Aull & Monroe Investment Management Corp Sells 1,666 Shares of Deere & Company $DE

Key Points

• Aull & Monroe Investment Management Corp has reduced its stake in Deere & Company by 11.3%, selling 1,666 shares during the second quarter, leaving it with 13,115 shares valued at approximately $6.67 million.
• Deere & Company reported quarterly earnings of $4.75 per share, exceeding analysts' expectations, although revenue fell 9.0% compared to the previous year.
• The company declared a quarterly dividend of $1.62 per share, which will be paid on November 10th, representing an annualized yield of 1.4%.

Aull & Monroe Investment Management Corp lowered its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 11.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,115 shares of the industrial products company's stock after selling 1,666 shares during the quarter. Deere & Company accounts for about 3.6% of Aull & Monroe Investment Management Corp's portfolio, making the stock its 4th biggest position. Aull & Monroe Investment Management Corp's holdings in Deere & Company were worth $6,669,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of DE. Brighton Jones LLC raised its position in shares of Deere & Company by 39.1% during the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock worth $1,927,000 after purchasing an additional 1,278 shares during the period. GAMMA Investing LLC raised its position in shares of Deere & Company by 30.6% during the first quarter. GAMMA Investing LLC now owns 3,735 shares of the industrial products company's stock worth $1,753,000 after purchasing an additional 876 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Deere & Company by 0.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 90,020 shares of the industrial products company's stock worth $42,250,000 after purchasing an additional 826 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in shares of Deere & Company during the first quarter worth about $233,000. Finally, Avior Wealth Management LLC raised its position in shares of Deere & Company by 1.3% during the first quarter. Avior Wealth Management LLC now owns 4,831 shares of the industrial products company's stock worth $2,268,000 after purchasing an additional 61 shares during the period. Institutional investors and hedge funds own 68.58% of the company's stock.

Deere & Company Stock Up 0.3%

DE stock opened at $458.63 on Friday. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76. The business has a 50 day moving average price of $473.24 and a two-hundred day moving average price of $487.60. The company has a market cap of $123.98 billion, a price-to-earnings ratio of 23.97, a P/E/G ratio of 2.95 and a beta of 1.02. Deere & Company has a twelve month low of $387.03 and a twelve month high of $533.78.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings results 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 the consensus estimate of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The business's revenue was down 9.0% compared to the same quarter last year. During the same period last year, the company earned $6.29 earnings per share. Analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Deere & Company's dividend payout ratio (DPR) is currently 33.87%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Evercore ISI set a $491.00 price target on Deere & Company in a research report on Tuesday, August 19th. Wolfe Research decreased their price objective on Deere & Company from $550.00 to $520.00 and set an "outperform" rating for the company in a report on Friday, October 3rd. Citigroup decreased their price objective on Deere & Company from $525.00 to $515.00 and set a "neutral" rating for the company in a report on Tuesday, October 7th. Daiwa Capital Markets decreased their price objective on Deere & Company from $565.00 to $530.00 and set an "outperform" rating for the company in a report on Thursday, September 25th. Finally, Truist Financial increased their price objective on Deere & Company from $602.00 to $609.00 and gave the stock a "buy" rating in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $517.35.

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.

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