Deere & Company $DE Shares Sold by BCV Asset Management Inc.

Key Points

• BCV Asset Management cut its Deere stake by 45.5% in the third quarter, selling 46,073 shares; it retained 55,078 shares valued at about $37.1 million.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $688.10; 17 analysts rate the stock Buy and eight rate it Hold.
• Deere beat quarterly earnings and revenue estimates, reporting EPS of $5.10 and revenue of $12.61 billion; revenue rose 6.2% year over year.

BCV Asset Management Inc. trimmed its stake in Deere & Company (NYSE:DE - Free Report) by 45.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 55,078 shares of the industrial products company's stock after selling 46,073 shares during the quarter. BCV Asset Management Inc.'s holdings in Deere & Company were worth $37,138,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co lifted its position in shares of Deere & Company by 3.2% during the 2nd quarter. SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co now owns 516 shares of the industrial products company's stock valued at $308,000 after buying an additional 16 shares during the last quarter. Concorde Asset Management LLC lifted its holdings in Deere & Company by 3.0% during the second quarter. Concorde Asset Management LLC now owns 581 shares of the industrial products company's stock valued at $369,000 after purchasing an additional 17 shares during the last quarter. MCF Advisors LLC boosted its position in Deere & Company by 0.9% during the second quarter. MCF Advisors LLC now owns 1,999 shares of the industrial products company's stock worth $1,271,000 after purchasing an additional 17 shares during the period. XY Planning Network Inc. boosted its position in Deere & Company by 2.3% during the third quarter. XY Planning Network Inc. now owns 765 shares of the industrial products company's stock worth $514,000 after purchasing an additional 17 shares during the period. Finally, CRA Financial Services LLC increased its stake in shares of Deere & Company by 1.4% in the third quarter. CRA Financial Services LLC now owns 1,224 shares of the industrial products company's stock worth $822,000 after purchasing an additional 17 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Wall Street Zen cut Deere & Company from a "hold" rating to a "sell" rating in a research report on Saturday, August 22nd. Bank of America raised their price objective on shares of Deere & Company from $667.00 to $715.00 in a research report on Thursday, September 24th. Robert W. Baird upgraded Deere & Company from a "neutral" rating to an "outperform" rating and upped their target price for the stock from $640.00 to $800.00 in a research note on Monday, August 31st. Truist Financial reduced their target price on Deere & Company from $812.00 to $804.00 and set a "buy" rating on the stock in a research note on Monday, August 24th. Finally, Weiss Ratings raised shares of Deere & Company from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday, September 21st. Seventeen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $688.10.

Deere & Company Trading Down 0.9%

Shares of DE opened at $672.74 on Friday. The firm's 50-day moving average price is $668.36 and its 200-day moving average price is $612.22. The firm has a market capitalization of $181.38 billion, a price-to-earnings ratio of 37.71, a PEG ratio of 1.92 and a beta of 0.89. The company has a current ratio of 2.10, a quick ratio of 1.89 and a debt-to-equity ratio of 1.45. Deere & Company has a 1-year low of $455.90 and a 1-year high of $721.22.

Deere & Company (NYSE:DE - Get Free Report) last released its quarterly earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.69 by $0.41. Deere & Company had a net margin of 10.16% and a return on equity of 18.10%. The company had revenue of $12.61 billion during the quarter, compared to the consensus estimate of $10.81 billion. During the same period in the prior year, the firm earned $4.75 earnings per share. Deere & Company's revenue was up 6.2% on a year-over-year basis. Sell-side analysts anticipate that Deere & Company will post 18.11 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 9th. Shareholders of record on Wednesday, September 30th were given a dividend of $1.62 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $6.48 annualized dividend and a yield of 1.0%. Deere & Company's dividend payout ratio (DPR) is currently 36.00%.

About Deere & Company

Deere & Company, commonly known as John Deere, manufactures and distributes equipment and technology for agriculture, construction, forestry, and lawn care. Its products include tractors, combines, planting and spraying equipment, construction machinery, forestry equipment, and turf-care products, along with related parts and services. The company also provides precision agriculture technologies designed to help customers monitor and manage equipment and field operations. Through its Financial Services business, Deere offers financing and leasing options for equipment and related products.

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