Deere & Company $DE Shares Sold by Capital Investment Counsel Inc

Capital Investment Counsel Inc decreased its stake in shares of Deere & Company (NYSE:DE) by 8.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,265 shares of the industrial products company’s stock after selling 110 shares during the quarter. Capital Investment Counsel Inc’s holdings in Deere & Company were worth $643,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in DE. ABN Amro Investment Solutions purchased a new stake in shares of Deere & Company during the second quarter worth approximately $116,035,000. Cherokee Insurance Co purchased a new stake in shares of Deere & Company in the 2nd quarter valued at approximately $305,000. Candriam S.C.A. raised its holdings in shares of Deere & Company by 73.7% in the 2nd quarter. Candriam S.C.A. now owns 33,820 shares of the industrial products company’s stock valued at $17,198,000 after purchasing an additional 14,349 shares in the last quarter. Police & Firemen s Retirement System of New Jersey lifted its position in shares of Deere & Company by 2.3% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 37,124 shares of the industrial products company’s stock worth $18,877,000 after purchasing an additional 841 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Deere & Company by 2.1% during the second quarter. Geode Capital Management LLC now owns 5,541,778 shares of the industrial products company’s stock worth $2,810,807,000 after purchasing an additional 111,627 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Truist Financial raised their price target on Deere & Company from $602.00 to $609.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Deere & Company in a research report on Tuesday. Royal Bank Of Canada began coverage on Deere & Company in a research report on Wednesday, October 22nd. They set an “outperform” rating and a $542.00 target price on the stock. Citigroup lowered their price target on Deere & Company from $525.00 to $515.00 and set a “neutral” rating for the company in a report on Tuesday, October 7th. Finally, Daiwa Capital Markets dropped their price target on shares of Deere & Company from $565.00 to $530.00 and set an “outperform” rating on the stock in a research note on Thursday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $518.72.

Deere & Company Price Performance

DE stock opened at $479.22 on Thursday. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. The company has a market capitalization of $129.55 billion, a P/E ratio of 25.05, a PEG ratio of 3.05 and a beta of 1.04. The business has a 50 day simple moving average of $466.00 and a 200-day simple moving average of $490.69. Deere & Company has a twelve month low of $387.03 and a twelve month high of $533.78.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating analysts’ consensus estimates of $4.62 by $0.13. The business had revenue of $10.36 billion for 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 quarterly revenue was down 9.0% on a year-over-year basis. During the same period in the previous year, the company posted $6.29 EPS. As a group, equities analysts anticipate that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th were paid a $1.62 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.4%. Deere & Company’s payout ratio 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.