Peoples Financial Services CORP. Reduces Holdings in Deere & Company $DE

Key Points

• Peoples Financial Services CORP. reduced its holdings in Deere & Company by 20.9% during the 2nd quarter, owning a total of 2,468 shares valued at approximately $1.255 million.
• Hedge funds and institutional investors hold 68.58% of Deere & Company's stock, with several funds significantly increasing their positions in the company during the first quarter.
• Deere & Company reported an EPS of $4.75 for the recent quarter, exceeding expectations and marking a 9.0% decline in revenue year-over-year, with a net margin of 11.72%.

Peoples Financial Services CORP. decreased its position in shares of Deere & Company (NYSE:DE - Free Report) by 20.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,468 shares of the industrial products company's stock after selling 653 shares during the quarter. Peoples Financial Services CORP.'s holdings in Deere & Company were worth $1,255,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in DE. Nuveen LLC purchased a new position in shares of Deere & Company during the first quarter worth about $571,073,000. Voya Investment Management LLC grew its holdings in shares of Deere & Company by 97.1% during the first quarter. Voya Investment Management LLC now owns 733,871 shares of the industrial products company's stock worth $344,442,000 after purchasing an additional 361,526 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Deere & Company by 4.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company's stock worth $3,227,258,000 after purchasing an additional 286,253 shares during the last quarter. Sarasin & Partners LLP grew its holdings in shares of Deere & Company by 50.4% during the first quarter. Sarasin & Partners LLP now owns 771,866 shares of the industrial products company's stock worth $362,275,000 after purchasing an additional 258,522 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Deere & Company by 23.4% during the first quarter. Invesco Ltd. now owns 1,353,255 shares of the industrial products company's stock worth $635,150,000 after buying an additional 256,806 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company's stock.

Deere & Company Price Performance

Shares of NYSE:DE opened at $463.93 on Monday. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76. The company has a market cap of $125.41 billion, a P/E ratio of 24.25, a PEG ratio of 2.99 and a beta of 1.00. Deere & Company has a 52 week low of $387.03 and a 52 week high of $533.78. The company has a 50-day moving average price of $489.67 and a 200 day moving average price of $489.95.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating analysts' consensus estimates of $4.62 by $0.13. The firm had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The firm's 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. Research analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be given 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 is Tuesday, September 30th. Deere & Company's dividend payout ratio (DPR) is presently 33.87%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Melius raised Deere & Company from a "hold" rating to a "buy" rating in a report on Friday, June 6th. DA Davidson lowered their price target on Deere & Company from $595.00 to $580.00 and set a "buy" rating on the stock in a report on Monday, August 18th. Evercore ISI set a $491.00 price target on Deere & Company in a report on Tuesday, August 19th. Truist Financial lowered their price target on Deere & Company from $619.00 to $602.00 and set a "buy" rating on the stock in a report on Friday, August 15th. Finally, Melius Research raised Deere & Company from a "hold" rating to a "strong-buy" rating in a report on Friday, June 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Deere & Company currently has an average rating of "Moderate Buy" and an average price target of $518.06.

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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