Deere & Company $DE Position Reduced by Eads & Heald Wealth Management

Eads & Heald Wealth Management trimmed its position in Deere & Company (NYSE:DE) by 6.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,634 shares of the industrial products company’s stock after selling 115 shares during the period. Eads & Heald Wealth Management’s holdings in Deere & Company were worth $831,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Activest Wealth Management boosted its position in shares of Deere & Company by 2,750.0% during the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 55 shares in the last quarter. Hughes Financial Services LLC acquired a new stake in shares of Deere & Company during the 1st quarter valued at $29,000. Cornerstone Planning Group LLC raised its position in shares of Deere & Company by 116.1% during the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 36 shares during the period. Marshall & Sullivan Inc. WA acquired a new position in shares of Deere & Company in the second quarter worth about $38,000. Finally, Livelsberger Financial Advisory acquired a new stake in shares of Deere & Company during the second quarter valued at approximately $39,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on DE shares. Wolfe Research cut their target price on shares of Deere & Company from $550.00 to $520.00 and set an “outperform” rating for the company in a research report on Friday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Deere & Company in a report on Saturday, September 27th. Robert W. Baird dropped their target price on shares of Deere & Company from $520.00 to $488.00 and set a “neutral” rating on the stock in a report on Friday, August 15th. Evercore ISI set a $491.00 price target on shares of Deere & Company in a research report on Tuesday, August 19th. Finally, Truist Financial decreased their target price on shares of 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 investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $518.18.

Deere & Company Stock Up 0.2%

Shares of DE opened at $462.59 on Monday. The company has a market capitalization of $125.05 billion, a P/E ratio of 24.18, a PEG ratio of 2.98 and a beta of 1.02. Deere & Company has a one year low of $387.03 and a one year high of $533.78. 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 business’s 50 day simple moving average is $484.64 and its 200-day simple moving average is $489.24.

Deere & Company (NYSE:DE) last issued its 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. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The company had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.33 billion. During the same quarter last year, the firm earned $6.29 EPS. The company’s revenue for the quarter was down 9.0% on a year-over-year basis. As a group, sell-side analysts predict that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company 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 $1.62 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. Deere & Company’s payout ratio is 33.87%.

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.