Bayforest Capital Ltd Sells 54 Shares of Deere & Company $DE

Bayforest Capital Ltd cut its position in shares of Deere & Company (NYSE:DE) by 9.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 547 shares of the industrial products company’s stock after selling 54 shares during the quarter. Bayforest Capital Ltd’s holdings in Deere & Company were worth $278,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Activest Wealth Management grew its holdings in shares of Deere & Company by 2,750.0% during the first quarter. Activest Wealth Management now owns 57 shares of the industrial products company’s stock worth $27,000 after buying an additional 55 shares in the last quarter. Hughes Financial Services LLC bought a new position in Deere & Company in the first quarter valued at approximately $29,000. Cornerstone Planning Group LLC increased its position in shares of Deere & Company by 116.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 36 shares during the last quarter. Marshall & Sullivan Inc. WA acquired a new position in shares of Deere & Company during the 2nd quarter worth approximately $38,000. Finally, Livelsberger Financial Advisory acquired a new position in shares of Deere & Company during the 2nd quarter worth approximately $39,000. 68.58% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

DE has been the topic of several recent analyst reports. 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 research report on Monday, August 18th. Citigroup reduced their price target on Deere & Company from $525.00 to $515.00 and set a “neutral” rating for the company in a research note on Tuesday, October 7th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Deere & Company in a report on Wednesday, October 8th. Evercore ISI set a $491.00 price objective on Deere & Company in a report on Tuesday, August 19th. Finally, Truist Financial lifted their price objective on Deere & Company from $602.00 to $609.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, Deere & Company currently has a consensus rating of “Moderate Buy” and an average target price of $511.76.

Deere & Company Price Performance

Shares of DE opened at $448.62 on Thursday. Deere & Company has a 12-month low of $387.03 and a 12-month high of $533.78. The business has a 50-day simple moving average of $475.28 and a two-hundred day simple moving average of $487.71. 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 stock has a market cap of $121.28 billion, a PE ratio of 23.45, a PEG ratio of 2.88 and a beta of 1.02.

Deere & Company (NYSE:DE) last issued its 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 return on equity of 21.97% and a net margin of 11.72%.The business had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.33 billion. During the same quarter in the prior year, the firm earned $6.29 EPS. The business’s revenue for the quarter was down 9.0% compared to the same quarter last year. Analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be given a $1.62 dividend. 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 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.