Capital Management Associates Inc Lowers Position in Deere & Company $DE

Key Points

• Capital Management Associates Inc reduced its position in Deere & Company by 33.5% during the second quarter, holding 2,527 shares valued at approximately $1.29 million.
• Deere & Company reported earnings per share of $4.75 for the last quarter, exceeding analysts' expectations of $4.62, although revenue fell 9.0% year-over-year.
• The company announced a quarterly dividend of $1.62, with a dividend yield of 1.4%, to be paid on November 10th for shareholders recorded by September 30th.

Capital Management Associates Inc lessened its position in Deere & Company (NYSE:DE - Free Report) by 33.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,527 shares of the industrial products company's stock after selling 1,271 shares during the quarter. Capital Management Associates Inc's holdings in Deere & Company were worth $1,285,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in DE. Brighton Jones LLC lifted its stake in shares of Deere & Company by 39.1% in the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock valued at $1,927,000 after purchasing an additional 1,278 shares during the period. Portside Wealth Group LLC raised its stake in Deere & Company by 18.7% during the first quarter. Portside Wealth Group LLC now owns 693 shares of the industrial products company's stock valued at $325,000 after buying an additional 109 shares during the last quarter. Farther Finance Advisors LLC raised its stake in Deere & Company by 27.4% during the first quarter. Farther Finance Advisors LLC now owns 3,220 shares of the industrial products company's stock valued at $1,541,000 after buying an additional 692 shares during the last quarter. GAMMA Investing LLC raised its stake in Deere & Company by 30.6% during the first quarter. GAMMA Investing LLC now owns 3,735 shares of the industrial products company's stock valued at $1,753,000 after buying an additional 876 shares during the last quarter. Finally, Simplicity Wealth LLC raised its stake in Deere & Company by 91.5% during the first quarter. Simplicity Wealth LLC now owns 1,061 shares of the industrial products company's stock valued at $498,000 after buying an additional 507 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company's stock.

Deere & Company Stock Down 0.1%

DE stock opened at $461.06 on Thursday. Deere & Company has a 1-year low of $387.03 and a 1-year high of $533.78. The business has a fifty day moving average price of $481.60 and a 200-day moving average price of $488.75. 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 stock has a market capitalization of $124.64 billion, a P/E ratio of 24.10, a P/E/G ratio of 2.97 and a beta of 1.02.

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 the consensus estimate of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The firm had revenue of $10.36 billion during the quarter, compared to analysts' expectations of $10.33 billion. During the same quarter in the previous year, the business earned $6.29 earnings per share. The company's revenue was down 9.0% on a year-over-year basis. Equities analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.4%. Deere & Company's payout ratio is presently 33.87%.

Wall Street Analysts Forecast Growth

DE has been the subject of a number of recent research reports. 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. Truist Financial lifted their price objective on Deere & Company from $602.00 to $609.00 and gave the company a "buy" rating in a research note on Wednesday. Daiwa Capital Markets lowered their price objective on Deere & Company from $565.00 to $530.00 and set an "outperform" rating for the company in a research note on Thursday, September 25th. Wolfe Research lowered their price objective on Deere & Company from $550.00 to $520.00 and set an "outperform" rating for the company in a research note on Friday, October 3rd. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Deere & Company in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $518.59.

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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