Dynamic Financial Group Reduces Position in Deere & Company $DE

Key Points

• Dynamic Financial Group reduced its stake in Deere & Company by 5.6%, owning 10,368 shares valued at approximately $4.87 million as of the latest reporting period.
• Deere & Company reported a net margin of 11.72% and earnings of $4.75 EPS for the last quarter, exceeding analysts' expectations.
• The company announced a quarterly dividend of $1.62 per share, with a dividend yield of 1.3%.

Dynamic Financial Group cut its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 5.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,368 shares of the industrial products company's stock after selling 617 shares during the period. Deere & Company makes up approximately 4.9% of Dynamic Financial Group's holdings, making the stock its 3rd biggest position. Dynamic Financial Group's holdings in Deere & Company were worth $4,866,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in 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 valued at $10,355,546,000 after purchasing an additional 185,671 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Deere & Company by 19.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company's stock valued at $2,792,082,000 after acquiring an additional 1,095,736 shares in the last quarter. Capital World Investors lifted its position in shares of Deere & Company by 2.7% in the 4th quarter. Capital World Investors now owns 6,058,259 shares of the industrial products company's stock valued at $2,566,884,000 after acquiring an additional 157,224 shares in the last quarter. Northern Trust Corp lifted its position in shares of Deere & Company by 12.8% in the 4th quarter. Northern Trust Corp now owns 2,915,729 shares of the industrial products company's stock valued at $1,235,394,000 after acquiring an additional 330,915 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Deere & Company by 7.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,587,065 shares of the industrial products company's stock valued at $1,096,179,000 after acquiring an additional 184,203 shares in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DE has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their price target on shares of Deere & Company from $490.00 to $540.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Wall Street Zen downgraded shares of Deere & Company from a "hold" rating to a "sell" rating in a research report on Saturday. Raymond James Financial upped their price target on shares of Deere & Company from $530.00 to $560.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Truist Financial reduced their price target on shares of Deere & Company from $619.00 to $602.00 and set a "buy" rating for the company in a research report on Friday, August 15th. Finally, Evercore ISI set a $491.00 price target on shares of Deere & Company in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $523.87.

Deere & Company Stock Up 0.7%

Shares of DE traded up $3.3440 during mid-day trading on Wednesday, hitting $492.7840. 1,090,626 shares of the company's stock were exchanged, compared to its average volume of 1,366,047. The firm has a fifty day moving average of $510.04 and a two-hundred day moving average of $490.13. Deere & Company has a twelve month low of $372.12 and a twelve month high of $533.78. The stock has a market cap of $133.46 billion, a price-to-earnings ratio of 25.82, a P/E/G ratio of 3.13 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 (NYSE:DE - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS 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 company had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.33 billion. During the same quarter in the prior year, the business posted $6.29 EPS. Deere & Company's quarterly revenue was down 9.0% on a year-over-year basis. On average, sell-side analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Monday, June 30th were paid a dividend of $1.62 per share. The ex-dividend date was Monday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.3%. Deere & Company's dividend payout ratio is 33.87%.

About Deere & Company

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.