New Age Alpha Advisors LLC Lowers Holdings in Deere & Company (NYSE:DE)

Key Points

• New Age Alpha Advisors LLC has decreased its holdings in Deere & Company by 19.7%, currently owning 19,652 shares valued at approximately $9.22 million.
• Deere & Company reported an earnings per share (EPS) of $6.64 for the last quarter, exceeding the consensus estimate significantly, despite a 17.9% year-over-year revenue decline.
• The company has announced a quarterly dividend of $1.62 per share, with a dividend yield of 1.3% and a payout ratio of 31.35%.

New Age Alpha Advisors LLC cut its position in Deere & Company (NYSE:DE - Free Report) by 19.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,652 shares of the industrial products company's stock after selling 4,827 shares during the quarter. New Age Alpha Advisors LLC's holdings in Deere & Company were worth $9,224,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Assenagon Asset Management S.A. lifted its stake in Deere & Company by 58.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 13,625 shares of the industrial products company's stock worth $6,395,000 after purchasing an additional 5,053 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its position in shares of Deere & Company by 10.7% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 8,280 shares of the industrial products company's stock valued at $3,863,000 after buying an additional 798 shares in the last quarter. Stenger Family Office LLC purchased a new stake in shares of Deere & Company during the 4th quarter valued at $3,144,000. Stratos Investment Management LLC purchased a new stake in shares of Deere & Company during the 1st quarter valued at $271,000. Finally, Telos Capital Management Inc. raised its position in shares of Deere & Company by 28.2% during the 1st quarter. Telos Capital Management Inc. now owns 3,391 shares of the industrial products company's stock valued at $1,592,000 after buying an additional 746 shares in the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Trading Up 2.0%

Shares of DE opened at $511.13 on Tuesday. Deere & Company has a 1-year low of $340.20 and a 1-year high of $533.78. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.76. The firm's 50-day moving average price is $512.28 and its 200-day moving average price is $488.12. The firm has a market capitalization of $138.43 billion, a price-to-earnings ratio of 24.73, a PEG ratio of 3.18 and a beta of 1.06.

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

Deere & Company Dividend Announcement

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 paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $6.48 annualized dividend and a yield of 1.3%. Deere & Company's payout ratio is presently 31.35%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on DE shares. Truist Financial raised their price objective on shares of Deere & Company from $546.00 to $619.00 and gave the company a "buy" rating in a research report on Friday, May 16th. Melius Research upgraded shares of Deere & Company from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 6th. JPMorgan Chase & Co. raised their price objective on shares of Deere & Company from $490.00 to $540.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Evercore ISI raised their price objective on shares of Deere & Company from $455.00 to $493.00 and gave the company an "in-line" rating in a research report on Monday, May 19th. Finally, Wall Street Zen cut shares of Deere & Company from a "hold" rating to a "sell" rating in a research report on Friday, May 30th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $515.50.

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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