Deere & Company $DE Shares Sold by Ironvine Capital Partners LLC

Key Points

• Ironvine Capital Partners LLC decreased its holdings in Deere & Company by 7.9%, now owning 20,048 shares valued at approximately $9.41 million.
• Deere & Company's recent earnings report showed an EPS of $4.75, beating estimates, but revenue was down 9% year-over-year.
• The company announced a quarterly dividend of $1.62 per share, which equates to an annualized yield of 1.4%.

Ironvine Capital Partners LLC lessened its position in Deere & Company (NYSE:DE - Free Report) by 7.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,048 shares of the industrial products company's stock after selling 1,711 shares during the quarter. Deere & Company comprises 1.0% of Ironvine Capital Partners LLC's holdings, making the stock its 24th largest position. Ironvine Capital Partners LLC's holdings in Deere & Company were worth $9,410,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Assenagon Asset Management S.A. lifted its position in shares of Deere & Company by 58.9% in the first quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company's stock valued at $6,395,000 after acquiring an additional 5,053 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its position in shares of 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 in the last quarter. Providence Capital Advisors LLC lifted its position in shares of Deere & Company by 2.1% in the first quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company's stock valued at $6,871,000 after acquiring an additional 303 shares in the last quarter. Bragg Financial Advisors Inc lifted its position in shares of Deere & Company by 12.7% in 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 in the last quarter. Finally, ASR Vermogensbeheer N.V. purchased a new position in shares of Deere & Company in the first quarter valued at approximately $13,588,000. Hedge funds and other institutional investors own 68.58% of the company's stock.

Deere & Company Trading Down 1.3%

DE stock traded down $6.19 during midday trading on Tuesday, hitting $475.33. 1,203,679 shares of the company's stock were exchanged, compared to its average volume of 1,358,866. The business has a 50-day simple moving average of $500.77 and a two-hundred day simple moving average of $490.65. 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 stock has a market capitalization of $128.49 billion, a PE ratio of 24.85, a P/E/G ratio of 3.04 and a beta of 1.00. Deere & Company has a 1-year low of $378.66 and a 1-year high of $533.78.

Deere & Company (NYSE:DE - Get Free Report) last posted its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.62 by $0.13. The company had revenue of $10.36 billion during the quarter, compared to analysts' expectations of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The firm's quarterly revenue was down 9.0% compared to the same quarter last year. During the same quarter last year, the firm earned $6.29 earnings per share. On average, sell-side analysts predict that Deere & Company will post 19.32 EPS for the current fiscal 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 paid 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 yield of 1.4%. Deere & Company's dividend payout ratio (DPR) is 33.87%.

Wall Street Analysts Forecast Growth

DE has been the topic of several research reports. Truist Financial decreased their target price on Deere & Company from $619.00 to $602.00 and set a "buy" rating on the stock in a research report on Friday, August 15th. Wall Street Zen cut Deere & Company from a "hold" rating to a "sell" rating in a report on Friday. Melius Research raised Deere & Company from a "hold" rating to a "strong-buy" rating in a report on Friday, June 6th. Bank of America increased their price target on Deere & Company from $495.00 to $556.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Finally, JPMorgan Chase & Co. cut their price target on Deere & Company from $500.00 to $495.00 and set a "neutral" rating for the company in a report on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, Deere & Company presently has an average rating of "Moderate Buy" and a consensus price target of $520.87.

About Deere & Company

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.