CWA Asset Management Group LLC Lowers Stock Position in Deere & Company $DE

CWA Asset Management Group LLC reduced its stake in shares of Deere & Company (NYSE:DE) by 21.5% during the second quarter, Holdings Channel reports. The institutional investor owned 25,398 shares of the industrial products company’s stock after selling 6,975 shares during the period. CWA Asset Management Group LLC’s holdings in Deere & Company were worth $12,915,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in DE. Activest Wealth Management increased its stake in Deere & Company by 2,750.0% in the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 55 shares during the last quarter. Hughes Financial Services LLC bought a new position in Deere & Company in the 1st quarter valued at $29,000. Cornerstone Planning Group LLC grew its position in Deere & Company by 116.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 36 shares during the last quarter. Marshall & Sullivan Inc. WA bought a new position in Deere & Company in the 2nd quarter valued at $38,000. Finally, Livelsberger Financial Advisory bought a new position in Deere & Company in the 2nd quarter valued at $39,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Price Performance

Shares of DE stock opened at $463.93 on Friday. Deere & Company has a twelve month low of $387.03 and a twelve month high of $533.78. The stock has a market capitalization of $125.41 billion, a price-to-earnings ratio of 24.25, a P/E/G ratio of 2.99 and a beta of 1.00. The stock has a fifty day simple moving average of $489.67 and a two-hundred day simple moving average of $489.78. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76.

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

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors 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 dividend yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Deere & Company’s dividend payout ratio is 33.87%.

Analyst Ratings Changes

Several equities analysts have commented on the company. Oppenheimer cut their price objective on Deere & Company from $566.00 to $512.00 and set an “outperform” rating on the stock in a research report on Thursday, September 18th. Wall Street Zen downgraded Deere & Company from a “hold” rating to a “sell” rating in a research report on Friday. Evercore ISI set a $491.00 price objective on Deere & Company in a research report on Tuesday, August 19th. Daiwa Capital Markets cut their price objective on Deere & Company from $565.00 to $530.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, Truist Financial cut their price objective on Deere & Company from $619.00 to $602.00 and set a “buy” rating on the stock in a research report on Friday, August 15th. One 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 company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $518.06.

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.