Deere & Company $DE Shares Sold by ERn Financial LLC

Key Points

• ERn Financial LLC reduced its stake in Deere & Company by 41.1% during the second quarter, resulting in ownership of 2,036 shares valued at approximately $1,035,000.
• Deere & Company reported earnings of $4.75 per share for the quarter, exceeding estimates, although revenue declined by 9.0% year-over-year to $10.36 billion.
• The company announced a quarterly dividend of $1.62 per share, with a payout ratio of 33.87% and a dividend yield of 1.4%.

ERn Financial LLC lessened its position in shares of Deere & Company (NYSE:DE - Free Report) by 41.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,036 shares of the industrial products company's stock after selling 1,421 shares during the quarter. ERn Financial LLC's holdings in Deere & Company were worth $1,035,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DE. Activest Wealth Management grew its position in shares of Deere & Company by 2,750.0% in the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company's stock valued at $27,000 after purchasing an additional 55 shares during the period. Hughes Financial Services LLC acquired a new stake in shares of Deere & Company in the first quarter valued at about $29,000. Cornerstone Planning Group LLC grew its position in shares of Deere & Company by 116.1% in the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 36 shares during the period. Marshall & Sullivan Inc. WA acquired a new stake in shares of Deere & Company in the second quarter valued at about $38,000. Finally, Livelsberger Financial Advisory acquired a new stake in shares of Deere & Company in the second quarter valued at about $39,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Deere & Company Price Performance

Deere & Company stock opened at $463.93 on Monday. The company's 50 day simple moving average is $489.67 and its 200-day simple moving average is $489.95. The company has a market capitalization of $125.41 billion, a price-to-earnings ratio of 24.25, a price-to-earnings-growth ratio of 2.99 and a beta of 1.00. Deere & Company has a 1 year low of $387.03 and a 1 year high of $533.78. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19.

Deere & Company (NYSE:DE - Get Free Report) last announced its 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 net margin of 11.72% and a return on equity of 21.97%. The firm had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.33 billion. During the same period in the prior year, the firm earned $6.29 EPS. The firm's revenue for the quarter was down 9.0% on a year-over-year basis. As a group, equities research analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be given a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. Deere & Company's dividend payout ratio is currently 33.87%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Oppenheimer dropped their target price 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. DA Davidson lowered their price target on shares of Deere & Company from $595.00 to $580.00 and set a "buy" rating on the stock in a research report on Monday, August 18th. Truist Financial lowered their price target on shares of Deere & Company from $619.00 to $602.00 and set a "buy" rating on the stock in a research report on Friday, August 15th. Melius upgraded shares of Deere & Company from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Finally, Daiwa Capital Markets lowered their price target on shares of Deere & Company from $565.00 to $530.00 and set an "outperform" rating on the stock in a research report on Thursday. One investment 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's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target 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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