Triodos Investment Management BV Sells 20,200 Shares of Deere & Company $DE

Key Points

• Triodos Investment Management BV sold 20,200 shares of Deere & Company, reducing its position by 20.8%, leaving it with 76,900 shares valued at approximately $39.1 million.
• Several institutional investors have made adjustments to their positions in Deere, with Activest Wealth Management increasing their holdings by 2,750.0% in the first quarter.
• Deere & Company recently announced a quarterly dividend of $1.62 per share, with a yield of 1.4%, to be paid on November 10th, 2023.

Triodos Investment Management BV decreased its position in Deere & Company (NYSE:DE - Free Report) by 20.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,900 shares of the industrial products company's stock after selling 20,200 shares during the quarter. Deere & Company makes up approximately 2.9% of Triodos Investment Management BV's portfolio, making the stock its 12th largest position. Triodos Investment Management BV's holdings in Deere & Company were worth $39,103,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Activest Wealth Management boosted its holdings in shares of Deere & Company by 2,750.0% in the 1st quarter. Activest Wealth Management now owns 57 shares of the industrial products company's stock worth $27,000 after buying an additional 55 shares during the last quarter. Hughes Financial Services LLC purchased a new position in shares of Deere & Company in the 1st quarter worth about $29,000. Cornerstone Planning Group LLC boosted its holdings in shares of Deere & Company by 116.1% in the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock worth $31,000 after buying an additional 36 shares during the last quarter. Marshall & Sullivan Inc. WA purchased a new position in shares of Deere & Company in the 2nd quarter worth about $38,000. Finally, Livelsberger Financial Advisory purchased a new position in shares of Deere & Company in the 2nd quarter worth about $39,000. Institutional investors own 68.58% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Citigroup cut their price target on shares of Deere & Company from $525.00 to $515.00 and set a "neutral" rating on the stock in a report on Tuesday. DA Davidson cut their price target on shares of Deere & Company from $595.00 to $580.00 and set a "buy" rating on the stock in a report on Monday, August 18th. Wall Street Zen raised shares of Deere & Company from a "sell" rating to a "hold" rating in a report on Saturday, October 4th. Oppenheimer dropped their price objective on shares of Deere & Company from $566.00 to $512.00 and set an "outperform" rating on the stock in a report on Thursday, September 18th. Finally, Daiwa Capital Markets dropped their price objective on shares of Deere & Company from $565.00 to $530.00 and set an "outperform" rating on the stock in a report on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $513.88.

Deere & Company Trading Down 1.1%

Shares of Deere & Company stock opened at $455.73 on Friday. Deere & Company has a 12-month low of $387.03 and a 12-month high of $533.78. The company has a market cap of $123.20 billion, a price-to-earnings ratio of 23.82, a PEG ratio of 2.97 and a beta of 1.02. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. The company's 50-day moving average price is $480.23 and its 200-day moving average price is $488.58.

Deere & Company (NYSE:DE - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.33 billion. During the same period in the prior year, the firm posted $6.29 earnings per share. The company's revenue for the quarter was down 9.0% on a year-over-year basis. On average, equities analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be paid a $1.62 dividend. 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 dividend payout ratio (DPR) is currently 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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