Deere & Company $DE Shares Sold by Cidel Asset Management Inc.

Cidel Asset Management Inc. lessened its stake in shares of Deere & Company (NYSE:DE) by 2.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,053 shares of the industrial products company’s stock after selling 52 shares during the quarter. Cidel Asset Management Inc.’s holdings in Deere & Company were worth $1,044,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in DE. Activest Wealth Management increased its stake in shares of Deere & Company by 2,750.0% during the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 55 shares during the period. Hughes Financial Services LLC acquired a new position in shares of Deere & Company during the first quarter valued at approximately $29,000. Cornerstone Planning Group LLC increased its stake 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 valued at $31,000 after acquiring an additional 36 shares during the period. Marshall & Sullivan Inc. WA acquired a new position in shares of Deere & Company during the second quarter valued at approximately $38,000. Finally, Livelsberger Financial Advisory acquired a new position in shares of Deere & Company during the second quarter valued at approximately $39,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Trading Up 0.3%

Deere & Company stock opened at $458.63 on Friday. The company has a 50 day moving average price of $473.24 and a 200 day moving average price of $487.60. Deere & Company has a 52 week low of $387.03 and a 52 week high of $533.78. 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 firm has a market capitalization of $123.98 billion, a price-to-earnings ratio of 23.97, a P/E/G ratio of 2.95 and a beta of 1.02.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $10.33 billion. During the same quarter last year, the business posted $6.29 EPS. The company’s revenue was down 9.0% on a year-over-year basis. Research analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be paid a $1.62 dividend. The ex-dividend date of this dividend 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 (DPR) is currently 33.87%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Truist Financial raised their target price on shares of Deere & Company from $602.00 to $609.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Citigroup reduced their target price on shares of Deere & Company from $525.00 to $515.00 and set a “neutral” rating for the company in a report on Tuesday, October 7th. Oppenheimer reduced their target price on shares of Deere & Company from $566.00 to $512.00 and set an “outperform” rating for the company in a report on Thursday, September 18th. Evercore ISI set a $491.00 target price on shares of Deere & Company in a 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 report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, Deere & Company presently has an average rating of “Moderate Buy” and an average price target of $517.35.

Deere & Company 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.