Burney Co. Trims Stock Holdings in Deere & Company $DE

Burney Co. cut its holdings in shares of Deere & Company (NYSE:DE) by 6.3% during the second quarter, HoldingsChannel.com reports. The fund owned 18,056 shares of the industrial products company’s stock after selling 1,205 shares during the quarter. Burney Co.’s holdings in Deere & Company were worth $9,181,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Nuveen LLC acquired a new position in Deere & Company in the first quarter valued at $571,073,000. TD Asset Management Inc grew its holdings in shares of Deere & Company by 132.0% during the second quarter. TD Asset Management Inc now owns 721,638 shares of the industrial products company’s stock worth $366,946,000 after buying an additional 410,636 shares during the last quarter. Voya Investment Management LLC increased 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 acquiring an additional 361,526 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Deere & Company by 4.3% during 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 acquiring an additional 286,253 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Deere & Company by 23.4% during the 1st quarter. Invesco Ltd. now owns 1,353,255 shares of the industrial products company’s stock valued at $635,150,000 after acquiring an additional 256,806 shares during the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DE has been the topic of a number of recent research reports. Daiwa Capital Markets dropped their target price on Deere & Company from $565.00 to $530.00 and set an “outperform” rating on the stock in a report on Thursday, September 25th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Deere & Company in a research report on Wednesday, October 8th. Jefferies Financial Group cut their price objective on shares of Deere & Company from $510.00 to $440.00 and set a “hold” rating for the company in a research report on Wednesday, October 8th. Truist Financial raised their target price on shares of Deere & Company from $602.00 to $609.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Finally, Evercore ISI set a $491.00 target price on shares of Deere & Company in a report on Tuesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $518.72.

Deere & Company Stock Performance

NYSE:DE opened at $461.41 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. Deere & Company has a fifty-two week low of $387.03 and a fifty-two week high of $533.78. The stock has a market cap of $124.73 billion, a PE ratio of 24.12, a price-to-earnings-growth ratio of 3.05 and a beta of 1.02. The firm’s fifty day simple moving average is $467.74 and its 200-day simple moving average is $489.95.

Deere & Company (NYSE:DE) last announced its quarterly earnings data 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 during 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 for the quarter was down 9.0% compared to the same quarter last year. During the same quarter last year, the business earned $6.29 earnings per share. 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 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%.

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.