Greenwood Capital Associates LLC Lowers Holdings in Deere & Company $DE

Key Points

• Greenwood Capital Associates LLC reduced its stake in Deere & Company by 15.7%, owning 6,450 shares worth $3.28 million after selling 1,199 shares in the second quarter.
• Deere & Company recently announced a quarterly dividend of $1.62 per share, with a yield of 1.4%, set to be paid on November 10th, impacting dividends for shareholders of record as of September 30th.
• Several analysts have lowered their ratings on Deere & Company, with a consensus price target of $518.06, reflecting a general cautious outlook despite a majority rating of “Moderate Buy.”

Greenwood Capital Associates LLC trimmed its stake in shares of Deere & Company (NYSE:DE - Free Report) by 15.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,450 shares of the industrial products company's stock after selling 1,199 shares during the period. Greenwood Capital Associates LLC's holdings in Deere & Company were worth $3,280,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DE. Southland Equity Partners LLC raised its stake in Deere & Company by 3.9% during the 2nd quarter. Southland Equity Partners LLC now owns 534 shares of the industrial products company's stock worth $271,000 after acquiring an additional 20 shares during the period. Chicago Partners Investment Group LLC boosted its holdings in Deere & Company by 1.2% in the 1st quarter. Chicago Partners Investment Group LLC now owns 1,803 shares of the industrial products company's stock worth $852,000 after buying an additional 21 shares during the period. Tyler Stone Wealth Management boosted its holdings in Deere & Company by 1.7% in the 1st quarter. Tyler Stone Wealth Management now owns 1,230 shares of the industrial products company's stock worth $577,000 after buying an additional 21 shares during the period. McLean Asset Management Corp raised its stake in Deere & Company by 4.0% during the 2nd quarter. McLean Asset Management Corp now owns 544 shares of the industrial products company's stock valued at $283,000 after purchasing an additional 21 shares during the period. Finally, Trilogy Capital Inc. lifted its holdings in Deere & Company by 1.3% in the 2nd quarter. Trilogy Capital Inc. now owns 1,692 shares of the industrial products company's stock worth $860,000 after purchasing an additional 21 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on DE shares. Wall Street Zen lowered shares of Deere & Company from a "hold" rating to a "sell" rating in a research report on Friday, September 26th. JPMorgan Chase & Co. cut their price objective on shares of Deere & Company from $500.00 to $495.00 and set a "neutral" rating on the stock in a research report on Tuesday, September 2nd. Daiwa Capital Markets dropped their price target on shares of Deere & Company from $565.00 to $530.00 and set an "outperform" rating for the company in a research note on Thursday, September 25th. Evercore ISI set a $491.00 price objective on shares of Deere & Company in a research report on Tuesday, August 19th. Finally, Oppenheimer reduced their target price on Deere & Company from $566.00 to $512.00 and set an "outperform" rating on the stock in a research note on Thursday, September 18th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $518.06.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $461.88 on Friday. The business's fifty day simple moving average is $485.74 and its 200-day simple moving average is $489.22. Deere & Company has a 52 week low of $387.03 and a 52 week high of $533.78. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76. The firm has a market cap of $124.86 billion, a PE ratio of 24.14, a price-to-earnings-growth ratio of 2.91 and a beta of 1.03.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, topping the consensus estimate of $4.62 by $0.13. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The company had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.33 billion. During the same quarter in the prior year, the business earned $6.29 EPS. Deere & Company's revenue was down 9.0% on a year-over-year basis. Equities 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. Shareholders of record on Tuesday, September 30th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Deere & Company's dividend payout ratio (DPR) is 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.

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