CX Institutional Acquires 494 Shares of Deere & Company $DE

CX Institutional grew its holdings in Deere & Company (NYSE:DE) by 4.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 12,510 shares of the industrial products company’s stock after buying an additional 494 shares during the quarter. CX Institutional’s holdings in Deere & Company were worth $6,361,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Essex Financial Services Inc. lifted its stake in Deere & Company by 1.5% in the second quarter. Essex Financial Services Inc. now owns 7,666 shares of the industrial products company’s stock worth $3,898,000 after acquiring an additional 116 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its holdings in Deere & Company by 3,651.5% in the 2nd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 11,142 shares of the industrial products company’s stock worth $5,666,000 after purchasing an additional 10,845 shares in the last quarter. Sylvest Advisors LLC lifted its position in shares of Deere & Company by 2.2% in the 2nd quarter. Sylvest Advisors LLC now owns 1,060 shares of the industrial products company’s stock worth $539,000 after purchasing an additional 23 shares during the period. Harrell Investment Partners LLC bought a new stake in shares of Deere & Company during the 2nd quarter valued at about $702,000. Finally, Clarus Group Inc. purchased a new position in shares of Deere & Company during the second quarter valued at about $259,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Truist Financial lowered their price objective on shares of Deere & Company from $619.00 to $602.00 and set a “buy” rating for the company in a report on Friday, August 15th. Daiwa Capital Markets decreased their target price on Deere & Company from $565.00 to $530.00 and set an “outperform” rating for the company in a research report on Thursday. DA Davidson dropped their price target on Deere & Company from $595.00 to $580.00 and set a “buy” rating on the stock in a research report on Monday, August 18th. Melius raised Deere & Company from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. Finally, Citigroup lowered their price objective on Deere & Company from $550.00 to $525.00 and set a “neutral” rating for the company in a research report on Friday, May 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, Deere & Company has an average rating of “Moderate Buy” and a consensus price target of $518.06.

Deere & Company Stock Down 0.3%

DE stock opened at $467.43 on Friday. The business has a 50 day moving average of $490.39 and a 200 day moving average of $489.74. The firm has a market cap of $126.36 billion, a PE ratio of 24.43, a price-to-earnings-growth ratio of 3.02 and a beta of 1.00. Deere & Company has a twelve month low of $387.03 and a twelve month high of $533.78. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE) last released 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. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The business had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.33 billion. During the same period in the previous year, the company posted $6.29 earnings per share. The company’s revenue for the quarter was down 9.0% compared to the same quarter last year. On average, research analysts forecast that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Deere & Company’s dividend payout ratio (DPR) is currently 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.