Ethic Inc. Has $16.04 Million Stake in Deere & Company $DE

Key Points

• Ethic Inc. reduced its stake in Deere & Company by 3.1%, now holding 31,251 shares valued at $16.04 million.
• Deere's recent quarterly earnings report showed a profit of $4.75 EPS, surpassing estimates, despite a 9.0% year-over-year revenue decline.
• The company declared a quarterly dividend of $1.62 per share, with an annualized dividend yield of 1.4%.

Ethic Inc. lowered its stake in shares of Deere & Company (NYSE:DE - Free Report) by 3.1% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 31,251 shares of the industrial products company's stock after selling 1,001 shares during the period. Ethic Inc.'s holdings in Deere & Company were worth $16,042,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of DE. OLD National Bancorp IN grew its stake in shares of Deere & Company by 2.6% in the 2nd quarter. OLD National Bancorp IN now owns 24,000 shares of the industrial products company's stock valued at $12,204,000 after purchasing an additional 610 shares during the period. OVERSEA CHINESE BANKING Corp Ltd grew its position in Deere & Company by 10.7% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company's stock valued at $3,863,000 after acquiring an additional 798 shares during the period. Providence Capital Advisors LLC raised its stake in Deere & Company by 2.1% during the first quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company's stock worth $6,871,000 after acquiring an additional 303 shares in the last quarter. Bragg Financial Advisors Inc lifted its holdings in shares of Deere & Company by 12.7% during the first quarter. Bragg Financial Advisors Inc now owns 7,213 shares of the industrial products company's stock valued at $3,386,000 after acquiring an additional 813 shares during the period. Finally, ASR Vermogensbeheer N.V. acquired a new stake in shares of Deere & Company in the 1st quarter valued at $13,588,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Deere & Company Stock Up 0.5%

Shares of DE opened at $464.66 on Wednesday. The business's fifty day moving average price is $471.43 and its two-hundred day moving average price is $487.92. The firm has a market capitalization of $125.61 billion, a price-to-earnings ratio of 24.10, a PEG ratio of 2.97 and a beta of 1.02. Deere & Company has a 52 week low of $387.03 and a 52 week high of $533.78. 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 (NYSE:DE - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 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 firm had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. During the same period last year, the company earned $6.29 earnings per share. The company's revenue was down 9.0% on a year-over-year basis. On average, analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The business 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 $1.62 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. Deere & Company's dividend payout ratio is 33.87%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on DE shares. JPMorgan Chase & Co. dropped their target price on shares of Deere & Company from $495.00 to $480.00 and set a "neutral" rating for the company in a research report on Tuesday, October 14th. Oppenheimer decreased their price objective on shares of Deere & Company from $566.00 to $512.00 and set an "outperform" rating on the stock in a research note on Thursday, September 18th. Wall Street Zen raised shares of Deere & Company from a "sell" rating to a "hold" rating in a report on Saturday, October 4th. Weiss Ratings reissued a "hold (c+)" rating on shares of Deere & Company in a report on Wednesday, October 8th. Finally, Wolfe Research decreased their price target on Deere & Company from $550.00 to $520.00 and set an "outperform" rating on the stock in a research report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $518.72.

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.

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