Deere & Company $DE Stock Holdings Reduced by Birmingham Capital Management Co. Inc. AL

Key Points

• Birmingham Capital Management Co. Inc. reduced its holdings in Deere & Company by 2.2%, currently owning 32,310 shares worth approximately $16.4 million, making it the fund's largest position.
• During the latest reporting period, multiple institutional investors increased their stakes significantly, with TD Asset Management Inc. growing its position by 132% to 721,638 shares valued at about $366.9 million.
• Deere & Company announced a quarterly dividend of $1.62, with a yield of 1.4%, set to be paid on November 10th, indicating a solid return for shareholders amidst variable earnings results.

Birmingham Capital Management Co. Inc. AL decreased its position in Deere & Company (NYSE:DE - Free Report) by 2.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,310 shares of the industrial products company's stock after selling 715 shares during the period. Deere & Company comprises approximately 7.3% of Birmingham Capital Management Co. Inc. AL's portfolio, making the stock its biggest holding. Birmingham Capital Management Co. Inc. AL's holdings in Deere & Company were worth $16,429,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of DE. Nuveen LLC purchased a new position in Deere & Company in the first quarter valued at approximately $571,073,000. TD Asset Management Inc lifted its stake in Deere & Company by 132.0% in the second quarter. TD Asset Management Inc now owns 721,638 shares of the industrial products company's stock valued at $366,946,000 after purchasing an additional 410,636 shares during the last quarter. Voya Investment Management LLC lifted its stake in Deere & Company by 97.1% in the first quarter. Voya Investment Management LLC now owns 733,871 shares of the industrial products company's stock valued at $344,442,000 after purchasing an additional 361,526 shares during the last quarter. Price T Rowe Associates Inc. MD lifted 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 acquiring an additional 286,253 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Deere & Company by 23.4% during the first quarter. Invesco Ltd. now owns 1,353,255 shares of the industrial products company's stock worth $635,150,000 after acquiring an additional 256,806 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on DE shares. Weiss Ratings restated a "hold (c+)" rating on shares of Deere & Company in a research report on Wednesday, October 8th. UBS Group set a $535.00 target price on Deere & Company and gave the stock a "buy" rating in a research report on Friday. Daiwa Capital Markets dropped their target price on Deere & Company from $565.00 to $530.00 and set an "outperform" rating on the stock in a research report on Thursday, September 25th. JPMorgan Chase & Co. dropped their target price on Deere & Company from $495.00 to $480.00 and set a "neutral" rating on the stock in a research report on Tuesday, October 14th. Finally, Oppenheimer dropped their target price on Deere & Company from $566.00 to $512.00 and set an "outperform" rating on the stock in a research report on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $517.35.

Deere & Company Trading Up 0.3%

Shares of DE stock opened at $458.63 on Monday. 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 has a 52-week low of $387.03 and a 52-week high of $533.78. The company has a market capitalization of $123.98 billion, a PE ratio of 23.97, a price-to-earnings-growth ratio of 2.95 and a beta of 1.02. The business's fifty day moving average is $473.24 and its 200 day moving average is $487.89.

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 (EPS) for the quarter, topping 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 the consensus estimate of $10.33 billion. During the same quarter last year, the business posted $6.29 earnings per share. The firm's revenue was down 9.0% compared to the same quarter last year. On average, equities research analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

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