Capital Investment Advisors LLC Sells 996 Shares of Deere & Company $DE

Key Points

• Capital Investment Advisors LLC has sold 996 shares of Deere & Company, reducing its ownership stake by 6.8%, leaving it with 13,583 shares valued at approximately $6.9 million.
• Wall Street analysts have varied ratings on Deere & Company, with an average price target of $518.06, indicating a generally optimistic outlook despite some price target reductions.
• Deere & Company recently announced a $1.62 quarterly dividend, which will be paid on November 10th, with a yield of 1.4% and a payout ratio of 33.87%.

Capital Investment Advisors LLC reduced its stake in Deere & Company (NYSE:DE - Free Report) by 6.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,583 shares of the industrial products company's stock after selling 996 shares during the quarter. Capital Investment Advisors LLC's holdings in Deere & Company were worth $6,907,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Assenagon Asset Management S.A. boosted its position in shares of Deere & Company by 58.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company's stock worth $6,395,000 after purchasing an additional 5,053 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd boosted its position in shares of Deere & Company by 10.7% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company's stock worth $3,863,000 after purchasing an additional 798 shares in the last quarter. Providence Capital Advisors LLC boosted its position in shares of Deere & Company by 2.1% in the 1st quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company's stock worth $6,871,000 after purchasing an additional 303 shares in the last quarter. Bragg Financial Advisors Inc boosted its position in shares of Deere & Company by 12.7% in the 1st quarter. Bragg Financial Advisors Inc now owns 7,213 shares of the industrial products company's stock worth $3,386,000 after purchasing an additional 813 shares in the last quarter. Finally, ASR Vermogensbeheer N.V. bought a new stake in shares of Deere & Company in the 1st quarter worth approximately $13,588,000. 68.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Oppenheimer lowered their price objective on Deere & Company from $566.00 to $512.00 and set an "outperform" rating on the stock in a research report on Thursday, September 18th. Melius raised Deere & Company from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Daiwa Capital Markets lowered their price objective on Deere & Company from $565.00 to $530.00 and set an "outperform" rating on the stock in a research report on Thursday, September 25th. Truist Financial lowered their price objective on Deere & Company from $619.00 to $602.00 and set a "buy" rating on the stock in a research report on Friday, August 15th. Finally, DA Davidson lowered 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. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, Deere & Company currently has a consensus rating of "Moderate Buy" and an average price target of $518.06.

Deere & Company Price Performance

Shares of Deere & Company stock opened at $465.09 on Tuesday. Deere & Company has a one year low of $387.03 and a one year high of $533.78. The stock's fifty day moving average is $489.05 and its 200 day moving average is $489.85. The stock has a market cap of $125.73 billion, a P/E ratio of 24.31, a P/E/G ratio of 2.99 and a beta of 1.00. 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 (NYSE:DE - Get Free Report) last announced its earnings results 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 return on equity of 21.97% and a net margin of 11.72%.The company had revenue of $10.36 billion for the quarter, compared to analysts' expectations of $10.33 billion. During the same period last year, the firm earned $6.29 EPS. Deere & Company's revenue for the quarter was down 9.0% compared to the same quarter last year. Sell-side analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The business 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 yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Deere & Company's dividend payout ratio (DPR) is currently 33.87%.

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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