Mn Services Vermogensbeheer B.V. Decreases Position in Deere & Company $DE

Key Points

• Mn Services Vermogensbeheer B.V. reduced its stake in Deere & Company by 1.0%, holding 96,500 shares valued at approximately $49 million after selling 1,000 shares in the second quarter.
• Deere & Company reported a quarterly earnings per share of $4.75, surpassing analysts' estimates and showing a revenue of $10.36 billion despite a 9.0% year-over-year decline.
• The company announced a quarterly dividend of $1.62 per share, with a payout ratio of 33.87%, reinforcing its commitment to returning value to shareholders.

Mn Services Vermogensbeheer B.V. cut its holdings in Deere & Company (NYSE:DE - Free Report) by 1.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 96,500 shares of the industrial products company's stock after selling 1,000 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Deere & Company were worth $49,069,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of DE. Brighton Jones LLC boosted its holdings in Deere & Company by 39.1% in the 4th quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company's stock worth $1,927,000 after buying an additional 1,278 shares during the period. Visionary Wealth Advisors boosted its holdings in Deere & Company by 12.8% in the 4th quarter. Visionary Wealth Advisors now owns 1,196 shares of the industrial products company's stock worth $507,000 after buying an additional 136 shares during the period. Vident Advisory LLC boosted its holdings in Deere & Company by 150.4% in the 4th quarter. Vident Advisory LLC now owns 10,933 shares of the industrial products company's stock worth $4,633,000 after buying an additional 6,566 shares during the period. Woodline Partners LP bought a new position in Deere & Company in the 4th quarter worth approximately $6,475,000. Finally, Williams Jones Wealth Management LLC. boosted its holdings in Deere & Company by 0.4% in the 4th quarter. Williams Jones Wealth Management LLC. now owns 15,457 shares of the industrial products company's stock worth $6,549,000 after buying an additional 55 shares during the period. 68.58% of the stock is owned by institutional investors.

Deere & Company Stock Performance

NYSE DE opened at $468.75 on Thursday. Deere & Company has a 52-week low of $387.03 and a 52-week high of $533.78. 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 company has a market capitalization of $126.72 billion, a P/E ratio of 24.50, a P/E/G ratio of 3.01 and a beta of 1.00. The company has a fifty day moving average of $494.93 and a 200-day moving average of $490.02.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.62 by $0.13. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The company had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.33 billion. During the same period in the previous year, the firm posted $6.29 EPS. The firm's revenue was down 9.0% compared to the same quarter last year. As a group, equities research analysts predict that Deere & Company will post 19.32 EPS 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. Stockholders 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 dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Deere & Company's payout ratio is currently 33.87%.

Wall Street Analyst Weigh In

Several research analysts recently commented on DE shares. BMO Capital Markets reaffirmed a "market perform" rating and issued a $460.00 price objective (up from $425.00) on shares of Deere & Company in a report on Wednesday, May 21st. Truist Financial cut their price target on shares of Deere & Company from $619.00 to $602.00 and set a "buy" rating for the company in a report on Friday, August 15th. Wall Street Zen raised shares of Deere & Company from a "sell" rating to a "hold" rating in a report on Saturday, September 13th. Oppenheimer raised their price target on shares of Deere & Company from $560.00 to $566.00 and gave the company an "outperform" rating in a report on Friday, August 15th. Finally, DA Davidson cut their price target on shares of Deere & Company from $595.00 to $580.00 and set a "buy" rating for the company in a report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $520.87.

Deere & Company 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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