Palisade Asset Management LLC Sells 185 Shares of Deere & Company (NYSE:DE)

Palisade Asset Management LLC decreased its holdings in shares of Deere & Company (NYSE:DE) by 0.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,162 shares of the industrial products company’s stock after selling 185 shares during the period. Deere & Company comprises approximately 1.8% of Palisade Asset Management LLC’s holdings, making the stock its 15th largest position. Palisade Asset Management LLC’s holdings in Deere & Company were worth $17,911,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Assenagon Asset Management S.A. raised its stake in Deere & Company by 58.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company’s stock worth $6,395,000 after acquiring an additional 5,053 shares during the period. Generali Investments CEE investicni spolecnost a.s. bought a new stake in Deere & Company during the 4th quarter valued at approximately $847,000. BankPlus Trust Department purchased a new stake in Deere & Company during the 4th quarter valued at approximately $1,127,000. Stenger Family Office LLC bought a new stake in shares of Deere & Company during the fourth quarter valued at approximately $3,144,000. Finally, First Business Financial Services Inc. purchased a new position in shares of Deere & Company in the fourth quarter worth $4,254,000. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

Deere & Company stock opened at $513.86 on Tuesday. Deere & Company has a 1-year low of $340.20 and a 1-year high of $533.78. The company’s 50-day moving average is $496.05 and its 200 day moving average is $471.31. The firm has a market capitalization of $139.17 billion, a P/E ratio of 24.86, a price-to-earnings-growth ratio of 3.31 and a beta of 1.09. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.11 and a quick ratio of 1.89.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.72 by $0.92. The firm had revenue of $11.17 billion during the quarter, compared to analyst estimates of $10.80 billion. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. Deere & Company’s quarterly revenue was down 17.9% compared to the same quarter last year. During the same period last year, the company earned $8.53 EPS. Research analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be issued a dividend of $1.62 per share. The ex-dividend date is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.26%. Deere & Company’s payout ratio is 31.35%.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Bank of America lifted their price target on shares of Deere & Company from $495.00 to $556.00 and gave the company a “neutral” rating in a report on Friday, May 16th. Raymond James Financial boosted their target price on Deere & Company from $530.00 to $560.00 and gave the stock an “outperform” rating in a research report on Friday, May 16th. Robert W. Baird raised their price target on Deere & Company from $501.00 to $514.00 and gave the company a “neutral” rating in a report on Friday, May 16th. Truist Financial lifted 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. Finally, DA Davidson reiterated a “buy” rating and set a $542.00 target price on shares of Deere & Company in a research report on Friday, May 16th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Deere & Company presently has a consensus rating of “Hold” and a consensus price target of $515.19.

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.