Deere & Company $DE Shares Sold by Argyle Capital Management LLC

Argyle Capital Management LLC decreased its holdings in shares of Deere & Company (NYSE:DE) by 2.7% in the 2nd quarter, Holdings Channel.com reports. The fund owned 10,853 shares of the industrial products company’s stock after selling 300 shares during the quarter. Deere & Company makes up about 2.0% of Argyle Capital Management LLC’s holdings, making the stock its 9th biggest holding. Argyle Capital Management LLC’s holdings in Deere & Company were worth $5,519,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. M. Kraus & Co acquired a new stake in Deere & Company during the second quarter worth $202,000. Horizon Bancorp Inc. IN purchased a new position in shares of Deere & Company during the second quarter worth $51,000. Ramirez Asset Management Inc. purchased a new position in shares of Deere & Company during the second quarter worth $51,000. Callan Family Office LLC boosted its position in shares of Deere & Company by 177.8% during the second quarter. Callan Family Office LLC now owns 5,701 shares of the industrial products company’s stock worth $2,899,000 after buying an additional 3,649 shares during the period. Finally, Blair William & Co. IL boosted its position in shares of Deere & Company by 9.6% during the second quarter. Blair William & Co. IL now owns 135,982 shares of the industrial products company’s stock worth $69,145,000 after buying an additional 11,892 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

DE has been the subject of several research analyst reports. Oppenheimer lowered their price target on Deere & Company from $566.00 to $512.00 and set an “outperform” rating for the company in a research report on Thursday, September 18th. Citigroup cut their price objective on Deere & Company from $525.00 to $515.00 and set a “neutral” rating for the company in a research report on Tuesday. 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. Jefferies Financial Group cut their price objective on Deere & Company from $510.00 to $440.00 and set a “hold” rating for the company in a research report on Wednesday. Finally, Wolfe Research cut their price objective on Deere & Company from $550.00 to $520.00 and set an “outperform” rating for the company in a research report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $513.88.

Deere & Company Stock Down 1.1%

Shares of NYSE DE opened at $455.73 on Friday. Deere & Company has a 52-week low of $387.03 and a 52-week high of $533.78. The firm has a fifty day moving average of $480.23 and a 200-day moving average of $488.58. The stock has a market capitalization of $123.20 billion, a PE ratio of 23.82, a P/E/G ratio of 2.97 and a beta of 1.02. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76.

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

Deere & Company Announces Dividend

The business 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 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 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.