Rhumbline Advisers Trims Holdings in Deere & Company $DE

Rhumbline Advisers cut its position in shares of Deere & Company (NYSE:DE) by 4.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 466,930 shares of the industrial products company’s stock after selling 19,920 shares during the quarter. Rhumbline Advisers owned approximately 0.17% of Deere & Company worth $237,429,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. OLD National Bancorp IN raised its stake in Deere & Company by 2.6% during the second quarter. OLD National Bancorp IN now owns 24,000 shares of the industrial products company’s stock worth $12,204,000 after purchasing an additional 610 shares during the period. Providence Capital Advisors LLC increased its holdings in shares of Deere & Company by 2.1% during the 1st quarter. Providence Capital Advisors LLC now owns 14,639 shares of the industrial products company’s stock worth $6,871,000 after buying an additional 303 shares during the last quarter. Bragg Financial Advisors Inc increased its holdings in shares of Deere & Company by 12.7% during the 1st quarter. Bragg Financial Advisors Inc now owns 7,213 shares of the industrial products company’s stock worth $3,386,000 after buying an additional 813 shares during the last quarter. ASR Vermogensbeheer N.V. acquired a new position in Deere & Company in the first quarter valued at $13,588,000. Finally, United Asset Strategies Inc. purchased a new stake in Deere & Company during the first quarter valued at about $2,496,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Trading Up 2.2%

NYSE DE opened at $487.03 on Friday. The stock has a market cap of $131.66 billion, a P/E ratio of 25.46, a PEG ratio of 3.05 and a beta of 1.04. The company’s fifty day simple moving average is $466.30 and its 200-day simple moving average is $490.82. 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 has a 52 week low of $403.01 and a 52 week high of $533.78.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th were given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Tuesday, September 30th. Deere & Company’s dividend payout ratio is presently 33.87%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on DE. Wall Street Zen raised Deere & Company from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. Royal Bank Of Canada assumed coverage on shares of Deere & Company in a research report on Wednesday, October 22nd. They set an “outperform” rating and a $542.00 price target on the stock. DA Davidson dropped their price objective on shares of Deere & Company from $595.00 to $580.00 and set a “buy” rating for the company in a research report on Monday, August 18th. Truist Financial lifted their target price on shares of Deere & Company from $602.00 to $609.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Finally, Sanford C. Bernstein upped their price target on shares of Deere & Company from $487.00 to $521.00 and gave the stock a “market perform” rating in a research report on Thursday, November 13th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Deere & Company presently has a consensus rating of “Moderate Buy” and an average price target of $519.85.

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.