3Chopt Investment Partners LLC cut its stake in Deere & Company (NYSE:DE - Free Report) by 28.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,175 shares of the industrial products company's stock after selling 851 shares during the period. 3Chopt Investment Partners LLC's holdings in Deere & Company were worth $1,109,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Activest Wealth Management increased its holdings 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 buying an additional 55 shares during the last quarter. Hughes Financial Services LLC purchased a new stake in Deere & Company during the first quarter valued at about $29,000. Cornerstone Planning Group LLC grew its position 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 valued at $31,000 after acquiring an additional 36 shares during the period. Marshall & Sullivan Inc. WA acquired a new position in shares of Deere & Company in the 2nd quarter valued at about $38,000. Finally, Livelsberger Financial Advisory acquired a new position in shares of Deere & Company in the 2nd quarter valued at about $39,000. Hedge funds and other institutional investors own 68.58% of the company's stock.
Analyst Ratings Changes
Several research analysts recently commented on DE shares. 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. Wall Street Zen raised shares of Deere & Company from a "sell" rating to a "hold" rating in a research report on Saturday, October 4th. Truist Financial upped their price target 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 decreased their price target on shares of Deere & Company from $525.00 to $515.00 and set a "neutral" rating for the company in a research report on Tuesday. Finally, Jefferies Financial Group reduced their price objective on Deere & Company from $510.00 to $440.00 and set a "hold" rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, Deere & Company currently has a consensus rating of "Moderate Buy" and an average target price of $513.88.
Read Our Latest Research Report on DE
Deere & Company Stock Down 1.1%
Shares of NYSE DE opened at $455.73 on Friday. Deere & Company has a 1 year low of $387.03 and a 1 year high of $533.78. The firm has a market cap of $123.20 billion, a price-to-earnings ratio of 23.82, a PEG ratio of 2.97 and a beta of 1.02. 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 stock's 50-day simple moving average is $480.23 and its 200-day simple moving average is $488.58.
Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.Deere & Company's quarterly revenue was down 9.0% on a year-over-year basis. During the same quarter last year, the firm earned $6.29 EPS. As a group, equities analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.
Deere & Company Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be given a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. Deere & Company's payout ratio is presently 33.87%.
About Deere & Company
(
Free Report)
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.
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