Federation des caisses Desjardins du Quebec Sells 6,603 Shares of Deere & Company $DE

Key Points

• The Federation des caisses Desjardins du Quebec has decreased its stake in Deere & Company by 6.6%, selling 6,603 shares during the first quarter, leaving them with 93,371 shares valued at approximately $43.8 million.
• Analysts have recently set new price targets for Deere & Company, with Robert W. Baird lowering its target from $520 to $488, while Truist Financial and DA Davidson also reduced their targets but maintained a "buy" rating.
• Deere & Company reported a quarterly earnings per share of $4.75, exceeding analysts' expectations, but revenue declined by 9% compared to the same quarter last year, totaling $10.36 billion.

Federation des caisses Desjardins du Quebec reduced its stake in shares of Deere & Company (NYSE:DE - Free Report) by 6.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 93,371 shares of the industrial products company's stock after selling 6,603 shares during the period. Federation des caisses Desjardins du Quebec's holdings in Deere & Company were worth $43,824,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. EP Wealth Advisors LLC boosted its holdings in Deere & Company by 0.4% in the 1st quarter. EP Wealth Advisors LLC now owns 5,503 shares of the industrial products company's stock worth $2,583,000 after buying an additional 23 shares during the period. Focus Partners Advisor Solutions LLC boosted its holdings in Deere & Company by 1.6% in the 1st quarter. Focus Partners Advisor Solutions LLC now owns 6,289 shares of the industrial products company's stock worth $2,952,000 after buying an additional 102 shares during the period. Graham Capital Management L.P. boosted its holdings in Deere & Company by 97.7% in the 1st quarter. Graham Capital Management L.P. now owns 4,350 shares of the industrial products company's stock worth $2,042,000 after buying an additional 2,150 shares during the period. Retirement Planning Co of New England Inc. boosted its holdings in Deere & Company by 26.8% in the 1st quarter. Retirement Planning Co of New England Inc. now owns 1,061 shares of the industrial products company's stock worth $498,000 after buying an additional 224 shares during the period. Finally, Caption Management LLC bought a new position in Deere & Company in the 1st quarter worth approximately $751,000. 68.58% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on DE shares. Bank of America raised their price objective on shares of Deere & Company from $495.00 to $556.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. The Goldman Sachs Group reiterated a "buy" rating on shares of Deere & Company in a research note on Thursday, May 15th. Melius upgraded shares of Deere & Company from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Truist Financial lowered their target price on shares of Deere & Company from $619.00 to $602.00 and set a "buy" rating on the stock in a research note on Friday, August 15th. Finally, Evercore ISI set a $491.00 target price on shares of Deere & Company in a research note on Tuesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $520.87.

Deere & Company Price Performance

Shares of NYSE:DE traded down $2.16 during trading on Friday, reaching $472.74. The company had a trading volume of 1,262,378 shares, compared to its average volume of 1,480,224. The company has a fifty day moving average of $501.32 and a two-hundred day moving average of $490.88. The stock has a market capitalization of $127.80 billion, a P/E ratio of 24.71, a price-to-earnings-growth ratio of 3.05 and a beta of 1.00. Deere & Company has a 12 month low of $378.66 and a 12 month high of $533.78. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE - Get Free Report) last released its earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating 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 last year, the firm earned $6.29 EPS. The firm's quarterly revenue was down 9.0% compared to the same quarter last year. Equities research analysts forecast that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

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

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.