Good Life Advisors LLC Lowers Position in Deere & Company $DE

Good Life Advisors LLC reduced its holdings in Deere & Company (NYSE:DE) by 10.0% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,841 shares of the industrial products company’s stock after selling 314 shares during the quarter. Good Life Advisors LLC’s holdings in Deere & Company were worth $1,445,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nuveen LLC bought a new position in shares of Deere & Company in the first quarter worth approximately $571,073,000. TD Asset Management Inc raised its position in shares of Deere & Company by 132.0% during the 2nd quarter. TD Asset Management Inc now owns 721,638 shares of the industrial products company’s stock valued at $366,946,000 after buying an additional 410,636 shares in the last quarter. Voya Investment Management LLC raised its position in shares of Deere & Company by 97.1% during 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 buying an additional 361,526 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of 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 worth $3,227,258,000 after acquiring an additional 286,253 shares during the last quarter. Finally, Invesco Ltd. grew its position in Deere & Company by 23.4% in the first quarter. Invesco Ltd. now owns 1,353,255 shares of the industrial products company’s stock worth $635,150,000 after acquiring an additional 256,806 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Citigroup lowered their price target on Deere & Company from $525.00 to $515.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 7th. Wolfe Research decreased their price objective on Deere & Company from $550.00 to $520.00 and set an “outperform” rating on the stock in a report on Friday, October 3rd. Oppenheimer dropped their target price on Deere & Company from $566.00 to $512.00 and set an “outperform” rating for the company in a research report on Thursday, September 18th. Truist Financial lifted their price target 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 price objective on shares of Deere & Company in a research note on Tuesday, August 19th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $520.00.

Deere & Company Stock Performance

NYSE:DE opened at $473.54 on Friday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.98 and a current ratio of 2.19. Deere & Company has a fifty-two week low of $387.79 and a fifty-two week high of $533.78. The firm has a market cap of $128.01 billion, a PE ratio of 24.75, a price-to-earnings-growth ratio of 3.05 and a beta of 1.04. The business has a 50 day moving average price of $465.98 and a 200-day moving average price of $490.57.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, beating analysts’ consensus estimates of $4.62 by $0.13. The company had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The firm’s revenue was down 9.0% compared to the same quarter last year. During the same period in the prior year, the business posted $6.29 EPS. Equities research analysts predict that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th were issued 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 was Tuesday, September 30th. Deere & Company’s dividend payout ratio 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.