Deere & Company $DE Position Lowered by Abacus Planning Group Inc.

Abacus Planning Group Inc. trimmed its position in Deere & Company (NYSE:DE) by 3.2% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,835 shares of the industrial products company’s stock after selling 93 shares during the period. Abacus Planning Group Inc.’s holdings in Deere & Company were worth $1,442,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Trinity Legacy Partners LLC lifted its holdings in Deere & Company by 1.0% during the 2nd quarter. Trinity Legacy Partners LLC now owns 8,431 shares of the industrial products company’s stock worth $4,281,000 after buying an additional 87 shares during the last quarter. Hilltop National Bank bought a new position in Deere & Company during the second quarter worth $1,825,000. DMKC Advisory Services LLC boosted its holdings in Deere & Company by 199.1% in the second quarter. DMKC Advisory Services LLC now owns 13,039 shares of the industrial products company’s stock worth $6,508,000 after purchasing an additional 8,680 shares during the period. Naples Global Advisors LLC increased its stake in Deere & Company by 1.3% during the second quarter. Naples Global Advisors LLC now owns 4,827 shares of the industrial products company’s stock valued at $2,462,000 after purchasing an additional 61 shares during the last quarter. Finally, Pure Financial Advisors LLC acquired a new stake in shares of Deere & Company during the second quarter worth $565,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on DE. Melius raised shares of Deere & Company from a “hold” rating to a “buy” rating in a report on Friday, June 6th. JPMorgan Chase & Co. decreased their target price on Deere & Company from $500.00 to $495.00 and set a “neutral” rating for the company in a research note on Tuesday, September 2nd. Robert W. Baird dropped their price target on Deere & Company from $520.00 to $488.00 and set a “neutral” rating on the stock in a research report on Friday, August 15th. Truist Financial cut 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, Wall Street Zen downgraded Deere & Company from a “hold” rating to a “sell” rating in a research note on Friday, September 26th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $518.06.

Deere & Company Stock Performance

Shares of NYSE DE opened at $461.88 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 $124.86 billion, a PE ratio of 24.14, a P/E/G ratio of 2.91 and a beta of 1.03. The stock has a 50 day simple moving average of $485.74 and a 200-day simple moving average of $489.22. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating the consensus estimate of $4.62 by $0.13. The firm had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.The firm’s revenue was down 9.0% compared to the same quarter last year. During the same period last year, the firm earned $6.29 EPS. On average, equities research analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be paid 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 payout ratio is currently 33.87%.

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.