BDF Gestion Has $2.81 Million Stock Position in Deere & Company $DE

Key Points

• BDF Gestion has reduced its stake in Deere & Company by 9.8%, bringing its total shares to 5,532 valued at approximately $2.81 million as of the latest SEC filing.
• Deere's quarterly earnings exceeded analysts' expectations, reporting $4.75 earnings per share and revenues of $10.36 billion, although revenue was down 9.0% year-over-year.
• The company announced a quarterly dividend of $1.62, with an annualized yield of 1.4%, to be paid on November 10th with record date on September 30th.

BDF Gestion lessened its holdings in Deere & Company (NYSE:DE - Free Report) by 9.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,532 shares of the industrial products company's stock after selling 604 shares during the quarter. BDF Gestion's holdings in Deere & Company were worth $2,813,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Activest Wealth Management increased its holdings in shares of Deere & Company by 2,750.0% during 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 period. Hughes Financial Services LLC acquired a new position in Deere & Company in the first quarter valued at about $29,000. Cornerstone Planning Group LLC increased its holdings in Deere & Company by 116.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock valued at $31,000 after buying an additional 36 shares during the period. Marshall & Sullivan Inc. WA bought a new stake in shares of Deere & Company during the 2nd quarter worth approximately $38,000. Finally, Livelsberger Financial Advisory bought a new position in Deere & Company in the second quarter valued at approximately $39,000. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Performance

Shares of DE opened at $469.99 on Friday. Deere & Company has a one year low of $387.03 and a one year high of $533.78. The company has a market cap of $127.05 billion, a PE ratio of 24.57, a P/E/G ratio of 3.06 and a beta of 1.00. The stock has a 50-day moving average of $493.23 and a 200-day moving average of $490.17. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98.

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, topping analysts' consensus estimates of $4.62 by $0.13. The business had revenue of $10.36 billion for 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 firm's revenue for the quarter was down 9.0% on a year-over-year basis. During the same period in the prior year, the business earned $6.29 EPS. On average, equities research analysts predict that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Deere & Company's dividend payout ratio is currently 33.87%.

Wall Street Analysts Forecast Growth

DE has been the topic of several research analyst reports. Truist Financial reduced their price objective on Deere & Company from $619.00 to $602.00 and set a "buy" rating on the stock in a research note on Friday, August 15th. DA Davidson reduced their price objective 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. JPMorgan Chase & Co. lowered their price objective on Deere & Company from $500.00 to $495.00 and set a "neutral" rating for the company in a research note on Tuesday, September 2nd. Melius raised shares of Deere & Company from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Finally, Oppenheimer reduced their price objective on shares of Deere & Company from $566.00 to $512.00 and set an "outperform" rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, Deere & Company currently has a consensus rating of "Moderate Buy" and a consensus target price of $517.27.

About Deere & Company

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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