CSM Advisors LLC Cuts Position in Deere & Company $DE

Key Points

• CSM Advisors LLC reduced its holdings in Deere & Company by 56.6% in the 1st quarter, resulting in ownership of 14,591 shares valued at $6.85 million.
• Deere & Company reported an EPS of $4.75 in its recent quarterly earnings, exceeding consensus estimates of $4.62, while the company's revenue fell by 9.0% year-over-year.
• The company declared a quarterly dividend of $1.62 per share, reflecting an annualized dividend yield of 1.3%.

CSM Advisors LLC lessened its stake in Deere & Company (NYSE:DE - Free Report) by 56.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,591 shares of the industrial products company's stock after selling 19,066 shares during the quarter. CSM Advisors LLC's holdings in Deere & Company were worth $6,849,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of DE. GAMMA Investing LLC raised its holdings in shares of Deere & Company by 61,215.9% in the 1st quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company's stock worth $822,781,000 after purchasing an additional 1,750,163 shares during the period. Castlekeep Investment Advisors LLC bought a new stake in shares of Deere & Company in the 4th quarter worth approximately $541,437,000. Nuveen LLC bought a new stake in shares of Deere & Company in the 1st quarter worth approximately $571,073,000. Leigh Baldwin & CO. LLC bought a new stake in shares of Deere & Company in the 4th quarter worth approximately $255,686,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Deere & Company in the 4th quarter worth approximately $149,057,000. Institutional investors own 68.58% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on DE shares. Melius upgraded shares of Deere & Company from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Citigroup reduced their price objective on shares of Deere & Company from $550.00 to $525.00 and set a "neutral" rating for the company in a research note on Friday, May 30th. Barclays lifted their price objective on shares of Deere & Company from $475.00 to $530.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. BMO Capital Markets reiterated a "market perform" rating and issued a $460.00 price objective (up from $425.00) on shares of Deere & Company in a research note on Wednesday, May 21st. Finally, Truist Financial reduced their price objective on shares of Deere & Company from $619.00 to $602.00 and set a "buy" rating for the company in a research note on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $523.87.

Deere & Company Price Performance

Shares of DE traded up $5.68 during mid-day trading on Wednesday, reaching $493.44. 912,393 shares of the stock traded hands, compared to its average volume of 1,488,387. The firm has a fifty day moving average price of $506.54 and a 200 day moving average price of $490.93. The company has a market cap of $133.64 billion, a price-to-earnings ratio of 25.79, a price-to-earnings-growth ratio of 3.13 and a beta of 1.06. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. Deere & Company has a 1 year low of $374.46 and a 1 year high of $533.78.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS 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 analyst estimates of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The business's revenue for the quarter was down 9.0% on a year-over-year basis. During the same period in the previous year, the business earned $6.29 EPS. As a group, equities research analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

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 given a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.3%. Deere & Company's dividend payout ratio (DPR) is presently 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.