Mutual of America Capital Management LLC Has $16.70 Million Position in Deere & Company $DE

Key Points

• Mutual of America Capital Management LLC has reduced its holdings in Deere & Company by 2.3%, owning 32,847 shares valued at approximately $16.70 million as of the end of Q2.
• Several institutions have been active with Deere's stock, with notable increases in holdings by Activest Wealth Management and Cornerstone Planning Group, reflecting a wider interest from institutional investors.
• Deere & Company recently reported earnings that surpassed estimates, posting $4.75 EPS and a revenue of $10.36 billion, despite a year-over-year revenue decline of 9%.

Mutual of America Capital Management LLC decreased its holdings in shares of Deere & Company (NYSE:DE - Free Report) by 2.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,847 shares of the industrial products company's stock after selling 790 shares during the quarter. Mutual of America Capital Management LLC's holdings in Deere & Company were worth $16,702,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Activest Wealth Management raised its holdings in Deere & Company by 2,750.0% in the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company's stock valued at $27,000 after acquiring an additional 55 shares during the period. Hughes Financial Services LLC acquired a new position in shares of Deere & Company in the first quarter valued at approximately $29,000. Cornerstone Planning Group LLC grew its position in shares of Deere & Company by 116.1% in the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 36 shares during the last quarter. Marshall & Sullivan Inc. WA bought a new position in shares of Deere & Company during the second quarter worth approximately $38,000. Finally, Livelsberger Financial Advisory acquired a new stake in Deere & Company during the 2nd quarter worth approximately $39,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on DE. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Deere & Company in a report on Wednesday, October 8th. Oppenheimer decreased their price target on shares of Deere & Company from $566.00 to $512.00 and set an "outperform" rating on the stock in a research note on Thursday, September 18th. Evercore ISI set a $491.00 price objective on shares of Deere & Company in a research note on Tuesday, August 19th. Daiwa Capital Markets decreased their target price on shares of Deere & Company from $565.00 to $530.00 and set an "outperform" rating on the stock in a research report on Thursday, September 25th. Finally, Jefferies Financial Group dropped their price target on shares of Deere & Company from $510.00 to $440.00 and set a "hold" rating for the company in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $517.35.

Deere & Company Price Performance

DE stock opened at $458.63 on Friday. The company's 50-day moving average price is $473.24 and its two-hundred day moving average price is $487.60. The firm has a market cap of $123.98 billion, a P/E ratio of 23.97, a P/E/G ratio of 2.95 and a beta of 1.02. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76. Deere & Company has a 12 month low of $387.03 and a 12 month high of $533.78.

Deere & Company (NYSE:DE - Get Free Report) last posted its quarterly 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. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The business had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.33 billion. During the same quarter last year, the business posted $6.29 EPS. The firm's revenue for the quarter was down 9.0% on a year-over-year basis. On average, analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. Deere & Company's payout ratio is 33.87%.

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.

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