Osterweis Capital Management Inc. Has $19.35 Million Stock Holdings in Deere & Company $DE

Osterweis Capital Management Inc. cut its position in shares of Deere & Company (NYSE:DE) by 21.1% during the first quarter, Holdings Channel reports. The institutional investor owned 41,227 shares of the industrial products company’s stock after selling 11,014 shares during the quarter. Osterweis Capital Management Inc.’s holdings in Deere & Company were worth $19,350,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its position in Deere & Company by 58.9% during the first quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company’s stock worth $6,395,000 after buying an additional 5,053 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its position in Deere & Company by 10.7% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company’s stock worth $3,863,000 after buying an additional 798 shares in the last quarter. Providence Capital Advisors LLC grew its position in Deere & Company by 2.1% during the first quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company’s stock worth $6,871,000 after buying an additional 303 shares in the last quarter. Bragg Financial Advisors Inc grew its position in Deere & Company by 12.7% during the first quarter. Bragg Financial Advisors Inc now owns 7,213 shares of the industrial products company’s stock worth $3,386,000 after buying an additional 813 shares in the last quarter. Finally, ASR Vermogensbeheer N.V. acquired a new stake in Deere & Company during the first quarter worth about $13,588,000. 68.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DE has been the topic of a number of recent research reports. JPMorgan Chase & Co. decreased their price objective on Deere & Company from $500.00 to $495.00 and set a “neutral” rating on the stock in a report on Tuesday, September 2nd. Evercore ISI set a $491.00 price objective on Deere & Company in a report on Tuesday, August 19th. Citigroup decreased their price objective on Deere & Company from $550.00 to $525.00 and set a “neutral” rating on the stock in a report on Friday, May 30th. Truist Financial decreased their price objective on Deere & Company from $619.00 to $602.00 and set a “buy” rating on the stock in a report on Friday, August 15th. Finally, DA Davidson decreased their price objective on Deere & Company from $595.00 to $580.00 and set a “buy” rating on the stock in a report on Monday, August 18th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $520.87.

Deere & Company Stock Up 1.0%

Shares of DE opened at $476.24 on Friday. The company has a market capitalization of $128.74 billion, a P/E ratio of 24.89, a PEG ratio of 3.03 and a beta of 1.00. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. Deere & Company has a one year low of $383.10 and a one year high of $533.78. The business’s 50 day simple moving average is $498.30 and its 200-day simple moving average is $490.35.

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

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Deere & Company’s payout ratio is presently 33.87%.

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.