Bayforest Capital Ltd Sells 54 Shares of Deere & Company $DE

Bayforest Capital Ltd decreased its holdings in shares of Deere & Company (NYSE:DE) by 9.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 547 shares of the industrial products company’s stock after selling 54 shares during the period. Bayforest Capital Ltd’s holdings in Deere & Company were worth $278,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Southland Equity Partners LLC increased its holdings in shares of Deere & Company by 3.9% in the second quarter. Southland Equity Partners LLC now owns 534 shares of the industrial products company’s stock worth $271,000 after buying an additional 20 shares during the period. Vivid Wealth Management LLC increased its holdings in shares of Deere & Company by 1.9% in the second quarter. Vivid Wealth Management LLC now owns 1,088 shares of the industrial products company’s stock worth $553,000 after buying an additional 20 shares during the period. Chicago Partners Investment Group LLC increased its holdings in shares of Deere & Company by 1.2% in the first quarter. Chicago Partners Investment Group LLC now owns 1,803 shares of the industrial products company’s stock worth $852,000 after buying an additional 21 shares during the period. Tyler Stone Wealth Management increased its holdings in shares of Deere & Company by 1.7% in the first quarter. Tyler Stone Wealth Management now owns 1,230 shares of the industrial products company’s stock worth $577,000 after buying an additional 21 shares during the period. Finally, McLean Asset Management Corp grew its stake in shares of Deere & Company by 4.0% in the second quarter. McLean Asset Management Corp now owns 544 shares of the industrial products company’s stock worth $283,000 after purchasing an additional 21 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Deere & Company stock opened at $448.62 on Thursday. The stock’s 50 day simple moving average is $475.28 and its two-hundred day simple moving average is $487.71. 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 stock has a market cap of $121.28 billion, a price-to-earnings ratio of 23.45, a PEG ratio of 2.88 and a beta of 1.02. Deere & Company has a fifty-two week low of $387.03 and a fifty-two week high of $533.78.

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, beating the consensus estimate of $4.62 by $0.13. The business had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The business’s revenue was down 9.0% on a year-over-year basis. During the same period in the previous year, the firm posted $6.29 EPS. As a group, analysts expect that Deere & Company will post 19.32 earnings per share 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 given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Deere & Company’s payout ratio is presently 33.87%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on DE. Truist Financial raised their target price on Deere & Company from $602.00 to $609.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Evercore ISI set a $491.00 target price on Deere & Company in a research note on Tuesday, August 19th. DA Davidson cut their target price on Deere & Company from $595.00 to $580.00 and set a “buy” rating on the stock in a research note on Monday, August 18th. Jefferies Financial Group cut their target price on Deere & Company from $510.00 to $440.00 and set a “hold” rating on the stock in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised Deere & Company from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $511.76.

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.