CWA Asset Management Group LLC Sells 6,975 Shares of Deere & Company $DE

Key Points

• CWA Asset Management Group LLC has reduced its stake in Deere & Company by 21.5%, selling 6,975 shares and now holding a total of 25,398 shares worth approximately $12.92 million.
• Deere & Company has declared a quarterly dividend of $1.62, which will be paid on November 10th, with a 1.4% dividend yield.
• Analysts have varying opinions on Deere's stock, with a mix of ratings ranging from strong-buy to sell, and an average target price set at $518.06.

CWA Asset Management Group LLC cut its stake in shares of Deere & Company (NYSE:DE - Free Report) by 21.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,398 shares of the industrial products company's stock after selling 6,975 shares during the quarter. CWA Asset Management Group LLC's holdings in Deere & Company were worth $12,915,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Fort Washington Investment Advisors Inc. OH boosted its position in shares of Deere & Company by 25.5% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 84,863 shares of the industrial products company's stock worth $43,152,000 after purchasing an additional 17,234 shares in the last quarter. Guyasuta Investment Advisors Inc. raised its stake in Deere & Company by 105.0% during the 2nd quarter. Guyasuta Investment Advisors Inc. now owns 4,997 shares of the industrial products company's stock worth $2,541,000 after buying an additional 2,559 shares during the period. WD Rutherford LLC bought a new position in Deere & Company in the second quarter worth approximately $172,000. Stockman Wealth Management Inc. acquired a new stake in Deere & Company in the second quarter valued at approximately $220,000. Finally, Avior Wealth Management LLC increased its holdings in shares of Deere & Company by 8.5% during the second quarter. Avior Wealth Management LLC now owns 5,240 shares of the industrial products company's stock valued at $2,664,000 after acquiring an additional 409 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Trading Down 0.6%

Shares of DE opened at $463.93 on Friday. The business's 50-day moving average price is $489.67 and its 200-day moving average price is $489.78. Deere & Company has a twelve month low of $387.03 and a twelve month high of $533.78. The stock has a market cap of $125.41 billion, a PE ratio of 24.25, a P/E/G ratio of 2.99 and a beta of 1.00. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76.

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

Deere & Company Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on DE shares. Melius Research raised shares of Deere & Company from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 6th. Wall Street Zen cut shares of Deere & Company from a "hold" rating to a "sell" rating in a report on Friday. Robert W. Baird lowered their target price on shares of Deere & Company from $520.00 to $488.00 and set a "neutral" rating on the stock in a report on Friday, August 15th. Oppenheimer dropped their price target on shares of Deere & Company from $566.00 to $512.00 and set an "outperform" rating on the stock in a research report on Thursday, September 18th. Finally, JPMorgan Chase & Co. decreased their price objective on Deere & Company from $500.00 to $495.00 and set a "neutral" rating for the company in a report on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $518.06.

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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