Deere & Company $DE Shares Sold by OFI Invest Asset Management

OFI Invest Asset Management lessened its stake in Deere & Company (NYSE:DE) by 0.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 5,949 shares of the industrial products company’s stock after selling 54 shares during the period. OFI Invest Asset Management’s holdings in Deere & Company were worth $3,025,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in DE. Nuveen LLC acquired a new stake in Deere & Company in the 1st quarter valued at approximately $571,073,000. Voya Investment Management LLC grew its stake in shares of Deere & Company by 97.1% in the first quarter. Voya Investment Management LLC now owns 733,871 shares of the industrial products company’s stock worth $344,442,000 after acquiring an additional 361,526 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Deere & Company by 4.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock worth $3,227,258,000 after acquiring an additional 286,253 shares in the last quarter. Invesco Ltd. grew its stake in shares of Deere & Company by 23.4% in the first quarter. Invesco Ltd. now owns 1,353,255 shares of the industrial products company’s stock worth $635,150,000 after acquiring an additional 256,806 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of Deere & Company by 874.8% in the second quarter. Robeco Institutional Asset Management B.V. now owns 243,914 shares of the industrial products company’s stock worth $124,028,000 after acquiring an additional 218,893 shares in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Robert W. Baird dropped their price target on shares of Deere & Company from $520.00 to $488.00 and set a “neutral” rating for the company in a research note on Friday, August 15th. Truist Financial boosted their price target on shares of Deere & Company from $602.00 to $609.00 and gave the stock a “buy” rating in a research note on Wednesday. Oppenheimer dropped their price target on shares of Deere & Company from $566.00 to $512.00 and set an “outperform” rating for the company in a research note on Thursday, September 18th. Wall Street Zen upgraded shares of Deere & Company from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. Finally, Wolfe Research dropped their price target on shares of Deere & Company from $550.00 to $520.00 and set an “outperform” rating for the company in a research note on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $513.88.

Deere & Company Price Performance

Deere & Company stock opened at $446.76 on Friday. The stock has a market cap of $120.77 billion, a P/E ratio of 23.35, a price-to-earnings-growth ratio of 2.87 and a beta of 1.02. The company has a fifty day simple moving average of $479.15 and a 200-day simple moving average of $488.39. Deere & Company has a 12-month low of $387.03 and a 12-month high of $533.78. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.62 by $0.13. The business had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The company’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same period in the previous year, the company earned $6.29 EPS. Equities analysts expect that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be given 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 1.5%. Deere & Company’s payout ratio is 33.87%.

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.