Intact Investment Management Inc. Sells 3,500 Shares of Deere & Company (NYSE:DE)

Intact Investment Management Inc. trimmed its holdings in Deere & Company (NYSE:DE - Free Report) by 89.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 400 shares of the industrial products company's stock after selling 3,500 shares during the quarter. Intact Investment Management Inc.'s holdings in Deere & Company were worth $188,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. World Equity Group Inc. raised its holdings in shares of Deere & Company by 4.5% in the first quarter. World Equity Group Inc. now owns 552 shares of the industrial products company's stock valued at $244,000 after buying an additional 24 shares during the last quarter. Coppell Advisory Solutions LLC raised its holdings in shares of Deere & Company by 2.5% in the fourth quarter. Coppell Advisory Solutions LLC now owns 1,011 shares of the industrial products company's stock valued at $432,000 after buying an additional 25 shares during the last quarter. Glen Eagle Advisors LLC raised its holdings in shares of Deere & Company by 0.9% in the fourth quarter. Glen Eagle Advisors LLC now owns 2,936 shares of the industrial products company's stock valued at $1,244,000 after buying an additional 25 shares during the last quarter. Knights of Columbus Asset Advisors LLC raised its holdings in shares of Deere & Company by 0.3% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 7,565 shares of the industrial products company's stock valued at $3,205,000 after buying an additional 26 shares during the last quarter. Finally, LRI Investments LLC raised its holdings in Deere & Company by 1.1% during the 4th quarter. LRI Investments LLC now owns 2,442 shares of the industrial products company's stock worth $1,035,000 after purchasing an additional 26 shares during the last quarter. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Performance

Shares of DE stock opened at $520.66 on Monday. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.11 and a quick ratio of 1.89. The stock has a market cap of $141.01 billion, a PE ratio of 25.19, a price-to-earnings-growth ratio of 3.31 and a beta of 1.09. The stock has a 50-day moving average of $495.13 and a 200-day moving average of $470.82. Deere & Company has a one year low of $340.20 and a one year high of $533.78.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.72 by $0.92. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The business had revenue of $11.17 billion during the quarter, compared to analyst estimates of $10.80 billion. During the same period in the previous year, the firm earned $8.53 EPS. Deere & Company's quarterly revenue was down 17.9% compared to the same quarter last year. As a group, sell-side analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be given a $1.62 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.24%. Deere & Company's dividend payout ratio is presently 31.35%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on DE. Morgan Stanley boosted their price objective on Deere & Company from $450.00 to $500.00 and gave the stock an "overweight" rating in a report on Wednesday, April 16th. Barclays boosted their price objective on Deere & Company from $475.00 to $530.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Baird R W cut Deere & Company from a "strong-buy" rating to a "hold" rating in a report on Monday, March 3rd. Truist Financial boosted their price objective on Deere & Company from $546.00 to $619.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Finally, Melius raised Deere & Company from a "hold" rating to a "buy" rating in a report on Friday, June 6th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $515.19.

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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