Deere & Company $DE Stock Position Trimmed by Cutler Investment Counsel LLC

Cutler Investment Counsel LLC cut its position in Deere & Company (NYSE:DE) by 0.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 33,851 shares of the industrial products company’s stock after selling 108 shares during the quarter. Deere & Company makes up about 1.9% of Cutler Investment Counsel LLC’s investment portfolio, making the stock its 19th largest position. Cutler Investment Counsel LLC’s holdings in Deere & Company were worth $17,268,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of DE. Nuveen LLC bought a new stake in Deere & Company in the 1st quarter valued at about $571,073,000. Voya Investment Management LLC lifted its position in Deere & Company by 97.1% in the 1st quarter. Voya Investment Management LLC now owns 733,871 shares of the industrial products company’s stock valued at $344,442,000 after purchasing an additional 361,526 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Deere & Company by 4.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock valued at $3,227,258,000 after purchasing an additional 286,253 shares during the last quarter. Invesco Ltd. lifted its position in Deere & Company by 23.4% in the 1st quarter. Invesco Ltd. now owns 1,353,255 shares of the industrial products company’s stock valued at $635,150,000 after purchasing an additional 256,806 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its position in Deere & Company by 874.8% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 243,914 shares of the industrial products company’s stock valued at $124,028,000 after purchasing an additional 218,893 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

DE has been the topic of several recent research reports. Truist Financial lifted their price objective on shares of Deere & Company from $602.00 to $609.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Oppenheimer dropped 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 report on Thursday, September 18th. Weiss Ratings restated a “hold (c+)” rating on shares of Deere & Company in a research report on Wednesday, October 8th. Wolfe Research dropped their price target on shares of Deere & Company from $550.00 to $520.00 and set an “outperform” rating on the stock in a research report on Friday, October 3rd. Finally, Wall Street Zen upgraded shares of Deere & Company from a “sell” rating to a “hold” rating in a research report on Saturday, October 4th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $513.88.

Deere & Company Stock Down 1.6%

DE stock opened at $439.00 on Tuesday. Deere & Company has a 52 week low of $387.03 and a 52 week high of $533.78. The company has a market capitalization of $118.67 billion, a price-to-earnings ratio of 22.95, a price-to-earnings-growth ratio of 2.87 and a beta of 1.02. The firm’s 50-day moving average is $477.70 and its two-hundred day moving average is $488.26. 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 announced its quarterly earnings data 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. The company had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The business’s revenue was down 9.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.29 EPS. On average, analysts forecast that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $6.48 annualized dividend and a dividend yield of 1.5%. Deere & Company’s payout ratio is currently 33.87%.

Deere & 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.