Dimensional Fund Advisors LP Sells 42,310 Shares of Deere & Company $DE

Key Points

• Dimensional Fund Advisors LP reduced its stake in Deere & Company by 1.6% during Q1, now owning approximately 2.54 million shares valued at $1.19 billion.
• Deere & Company reported Q3 earnings of $4.75 per share, exceeding analysts' expectations, despite a 9% year-over-year revenue decline.
• The company also declared a quarterly dividend of $1.62 per share, representing an annual yield of 1.3% and a payout ratio of 31.35%.

Dimensional Fund Advisors LP lowered its holdings in Deere & Company (NYSE:DE - Free Report) by 1.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,544,755 shares of the industrial products company's stock after selling 42,310 shares during the period. Dimensional Fund Advisors LP owned approximately 0.94% of Deere & Company worth $1,194,241,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of DE. Brighton Jones LLC raised its position in shares of Deere & Company by 39.1% in the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock valued at $1,927,000 after purchasing an additional 1,278 shares during the period. XTX Topco Ltd bought a new stake in Deere & Company during the 4th quarter worth approximately $906,000. Jump Financial LLC bought a new stake in Deere & Company during the 4th quarter worth approximately $2,053,000. NewEdge Advisors LLC increased its holdings in Deere & Company by 6.7% during the 4th quarter. NewEdge Advisors LLC now owns 19,139 shares of the industrial products company's stock worth $8,109,000 after acquiring an additional 1,197 shares during the period. Finally, MSH Capital Advisors LLC bought a new stake in Deere & Company during the 4th quarter worth approximately $608,000. Institutional investors own 68.58% of the company's stock.

Deere & Company Trading Down 0.4%

Shares of Deere & Company stock traded down $1.9330 during trading on Tuesday, reaching $489.1970. The company's stock had a trading volume of 1,491,962 shares, compared to its average volume of 1,365,119. Deere & Company has a 52-week low of $371.76 and a 52-week high of $533.78. The company has a market cap of $132.49 billion, a price-to-earnings ratio of 25.57, a PEG ratio of 3.10 and a beta of 1.06. The firm's 50-day moving average is $510.56 and its two-hundred day moving average is $490.14. 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 earnings per share for the quarter, beating the consensus estimate of $4.62 by $0.13. The business had revenue of $10.36 billion during the quarter, compared to analysts' expectations of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The firm's revenue for the quarter was down 9.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $6.29 EPS. On average, sell-side analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

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

Wall Street Analysts Forecast Growth

DE has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their target price on shares of Deere & Company from $490.00 to $540.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Robert W. Baird cut their price target on shares of Deere & Company from $520.00 to $488.00 and set a "neutral" rating for the company in a research note on Friday. Bank of America boosted their price target on shares of Deere & Company from $495.00 to $556.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. BMO Capital Markets reissued a "market perform" rating and issued a $460.00 price target (up previously from $425.00) on shares of Deere & Company in a research note on Wednesday, May 21st. Finally, Barclays upped their price objective on shares of Deere & Company from $475.00 to $530.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. One equities research 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 company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $523.87.

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.