $493.00 and gave the stock an “in-line” rating in a report on Monday, May 19th. UBS Group dropped their price target on shares of Deere & Company from $462.00 to $440.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. Finally, Barclays raised their price objective on shares of Deere & Company from $475.00 to $530.00 and gave the company an “overweight” rating in a research report on Friday, May 16th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $515.19.

Deere & Company Stock Down 0.7%

DE opened at $517.01 on Friday. The company has a market capitalization of $140.02 billion, a PE ratio of 22.92, a price-to-earnings-growth ratio of 2.14 and a beta of 1.09. The firm has a 50-day simple moving average of $485.29 and a two-hundred day simple moving average of $468.18. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. Deere & Company has a 52 week low of $340.20 and a 52 week high of $533.78.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, beating the consensus estimate of $5.72 by $0.92. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. The business had revenue of $11.17 billion during the quarter, compared to analysts’ expectations of $10.80 billion. During the same quarter last year, the business posted $8.53 EPS. The firm’s revenue for the quarter was down 17.9% compared to the same quarter last year. Analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.25%. The ex-dividend date is Monday, June 30th. Deere & Company’s dividend payout ratio is presently 31.35%.

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.