Cigna Investments Inc. New Has $1.24 Million Stake in Deere & Company $DE

Cigna Investments Inc. New trimmed its holdings in shares of Deere & Company (NYSE:DE) by 3.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,432 shares of the industrial products company’s stock after selling 90 shares during the quarter. Cigna Investments Inc. New’s holdings in Deere & Company were worth $1,237,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. BCS Wealth Management increased its position in Deere & Company by 9.6% during the second quarter. BCS Wealth Management now owns 741 shares of the industrial products company’s stock worth $377,000 after buying an additional 65 shares during the last quarter. Norden Group LLC increased its position in Deere & Company by 12.2% during the second quarter. Norden Group LLC now owns 972 shares of the industrial products company’s stock worth $494,000 after buying an additional 106 shares during the last quarter. Legacy Financial Group LLC increased its position in Deere & Company by 2.0% during the second quarter. Legacy Financial Group LLC now owns 3,829 shares of the industrial products company’s stock worth $1,947,000 after buying an additional 74 shares during the last quarter. Accurate Wealth Management LLC increased its position in Deere & Company by 4.7% during the second quarter. Accurate Wealth Management LLC now owns 2,546 shares of the industrial products company’s stock worth $1,322,000 after buying an additional 115 shares during the last quarter. Finally, Fifth Third Bancorp increased its position in Deere & Company by 1.6% during the second quarter. Fifth Third Bancorp now owns 234,645 shares of the industrial products company’s stock worth $119,315,000 after buying an additional 3,721 shares during the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on DE shares. Oppenheimer decreased their price target 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. Melius upgraded shares of Deere & Company from a “hold” rating to a “buy” rating in a report on Friday, June 6th. Wall Street Zen upgraded shares of Deere & Company from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Citigroup decreased their price target on shares of Deere & Company from $550.00 to $525.00 and set a “neutral” rating for the company in a report on Friday, May 30th. Finally, DA Davidson decreased their price target 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 equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Deere & Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $517.27.

Deere & Company Stock Up 0.5%

NYSE DE opened at $471.57 on Wednesday. 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 50-day simple moving average of $491.82 and a 200 day simple moving average of $490.03. Deere & Company has a twelve month low of $387.03 and a twelve month high of $533.78. The stock has a market cap of $127.48 billion, a PE ratio of 24.65, a PEG ratio of 3.02 and a beta of 1.00.

Deere & Company (NYSE:DE) last released its earnings results 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. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The business had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.33 billion. During the same quarter last year, the company earned $6.29 earnings per share. The firm’s revenue was down 9.0% on a year-over-year basis. On average, research analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be paid 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 yield of 1.4%. Deere & Company’s dividend payout ratio (DPR) 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.