Boston Common Asset Management LLC Lowers Stock Holdings in Deere & Company $DE

Key Points

• Boston Common Asset Management LLC reduced its stake in Deere & Company by 8.2%, holding 10,691 shares valued at approximately $5.43 million after selling 956 shares during the second quarter.
• Wall Street analysts have set a consensus target price of $518.18 for Deere's stock, with ratings ranging from "Strong Buy" to "Hold" as several analysts have adjusted their price targets recently.
• Deere & Company recently reported earnings of $4.75 per share, exceeding analysts' expectations, though revenue declined by 9% year-over-year with a reported $10.36 billion for the quarter.

Boston Common Asset Management LLC reduced its position in Deere & Company (NYSE:DE - Free Report) by 8.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 10,691 shares of the industrial products company's stock after selling 956 shares during the period. Boston Common Asset Management LLC's holdings in Deere & Company were worth $5,436,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Brighton Jones LLC grew its stake in shares of Deere & Company by 39.1% during the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock valued at $1,927,000 after buying an additional 1,278 shares during the period. Vest Financial LLC grew its stake in shares of Deere & Company by 73.5% during the 1st quarter. Vest Financial LLC now owns 3,837 shares of the industrial products company's stock valued at $1,801,000 after buying an additional 1,626 shares during the period. Magnus Financial Group LLC grew its stake in shares of Deere & Company by 2.8% during the 1st quarter. Magnus Financial Group LLC now owns 1,219 shares of the industrial products company's stock valued at $572,000 after buying an additional 33 shares during the period. Procyon Advisors LLC grew its stake in shares of Deere & Company by 2.6% during the 1st quarter. Procyon Advisors LLC now owns 6,492 shares of the industrial products company's stock valued at $3,047,000 after buying an additional 166 shares during the period. Finally, Pines Wealth Management LLC grew its stake in shares of Deere & Company by 15.9% during the 1st quarter. Pines Wealth Management LLC now owns 618 shares of the industrial products company's stock valued at $290,000 after buying an additional 85 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DE has been the subject of several research reports. Evercore ISI set a $491.00 price objective on shares of Deere & Company in a research note on Tuesday, August 19th. Wolfe Research decreased their price target on shares of Deere & Company from $550.00 to $520.00 and set an "outperform" rating for the company in a research report on Friday. Truist Financial decreased their price target on shares of Deere & Company from $619.00 to $602.00 and set a "buy" rating for the company in a research report on Friday, August 15th. JPMorgan Chase & Co. decreased their price target on shares of Deere & Company from $500.00 to $495.00 and set a "neutral" rating for the company in a research report on Tuesday, September 2nd. Finally, Wall Street Zen raised shares of Deere & Company from a "sell" rating to a "hold" rating in a research report on Saturday. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $518.18.

Deere & Company Stock Performance

Shares of DE stock opened at $462.59 on Friday. Deere & Company has a 12 month low of $387.03 and a 12 month high of $533.78. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. The firm has a market capitalization of $125.05 billion, a P/E ratio of 24.18, a P/E/G ratio of 2.98 and a beta of 1.02. The company's fifty day moving average price is $484.64 and its two-hundred day moving average price is $489.15.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, topping 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 firm had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.33 billion. During the same quarter in the previous year, the business posted $6.29 EPS. The firm's revenue was down 9.0% compared to the same quarter last year. On average, research 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 paid 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 33.87%.

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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