Deere & Company $DE Stake Lessened by Abacus Planning Group Inc.

Abacus Planning Group Inc. lessened its stake in shares of Deere & Company (NYSE:DE) by 3.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,835 shares of the industrial products company’s stock after selling 93 shares during the quarter. Abacus Planning Group Inc.’s holdings in Deere & Company were worth $1,442,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in DE. Nuveen LLC acquired a new position in shares of Deere & Company during the 1st quarter valued at $571,073,000. Voya Investment Management LLC boosted its stake in Deere & Company by 97.1% during 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 buying an additional 361,526 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Deere & Company by 4.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock worth $3,227,258,000 after acquiring an additional 286,253 shares during the period. Invesco Ltd. grew its holdings in Deere & Company by 23.4% during the first quarter. Invesco Ltd. now owns 1,353,255 shares of the industrial products company’s stock worth $635,150,000 after acquiring an additional 256,806 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its position in Deere & Company by 874.8% in the second quarter. Robeco Institutional Asset Management B.V. now owns 243,914 shares of the industrial products company’s stock worth $124,028,000 after acquiring an additional 218,893 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on DE. Oppenheimer reduced 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 report on Thursday, September 18th. Melius upgraded shares of Deere & Company from a “hold” rating to a “buy” rating in a report on Friday, June 6th. Wall Street Zen lowered shares of Deere & Company from a “hold” rating to a “sell” rating in a research report on Friday, September 26th. DA Davidson cut their price objective on Deere & Company from $595.00 to $580.00 and set a “buy” rating for the company in a research report on Monday, August 18th. Finally, Truist Financial reduced their price objective on Deere & Company from $619.00 to $602.00 and set a “buy” rating for the company in a research note on Friday, August 15th. One equities research 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $518.06.

Deere & Company Stock Up 2.2%

DE stock opened at $461.88 on Friday. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. The firm has a market capitalization of $124.86 billion, a P/E ratio of 24.14, a P/E/G ratio of 2.91 and a beta of 1.03. Deere & Company has a 52-week low of $387.03 and a 52-week high of $533.78. The company’s 50 day simple moving average is $485.74 and its 200-day simple moving average is $489.22.

Deere & Company (NYSE:DE) last posted its quarterly earnings data 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. 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 for the quarter, compared to analysts’ expectations of $10.33 billion. During the same period in the previous year, the company posted $6.29 EPS. The company’s quarterly revenue was down 9.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be issued 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 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.