Deere & Company (NYSE:DE) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. cut its holdings in Deere & Company (NYSE:DE) by 31.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,577 shares of the industrial products company’s stock after selling 7,939 shares during the quarter. Pacer Advisors Inc.’s holdings in Deere & Company were worth $8,250,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Cetera Investment Advisers grew its position in Deere & Company by 2.3% in the 1st quarter. Cetera Investment Advisers now owns 117,628 shares of the industrial products company’s stock valued at $55,209,000 after buying an additional 2,626 shares during the last quarter. Avantax Advisory Services Inc. lifted its stake in shares of Deere & Company by 5.4% in the 1st quarter. Avantax Advisory Services Inc. now owns 23,599 shares of the industrial products company’s stock worth $11,076,000 after acquiring an additional 1,199 shares during the period. Gilbert & Cook Inc. boosted its holdings in shares of Deere & Company by 103.0% in the first quarter. Gilbert & Cook Inc. now owns 2,401 shares of the industrial products company’s stock valued at $1,127,000 after acquiring an additional 1,218 shares in the last quarter. Brookwood Investment Group LLC acquired a new position in shares of Deere & Company during the first quarter worth about $757,000. Finally, Birchcreek Wealth Management LLC acquired a new position in shares of Deere & Company during the first quarter worth about $207,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

Shares of DE opened at $517.58 on Monday. Deere & Company has a 12-month low of $340.20 and a 12-month high of $533.78. The stock has a market cap of $140.18 billion, a P/E ratio of 25.04, a PEG ratio of 3.28 and a beta of 1.08. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76. The company has a 50-day moving average of $513.03 and a two-hundred day moving average of $484.81.

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

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be issued a $1.62 dividend. The ex-dividend date is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.25%. Deere & Company’s dividend payout ratio (DPR) is 31.35%.

Analyst Ratings Changes

A number of brokerages recently commented on DE. The Goldman Sachs Group restated a “buy” rating on shares of Deere & Company in a research report on Thursday, May 15th. Truist Financial raised their price target on Deere & Company from $546.00 to $619.00 and gave the company a “buy” rating in a report on Friday, May 16th. Robert W. Baird lifted their price target on Deere & Company from $501.00 to $514.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. Melius upgraded Deere & Company from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. Finally, Oppenheimer set a $560.00 target price on Deere & Company and gave the company an “outperform” rating in a report on Tuesday, July 15th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $515.50.

Deere & 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.