Deere & Company $DE Shares Sold by TB Alternative Assets Ltd.

Key Points

• TB Alternative Assets Ltd. sold 50.0% of its stake in Deere & Company during the second quarter, leaving it with 1,384 shares valued at approximately $704,000.
• Deere & Company reported a profit of $4.75 per share for the last quarter, exceeding analyst expectations, with revenue at $10.36 billion despite a 9.0% year-over-year decline.
• The company declared a quarterly dividend of $1.62 per share, with an annualized yield of 1.4%, set to be paid on November 10th, 2023.

TB Alternative Assets Ltd. lessened its stake in shares of Deere & Company (NYSE:DE - Free Report) by 50.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,384 shares of the industrial products company's stock after selling 1,384 shares during the period. TB Alternative Assets Ltd.'s holdings in Deere & Company were worth $704,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Activest Wealth Management increased its position in shares of Deere & Company by 2,750.0% during the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company's stock worth $27,000 after purchasing an additional 55 shares in the last quarter. Hughes Financial Services LLC acquired a new stake in Deere & Company during the 1st quarter worth $29,000. Cornerstone Planning Group LLC grew its holdings in shares of Deere & Company by 116.1% during the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock worth $31,000 after buying an additional 36 shares in the last quarter. Marshall & Sullivan Inc. WA purchased a new stake in shares of Deere & Company during the second quarter worth $38,000. Finally, Mascagni Wealth Management Inc. acquired a new stake in shares of Deere & Company in the fourth quarter valued at about $39,000. 68.58% of the stock is owned by hedge funds and other institutional investors.

Deere & Company Stock Down 0.5%

Shares of NYSE DE opened at $469.21 on Thursday. The company has a market capitalization of $126.84 billion, a P/E ratio of 24.53, a P/E/G ratio of 3.03 and a beta of 1.00. 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 company has a 50 day simple moving average of $491.04 and a 200-day simple moving average of $489.89. Deere & Company has a 1 year low of $387.03 and a 1 year high of $533.78.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The firm's revenue for the quarter was down 9.0% compared to the same quarter last year. During the same period in the prior year, the business posted $6.29 earnings per share. On average, equities research analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on DE. JPMorgan Chase & Co. lowered their price target on shares of Deere & Company from $500.00 to $495.00 and set a "neutral" rating on the stock in a research report on Tuesday, September 2nd. Robert W. Baird decreased their target price on shares of Deere & Company from $520.00 to $488.00 and set a "neutral" rating on the stock in a research note on Friday, August 15th. Oppenheimer dropped their price target on Deere & Company from $566.00 to $512.00 and set an "outperform" rating for the company in a research report on Thursday, September 18th. Citigroup cut their price target on Deere & Company from $550.00 to $525.00 and set a "neutral" rating for the company in a report on Friday, May 30th. Finally, Wall Street Zen raised Deere & Company from a "sell" rating to a "hold" rating in a research note on Saturday, September 13th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $517.27.

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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