Deere & Company $DE Shares Sold by Greenwood Capital Associates LLC

Greenwood Capital Associates LLC lowered its stake in Deere & Company (NYSE:DE) by 15.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,450 shares of the industrial products company’s stock after selling 1,199 shares during the quarter. Greenwood Capital Associates LLC’s holdings in Deere & Company were worth $3,280,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Assenagon Asset Management S.A. increased its holdings in shares of Deere & Company by 58.9% during 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 acquiring an additional 5,053 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its position in Deere & Company by 10.7% during 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 during the period. Providence Capital Advisors LLC boosted its position in shares of 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 purchasing an additional 303 shares in the last quarter. Bragg Financial Advisors Inc increased its position in shares of 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 acquiring an additional 813 shares in the last quarter. Finally, ASR Vermogensbeheer N.V. acquired a new position in Deere & Company during the 1st quarter worth approximately $13,588,000. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Performance

DE opened at $461.88 on Friday. The company has a market cap of $124.86 billion, a price-to-earnings ratio of 24.14, a PEG ratio of 2.91 and a beta of 1.03. The company’s fifty day moving average price is $485.74 and its two-hundred day moving average price is $489.22. Deere & Company has a 1-year low of $387.03 and a 1-year high of $533.78. 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 posted its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.62 by $0.13. The company had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The company’s quarterly revenue was down 9.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.29 earnings per share. On average, analysts expect 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 issued a $1.62 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.4%. Deere & Company’s dividend payout ratio is 33.87%.

Analyst Ratings Changes

DE has been the subject of several research analyst reports. JPMorgan Chase & Co. reduced their target price 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 lowered shares of Deere & Company from a “hold” rating to a “sell” rating in a research report on Friday, September 26th. Truist Financial reduced their target price 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. Evercore ISI set a $491.00 price objective on Deere & Company in a research report on Tuesday, August 19th. Finally, DA Davidson reduced their target price on shares of Deere & Company from $595.00 to $580.00 and set a “buy” rating for the company in a research report on Monday, August 18th. 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $518.06.

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.