Clarius Group LLC Reduces Stock Position in Deere & Company $DE

Clarius Group LLC lowered its stake in Deere & Company (NYSE:DE) by 8.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,564 shares of the industrial products company’s stock after selling 240 shares during the quarter. Clarius Group LLC’s holdings in Deere & Company were worth $1,304,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DE. Activest Wealth Management boosted its holdings in Deere & Company by 2,750.0% in the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 55 shares during the last quarter. Hughes Financial Services LLC purchased a new stake in Deere & Company in the first quarter worth approximately $29,000. Cornerstone Planning Group LLC boosted its holdings in Deere & Company by 116.1% in the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 36 shares during the last quarter. Marshall & Sullivan Inc. WA purchased a new stake in Deere & Company in the second quarter worth approximately $38,000. Finally, Livelsberger Financial Advisory purchased a new stake in Deere & Company in the second quarter worth approximately $39,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Up 0.2%

DE opened at $462.59 on Friday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. Deere & Company has a fifty-two week low of $387.03 and a fifty-two week high of $533.78. The firm’s fifty day moving average is $484.64 and its 200 day moving average is $489.15. The stock has a market cap of $125.05 billion, a price-to-earnings ratio of 24.18, a price-to-earnings-growth ratio of 2.98 and a beta of 1.02.

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 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 company had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.33 billion. During the same quarter in the previous year, the company earned $6.29 EPS. Deere & Company’s revenue for the quarter was down 9.0% on a year-over-year basis. On average, sell-side analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors 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 dividend yield of 1.4%. Deere & Company’s payout ratio is 33.87%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. DA Davidson dropped their price target on shares of Deere & Company from $595.00 to $580.00 and set a “buy” rating on the stock in a research note on Monday, August 18th. Wall Street Zen upgraded shares of Deere & Company from a “sell” rating to a “hold” rating in a research note on Saturday. Wolfe Research dropped their price target on shares of Deere & Company from $550.00 to $520.00 and set an “outperform” rating on the stock in a research note on Friday. Evercore ISI set a $491.00 price target on shares of Deere & Company in a research note on Tuesday, August 19th. Finally, Truist Financial dropped their price target on shares of Deere & Company from $619.00 to $602.00 and set a “buy” rating on the stock in a research note on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $518.18.

About Deere & Company

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.