Deere & Company $DE Shares Sold by Neville Rodie & Shaw Inc.

Key Points

• Neville Rodie & Shaw Inc. reduced its stake in Deere & Company by 13.1%, selling 545 shares in the second quarter, leaving them with a total of 3,610 shares valued at approximately $1.84 million.
• Institutional investors hold a significant 68.58% of Deere & Company's stock, with notable increases in holdings from firms such as Vanguard, Price T Rowe Associates, and GAMMA Investing LLC.
• Deere & Company recently announced a quarterly dividend of $1.62 per share, reflecting a 1.4% dividend yield and a payout ratio of 33.87%.

Neville Rodie & Shaw Inc. lowered its position in shares of Deere & Company (NYSE:DE - Free Report) by 13.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,610 shares of the industrial products company's stock after selling 545 shares during the period. Neville Rodie & Shaw Inc.'s holdings in Deere & Company were worth $1,836,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Deere & Company by 0.8% during the first quarter. Vanguard Group Inc. now owns 22,063,590 shares of the industrial products company's stock worth $10,355,546,000 after purchasing an additional 185,671 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Deere & Company by 4.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company's stock worth $3,227,258,000 after purchasing an additional 286,253 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Deere & Company by 2.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,815,817 shares of the industrial products company's stock valued at $852,254,000 after acquiring an additional 35,075 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Deere & Company by 2.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,780,742 shares of the industrial products company's stock valued at $754,500,000 after acquiring an additional 48,941 shares during the period. Finally, GAMMA Investing LLC increased its position in Deere & Company by 61,215.9% in the 1st quarter. GAMMA Investing LLC now owns 1,753,022 shares of the industrial products company's stock valued at $822,781,000 after acquiring an additional 1,750,163 shares during the period. Institutional investors and hedge funds own 68.58% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Truist Financial dropped their price target on Deere & Company from $619.00 to $602.00 and set a "buy" rating on the stock in a research report on Friday, August 15th. Citigroup dropped their price target on Deere & Company from $550.00 to $525.00 and set a "neutral" rating on the stock in a research report on Friday, May 30th. Barclays boosted their price target on Deere & Company from $475.00 to $530.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Evercore ISI set a $491.00 price target on Deere & Company in a research report on Tuesday, August 19th. Finally, Raymond James Financial boosted their price target on Deere & Company from $530.00 to $560.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. One equities research 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's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $520.87.

Deere & Company Price Performance

Shares of DE opened at $471.35 on Friday. Deere & Company has a twelve month low of $386.42 and a twelve month high of $533.78. The stock's 50 day moving average is $497.38 and its two-hundred day moving average is $490.24. The firm has a market capitalization of $127.42 billion, a PE ratio of 24.64, a P/E/G ratio of 3.06 and a beta of 1.00. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, beating analysts' consensus estimates of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The company had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.33 billion. During the same quarter in the previous year, the company earned $6.29 EPS. The firm's revenue for the quarter was down 9.0% compared to the same quarter last year. Research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

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

Deere & 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.

Want to see what other hedge funds are holding DE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Deere & Company (NYSE:DE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.