Deere & Company $DE Shares Sold by Aberdeen Group plc

Aberdeen Group plc decreased its holdings in shares of Deere & Company (NYSE:DE) by 10.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 254,990 shares of the industrial products company’s stock after selling 31,076 shares during the period. Aberdeen Group plc’s holdings in Deere & Company were worth $171,239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Baxter Bros Inc. bought a new stake in Deere & Company during the 2nd quarter valued at $1,707,000. Global Retirement Partners LLC bought a new position in shares of Deere & Company during the 2nd quarter worth $3,890,000. Nykredit A S purchased a new position in shares of Deere & Company during the second quarter valued at $44,378,000. TRB Wealth Management LLC purchased a new position in shares of Deere & Company during the second quarter valued at $623,000. Finally, NewEdge Advisors LLC increased its stake in shares of Deere & Company by 11.8% during the second quarter. NewEdge Advisors LLC now owns 43,459 shares of the industrial products company’s stock valued at $27,567,000 after buying an additional 4,586 shares during the period. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

DE opened at $672.74 on Friday. Deere & Company has a 52-week low of $455.90 and a 52-week high of $721.22. The company has a quick ratio of 1.89, a current ratio of 2.10 and a debt-to-equity ratio of 1.45. The company has a market cap of $181.38 billion, a P/E ratio of 37.37, a price-to-earnings-growth ratio of 1.92 and a beta of 0.89. The firm’s 50-day moving average price is $668.36 and its 200-day moving average price is $612.22.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, August 20th. The industrial products company reported $5.10 earnings per share for the quarter, beating analysts’ consensus estimates of $4.69 by $0.41. The firm had revenue of $12.61 billion for the quarter, compared to analyst estimates of $10.81 billion. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the company earned $4.75 earnings per share. As a group, equities analysts anticipate that Deere & Company will post 18.11 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 9th. Shareholders of record on Wednesday, September 30th were issued a $1.62 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.0%. Deere & Company’s payout ratio is presently 36.00%.

Wall Street Analysts Forecast Growth

DE has been the subject of a number of research reports. Truist Financial lowered their price objective on shares of Deere & Company from $812.00 to $804.00 and set a “buy” rating for the company in a research note on Monday, August 24th. JPMorgan Chase & Co. raised their target price on shares of Deere & Company from $585.00 to $625.00 and gave the company a “neutral” rating in a research report on Thursday, October 8th. CICC Research began coverage on shares of Deere & Company in a report on Sunday, September 13th. They issued an “outperform” rating for the company. Oppenheimer upped their price target on shares of Deere & Company from $680.00 to $685.00 and gave the stock an “outperform” rating in a research report on Thursday, August 20th. Finally, Evercore upgraded shares of Deere & Company from an “in-line” rating to an “outperform” rating and set a $813.00 price objective on the stock in a research note on Wednesday, September 2nd. Seventeen investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $688.10.

Deere & Company Company Profile

Deere & Company, commonly known as John Deere, manufactures and distributes equipment and technology for agriculture, construction, forestry, and lawn care. Its products include tractors, combines, planting and spraying equipment, construction machinery, forestry equipment, and turf-care products, along with related parts and services. The company also provides precision agriculture technologies designed to help customers monitor and manage equipment and field operations. Through its Financial Services business, Deere offers financing and leasing options for equipment and related products.