Deere & Company $DE Shares Sold by Korea Investment CORP

Key Points

• Korea Investment CORP reduced its position in Deere & Company by 11.1%, selling 21,521 shares and owning a total of approximately 172,738 shares valued at $81.08 million.
• Several analysts have updated their price targets for Deere & Company, with Robert W. Baird lowering its target to $488, while JPMorgan Chase raised it to $540, reflecting a mixed outlook on the stock's performance.
• Deere & Company announced a quarterly dividend of $1.62 per share, which translates to an annualized yield of 1.3%, with a dividend payout ratio of 33.87%.

Korea Investment CORP reduced its position in Deere & Company (NYSE:DE - Free Report) by 11.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 172,738 shares of the industrial products company's stock after selling 21,521 shares during the quarter. Korea Investment CORP owned about 0.06% of Deere & Company worth $81,075,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Alpha Family Trust acquired a new stake in shares of Deere & Company in the first quarter valued at approximately $216,000. Aptus Capital Advisors LLC boosted its holdings in shares of Deere & Company by 16.4% in the first quarter. Aptus Capital Advisors LLC now owns 38,983 shares of the industrial products company's stock valued at $18,297,000 after acquiring an additional 5,506 shares during the period. Aviso Financial Inc. boosted its holdings in shares of Deere & Company by 7.4% in the first quarter. Aviso Financial Inc. now owns 3,280 shares of the industrial products company's stock valued at $1,539,000 after acquiring an additional 226 shares during the period. Granite Harbor Advisors Inc. lifted its holdings in shares of Deere & Company by 22.5% during the first quarter. Granite Harbor Advisors Inc. now owns 631 shares of the industrial products company's stock worth $296,000 after purchasing an additional 116 shares during the period. Finally, Brooklyn Investment Group lifted its holdings in shares of Deere & Company by 31.6% during the first quarter. Brooklyn Investment Group now owns 2,225 shares of the industrial products company's stock worth $1,044,000 after purchasing an additional 534 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on DE shares. Robert W. Baird decreased their price target on Deere & Company from $520.00 to $488.00 and set a "neutral" rating for the company in a report on Friday. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Deere & Company in a report on Thursday, May 15th. Truist Financial decreased their price target on Deere & Company from $619.00 to $602.00 and set a "buy" rating for the company in a report on Friday. JPMorgan Chase & Co. increased their price target on Deere & Company from $490.00 to $540.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Finally, Barclays increased their price target on Deere & Company from $475.00 to $530.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Deere & Company presently has an average rating of "Hold" and an average target price of $521.47.

Deere & Company Trading Up 2.1%

NYSE:DE opened at $488.68 on Monday. The company has a market capitalization of $132.35 billion, a PE ratio of 25.55, a price-to-earnings-growth ratio of 3.10 and a beta of 1.06. 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 has a 52-week low of $371.16 and a 52-week high of $533.78. The stock has a fifty day simple moving average of $511.18 and a 200-day simple moving average of $490.04.

Deere & Company (NYSE:DE - Get Free Report) last released 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 business had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%. The business's revenue was down 9.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.29 EPS. On average, equities research analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Monday, June 30th were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Monday, June 30th. Deere & Company's dividend payout ratio (DPR) is currently 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.

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