Means Investment CO. Inc. Reduces Position in Deere & Company $DE

Means Investment CO. Inc. trimmed its position in Deere & Company (NYSE:DE) by 4.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,675 shares of the industrial products company’s stock after selling 113 shares during the quarter. Means Investment CO. Inc.’s holdings in Deere & Company were worth $1,360,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of DE. Activest Wealth Management boosted its position in shares of Deere & Company by 2,750.0% during the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 55 shares in the last quarter. Hughes Financial Services LLC purchased a new stake in Deere & Company during the first quarter worth approximately $29,000. Cornerstone Planning Group LLC lifted its stake in Deere & Company by 116.1% during 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 acquired a new position in Deere & Company in the second quarter valued at approximately $38,000. Finally, Livelsberger Financial Advisory purchased a new position in Deere & Company in the second quarter valued at approximately $39,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Trading Down 2.1%

Shares of Deere & Company stock opened at $446.76 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. The company has a market capitalization of $120.77 billion, a P/E ratio of 23.35, a PEG ratio of 2.87 and a beta of 1.02. Deere & Company has a 1 year low of $387.03 and a 1 year high of $533.78. The company’s fifty day moving average is $479.15 and its two-hundred day moving average is $488.39.

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. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The business had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.33 billion. During the same period in the prior year, the company earned $6.29 earnings per share. The business’s revenue was down 9.0% compared to the same quarter last year. Analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Tuesday, September 30th. Deere & Company’s dividend payout ratio (DPR) is 33.87%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Truist Financial boosted their price objective on shares of Deere & Company from $602.00 to $609.00 and gave the stock a “buy” rating in a research report on Wednesday. Citigroup cut their price target on shares of Deere & Company from $525.00 to $515.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 7th. Jefferies Financial Group reduced their price target on shares of Deere & Company from $510.00 to $440.00 and set a “hold” rating for the company in a research report on Wednesday. Wolfe Research dropped their price objective on Deere & Company from $550.00 to $520.00 and set an “outperform” rating on the stock in a report on Friday, October 3rd. Finally, DA Davidson cut their target price on Deere & Company from $595.00 to $580.00 and set a “buy” rating on the stock in a research report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, Deere & Company currently has an average rating of “Moderate Buy” and an average target price of $513.88.

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.