Deere & Company $DE Holdings Cut by Abundance Wealth Counselors

Abundance Wealth Counselors decreased its stake in Deere & Company (NYSE:DE) by 2.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,683 shares of the industrial products company’s stock after selling 90 shares during the quarter. Abundance Wealth Counselors’ holdings in Deere & Company were worth $1,858,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Southland Equity Partners LLC lifted its position in Deere & Company by 3.9% in the 2nd quarter. Southland Equity Partners LLC now owns 534 shares of the industrial products company’s stock worth $271,000 after buying an additional 20 shares in the last quarter. Chicago Partners Investment Group LLC lifted its position in Deere & Company by 1.2% in the 1st quarter. Chicago Partners Investment Group LLC now owns 1,803 shares of the industrial products company’s stock worth $852,000 after buying an additional 21 shares in the last quarter. Tyler Stone Wealth Management lifted its position in Deere & Company by 1.7% in the 1st quarter. Tyler Stone Wealth Management now owns 1,230 shares of the industrial products company’s stock worth $577,000 after buying an additional 21 shares in the last quarter. McLean Asset Management Corp lifted its position in Deere & Company by 4.0% in the 2nd quarter. McLean Asset Management Corp now owns 544 shares of the industrial products company’s stock worth $283,000 after buying an additional 21 shares in the last quarter. Finally, Trilogy Capital Inc. lifted its position in Deere & Company by 1.3% in the 2nd quarter. Trilogy Capital Inc. now owns 1,692 shares of the industrial products company’s stock worth $860,000 after buying an additional 21 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on DE. Melius upgraded shares of Deere & Company from a “hold” rating to a “buy” rating in a report on Friday, June 6th. Evercore ISI set a $491.00 price target on shares of Deere & Company in a report on Tuesday, August 19th. JPMorgan Chase & Co. cut their price target on shares of Deere & Company from $500.00 to $495.00 and set a “neutral” rating on the stock in a report on Tuesday, September 2nd. Oppenheimer cut their price target on shares of Deere & Company from $566.00 to $512.00 and set an “outperform” rating on the stock in a report on Thursday, September 18th. Finally, Truist Financial cut their price target on shares of Deere & Company from $619.00 to $602.00 and set a “buy” rating on the stock in a report on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, Deere & Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $518.06.

Deere & Company Stock Performance

Shares of DE opened at $461.88 on Friday. The company has a market capitalization of $124.86 billion, a PE ratio of 24.14, a price-to-earnings-growth ratio of 2.91 and a beta of 1.03. Deere & Company has a one year low of $387.03 and a one year high of $533.78. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. The company’s fifty day moving average price is $485.74 and its 200 day moving average price is $489.22.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, topping the consensus estimate of $4.62 by $0.13. The firm had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The business’s quarterly revenue was down 9.0% on a year-over-year basis. During the same quarter last year, the firm posted $6.29 EPS. As a group, analysts expect that Deere & Company will post 19.32 earnings per share for the current 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 issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Deere & Company’s dividend payout ratio (DPR) is 33.87%.

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.