Deere & Company $DE Shares Sold by AQR Capital Management LLC

Key Points

• AQR Capital Management LLC sold 695 shares of Deere & Company, reducing its position by 2.3%, with remaining holdings valued at approximately $13.56 million.
• Analysts have mixed views on the stock, with price targets ranging from $525.00 to $602.00, while it currently holds a consensus rating of "Moderate Buy".
• Deere & Company recently reported $4.75 EPS for the quarter, surpassing expectations, and announced a quarterly dividend of $1.62 payable on November 10th.

AQR Capital Management LLC reduced its position in Deere & Company (NYSE:DE - Free Report) by 2.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,475 shares of the industrial products company's stock after selling 695 shares during the quarter. AQR Capital Management LLC's holdings in Deere & Company were worth $13,562,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Activest Wealth Management grew 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 position in Deere & Company in the first quarter worth $29,000. Cornerstone Planning Group LLC grew 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. Orion Capital Management LLC purchased a new position in Deere & Company in the fourth quarter worth $34,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in shares of Deere & Company during the fourth quarter valued at $39,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Performance

NYSE DE traded down $5.11 on Friday, reaching $471.35. 1,764,539 shares of the company's stock traded hands, compared to its average volume of 1,291,817. The stock has a 50 day moving average price of $498.30 and a 200-day moving average price of $490.35. 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 $386.42 and a fifty-two week high of $533.78. The firm has a market cap of $127.42 billion, a price-to-earnings ratio of 24.64, a P/E/G ratio of 3.06 and a beta of 1.00.

Deere & Company (NYSE:DE - Get Free Report) last posted its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $10.33 billion. During the same period in the prior year, the company posted $6.29 EPS. The company's revenue for the quarter was down 9.0% on a year-over-year basis. Equities research analysts predict that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Deere & Company's dividend payout ratio is presently 33.87%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on DE shares. Truist Financial dropped their price objective 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. Oppenheimer boosted their price objective on shares of Deere & Company from $560.00 to $566.00 and gave the company an "outperform" rating in a report on Friday, August 15th. Melius Research raised shares of Deere & Company from a "hold" rating to a "strong-buy" rating in a report on Friday, June 6th. JPMorgan Chase & Co. dropped their price objective 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. Finally, Wall Street Zen lowered shares of Deere & Company from a "hold" rating to a "sell" rating in a report on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $520.87.

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.