Deere & Company $DE Stock Holdings Reduced by Baird Financial Group Inc.

Key Points

• Baird Financial Group Inc. has reduced its stake in Deere & Company by 0.7%, now holding 123,620 shares worth approximately $58 million.
• Deere & Company reported $4.75 EPS for its latest quarter, exceeding analysts' expectations, despite a 9% revenue decline year-over-year.
• The company recently announced a $1.62 quarterly dividend, with a scheduled payment date of November 10th, yielding 1.4% annually.

Baird Financial Group Inc. cut its stake in shares of Deere & Company (NYSE:DE - Free Report) by 0.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 123,620 shares of the industrial products company's stock after selling 906 shares during the period. Baird Financial Group Inc.'s holdings in Deere & Company were worth $58,021,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Brighton Jones LLC increased its position in Deere & Company by 39.1% during the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock worth $1,927,000 after purchasing an additional 1,278 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Deere & Company by 30.3% in the 4th quarter. AQR Capital Management LLC now owns 30,170 shares of the industrial products company's stock valued at $12,783,000 after acquiring an additional 7,019 shares during the period. Alaethes Wealth LLC lifted its holdings in shares of Deere & Company by 0.9% during the 4th quarter. Alaethes Wealth LLC now owns 4,660 shares of the industrial products company's stock valued at $1,982,000 after acquiring an additional 40 shares in the last quarter. AlTi Global Inc. boosted its position in Deere & Company by 0.6% during the 4th quarter. AlTi Global Inc. now owns 4,624 shares of the industrial products company's stock worth $2,102,000 after purchasing an additional 27 shares during the period. Finally, Aptus Capital Advisors LLC increased its holdings in Deere & Company by 26.2% in the 4th quarter. Aptus Capital Advisors LLC now owns 33,477 shares of the industrial products company's stock valued at $14,192,000 after purchasing an additional 6,942 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Price Performance

Shares of DE traded down $2.46 during midday trading on Tuesday, reaching $476.18. The stock had a trading volume of 1,600,596 shares, compared to its average volume of 1,397,712. Deere & Company has a 52 week low of $378.66 and a 52 week 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's 50 day moving average price is $503.57 and its 200-day moving average price is $491.27. The company has a market capitalization of $128.73 billion, a P/E ratio of 24.89, a P/E/G ratio of 3.07 and a beta of 1.00.

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 (EPS) for the quarter, topping the consensus estimate of $4.62 by $0.13. The firm had revenue of $10.36 billion for 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 firm's quarterly revenue was down 9.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.29 earnings per share. On average, 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 announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be issued 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

A number of research analysts have commented on DE shares. Bank of America boosted their price objective on Deere & Company from $495.00 to $556.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. BMO Capital Markets reissued a "market perform" rating and set a $460.00 price target (up previously from $425.00) on shares of Deere & Company in a report on Wednesday, May 21st. Melius raised shares of Deere & Company from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Raymond James Financial lifted their price objective on shares of Deere & Company from $530.00 to $560.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Finally, JPMorgan Chase & Co. decreased their target price 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. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, Deere & Company currently has a consensus rating of "Moderate Buy" and a consensus price target of $520.87.

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.