Ferguson Wellman Capital Management Inc. Has $5.19 Million Holdings in Deere & Company $DE

Key Points

• Ferguson Wellman Capital Management Inc. reduced its stake in Deere & Company by 9.9% in Q2, holding shares worth $5.19 million after selling 1,124 shares.
• Deere & Company reported earnings per share of $4.75, exceeding analysts' expectations, but experienced a 9% decline in revenue year-over-year.
• A quarterly dividend of $1.62 per share has been declared, representing an annualized yield of 1.4%, with a payout ratio of 33.87%.

Ferguson Wellman Capital Management Inc. lessened its position in Deere & Company (NYSE:DE - Free Report) by 9.9% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 10,203 shares of the industrial products company's stock after selling 1,124 shares during the period. Ferguson Wellman Capital Management Inc.'s holdings in Deere & Company were worth $5,188,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Activest Wealth Management grew its stake in Deere & Company by 2,750.0% in the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company's stock valued at $27,000 after acquiring an additional 55 shares during the period. Hughes Financial Services LLC acquired a new stake in Deere & Company in the first quarter valued at approximately $29,000. Cornerstone Planning Group LLC lifted its holdings in shares of Deere & Company by 116.1% in the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 36 shares in the last quarter. Livelsberger Financial Advisory bought a new position in shares of Deere & Company in the second quarter valued at approximately $39,000. Finally, Orion Capital Management LLC bought a new position in shares of Deere & Company in the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 68.58% of the company's stock.

Deere & Company Stock Performance

Shares of DE opened at $468.75 on Thursday. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. The company has a market capitalization of $126.72 billion, a price-to-earnings ratio of 24.50, a PEG ratio of 3.01 and a beta of 1.00. The stock has a 50 day moving average of $494.93 and a 200 day moving average of $490.02. Deere & Company has a 12 month low of $387.03 and a 12 month high of $533.78.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating analysts' consensus estimates of $4.62 by $0.13. The company had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.Deere & Company's revenue was down 9.0% on a year-over-year basis. During the same period last year, the business posted $6.29 earnings per share. As a group, 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 will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Deere & Company's dividend payout ratio (DPR) is presently 33.87%.

Wall Street Analyst Weigh In

DE has been the topic of a number of recent research reports. Melius upgraded Deere & Company from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Truist Financial dropped their target price on Deere & Company from $619.00 to $602.00 and set a "buy" rating on the stock in a report on Friday, August 15th. Oppenheimer raised their target price on Deere & Company from $560.00 to $566.00 and gave the company an "outperform" rating in a report on Friday, August 15th. Wall Street Zen upgraded Deere & Company from a "sell" rating to a "hold" rating in a report on Saturday, September 13th. Finally, Robert W. Baird dropped their target price on Deere & Company from $520.00 to $488.00 and set a "neutral" rating on the stock in a report on Friday, August 15th. One investment 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.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $520.87.

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.

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