Deere & Company $DE Shares Sold by City Holding Co.

City Holding Co. decreased its holdings in Deere & Company (NYSE:DE) by 0.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,406 shares of the industrial products company’s stock after selling 109 shares during the quarter. Deere & Company comprises 1.3% of City Holding Co.’s investment portfolio, making the stock its 14th largest holding. City Holding Co.’s holdings in Deere & Company were worth $9,867,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in DE. Assenagon Asset Management S.A. grew its stake in shares of Deere & Company by 58.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company’s stock valued at $6,395,000 after purchasing an additional 5,053 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in Deere & Company by 10.7% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company’s stock valued at $3,863,000 after purchasing an additional 798 shares in the last quarter. Providence Capital Advisors LLC raised its stake in shares of Deere & Company by 2.1% during the 1st 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 boosted its stake in shares of Deere & Company by 12.7% in the first quarter. Bragg Financial Advisors Inc now owns 7,213 shares of the industrial products company’s stock valued at $3,386,000 after buying an additional 813 shares in the last quarter. Finally, ASR Vermogensbeheer N.V. acquired a new position in shares of Deere & Company during the 1st quarter worth $13,588,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Down 0.6%

Shares of NYSE:DE opened at $463.93 on Friday. The stock has a market capitalization of $125.41 billion, a P/E ratio of 24.25, a PEG ratio of 2.99 and a beta of 1.00. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. Deere & Company has a 1 year low of $387.03 and a 1 year high of $533.78. The stock has a 50-day simple moving average of $489.67 and a 200-day simple moving average of $489.78.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 11.72% and a return on equity of 21.97%. The business’s revenue for the quarter was down 9.0% compared to the same quarter last year. During the same quarter last year, the firm posted $6.29 EPS. Equities analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $1.62 per share. The ex-dividend date is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. Deere & Company’s dividend payout ratio (DPR) is currently 33.87%.

Analyst Ratings Changes

DE has been the subject of several research reports. JPMorgan Chase & Co. cut their price target on Deere & Company from $500.00 to $495.00 and set a “neutral” rating for the company in a research note on Tuesday, September 2nd. Wall Street Zen downgraded Deere & Company from a “hold” rating to a “sell” rating in a research report on Friday. Robert W. Baird lowered their target price on Deere & Company from $520.00 to $488.00 and set a “neutral” rating on the stock in a report on Friday, August 15th. Truist Financial cut their target price on shares of Deere & Company from $619.00 to $602.00 and set a “buy” rating for the company in a research note on Friday, August 15th. Finally, Melius Research upgraded shares of Deere & Company from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.