Liberty One Investment Management LLC Sells 807 Shares of Deere & Company $DE

Key Points

• Liberty One Investment Management LLC reduced its stake in Deere & Company by 7.1%, selling 807 shares and now holding 10,558 shares valued at approximately $5.37 million.
• Analysts have reduced target prices for Deere's stock, with Wolfe Research lowering its target from $550 to $520 while maintaining an "outperform" rating.
• Deere & Company recently announced a quarterly dividend of $1.62 per share, which is set to be paid on November 10th to shareholders of record as of September 30th.

Liberty One Investment Management LLC cut its holdings in Deere & Company (NYSE:DE - Free Report) by 7.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,558 shares of the industrial products company's stock after selling 807 shares during the period. Liberty One Investment Management LLC's holdings in Deere & Company were worth $5,369,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Southland Equity Partners LLC raised its position in shares of Deere & Company by 3.9% in 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 in the last quarter. Vivid Wealth Management LLC raised its position in shares of Deere & Company by 1.9% in the 2nd quarter. Vivid Wealth Management LLC now owns 1,088 shares of the industrial products company's stock worth $553,000 after acquiring an additional 20 shares in the last quarter. Werba Rubin Papier Wealth Management raised its position in shares of Deere & Company by 3.0% in the 2nd quarter. Werba Rubin Papier Wealth Management now owns 676 shares of the industrial products company's stock worth $344,000 after acquiring an additional 20 shares in the last quarter. Chicago Partners Investment Group LLC raised its position in shares of 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 acquiring an additional 21 shares in the last quarter. Finally, Tyler Stone Wealth Management increased its position 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 valued at $577,000 after buying an additional 21 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on DE shares. Wolfe Research decreased their target price on Deere & Company from $550.00 to $520.00 and set an "outperform" rating for the company in a research report on Friday, October 3rd. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Deere & Company in a research report on Wednesday, October 8th. Jefferies Financial Group decreased their target price on Deere & Company from $510.00 to $440.00 and set a "hold" rating for the company in a research report on Wednesday, October 8th. Daiwa Capital Markets decreased their target price on Deere & Company from $565.00 to $530.00 and set an "outperform" rating for the company in a research report on Thursday, September 25th. Finally, Evercore ISI set a $491.00 target price on Deere & Company in a research report on Tuesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, Deere & Company presently has a consensus rating of "Moderate Buy" and an average target price of $517.35.

Deere & Company Stock Performance

Shares of DE opened at $462.67 on Tuesday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. The stock has a 50 day moving average price of $472.35 and a two-hundred day moving average price of $488.11. The firm has a market capitalization of $125.07 billion, a P/E ratio of 24.19, a P/E/G ratio of 2.95 and a beta of 1.02. Deere & Company has a 52 week low of $387.03 and a 52 week high of $533.78.

Deere & Company (NYSE:DE - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, topping analysts' consensus estimates of $4.62 by $0.13. The firm had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The company's revenue for the quarter was down 9.0% on a year-over-year basis. During the same period in the previous year, the company posted $6.29 EPS. Equities analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Deere & Company's payout ratio 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.

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