TBH Global Asset Management LLC Has $604,000 Position in Deere & Company $DE

TBH Global Asset Management LLC lessened its holdings in shares of Deere & Company (NYSE:DE) by 3.9% in the second quarter, HoldingsChannel.com reports. The firm owned 1,189 shares of the industrial products company’s stock after selling 48 shares during the period. TBH Global Asset Management LLC’s holdings in Deere & Company were worth $604,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nuveen LLC bought a new stake in shares of Deere & Company in the 1st quarter worth $571,073,000. Voya Investment Management LLC raised its stake in Deere & Company by 97.1% in the first quarter. Voya Investment Management LLC now owns 733,871 shares of the industrial products company’s stock valued at $344,442,000 after purchasing an additional 361,526 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Deere & Company by 4.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock valued at $3,227,258,000 after purchasing an additional 286,253 shares in the last quarter. Sarasin & Partners LLP raised its stake in Deere & Company by 50.4% in the first quarter. Sarasin & Partners LLP now owns 771,866 shares of the industrial products company’s stock valued at $362,275,000 after purchasing an additional 258,522 shares in the last quarter. Finally, Invesco Ltd. raised its stake in Deere & Company by 23.4% in the first quarter. Invesco Ltd. now owns 1,353,255 shares of the industrial products company’s stock valued at $635,150,000 after purchasing an additional 256,806 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on DE shares. Oppenheimer cut their price objective on shares of Deere & Company from $566.00 to $512.00 and set an “outperform” rating for the company in a research note on Thursday, September 18th. Wall Street Zen cut shares of Deere & Company from a “hold” rating to a “sell” rating in a report on Friday. Truist Financial cut their target price on shares of Deere & Company from $619.00 to $602.00 and set a “buy” rating on the stock in a report on Friday, August 15th. JPMorgan Chase & Co. cut their price target on shares of Deere & Company from $500.00 to $495.00 and set a “neutral” rating on the stock in a report on Tuesday, September 2nd. Finally, Evercore ISI set a $491.00 price target on shares of Deere & Company in a report on Tuesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $518.06.

Deere & Company Price Performance

Shares of NYSE:DE opened at $463.93 on Friday. Deere & Company has a fifty-two week low of $387.03 and a fifty-two week high of $533.78. The business has a 50-day simple moving average of $489.67 and a two-hundred day simple moving average of $489.78. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. The firm has a market cap of $125.41 billion, a price-to-earnings ratio of 24.25, a price-to-earnings-growth ratio of 2.99 and a beta of 1.00.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating the consensus estimate of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The firm had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. During the same quarter in the prior year, the firm earned $6.29 EPS. The business’s revenue for the quarter was down 9.0% compared to the same quarter last year. On average, analysts expect that Deere & Company will post 19.32 earnings per share for the current 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. 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 payout ratio is 33.87%.

Deere & Company 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.