Wedge Capital Management L L P NC trimmed its position in shares of Deere & Company (NYSE:DE – Free Report) by 93.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 533 shares of the industrial products company’s stock after selling 7,671 shares during the period. Wedge Capital Management L L P NC’s holdings in Deere & Company were worth $338,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently made changes to their positions in the company. Brighton Jones LLC grew its position in Deere & Company by 39.1% during the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock valued at $1,927,000 after buying an additional 1,278 shares during the period. Schnieders Capital Management LLC. increased its holdings in Deere & Company by 7.8% in the second quarter. Schnieders Capital Management LLC. now owns 2,076 shares of the industrial products company’s stock valued at $1,056,000 after buying an additional 150 shares in the last quarter. Jump Financial LLC acquired a new position in shares of Deere & Company in the second quarter worth about $2,153,000. NewEdge Advisors LLC raised its position in shares of Deere & Company by 6.0% in the second quarter. NewEdge Advisors LLC now owns 18,758 shares of the industrial products company’s stock worth $9,538,000 after acquiring an additional 1,067 shares during the period. Finally, Main Street Financial Solutions LLC boosted its stake in shares of Deere & Company by 6.7% during the 2nd quarter. Main Street Financial Solutions LLC now owns 1,551 shares of the industrial products company’s stock worth $789,000 after acquiring an additional 97 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.
Deere & Company Stock Down 0.6%
DE opened at $608.73 on Friday. Deere & Company has a twelve month low of $433.00 and a twelve month high of $674.19. The company has a quick ratio of 1.95, a current ratio of 2.18 and a debt-to-equity ratio of 1.54. The company has a 50-day moving average price of $603.23 and a 200 day moving average price of $587.77. The company has a market cap of $164.32 billion, a PE ratio of 34.49, a price-to-earnings-growth ratio of 2.57 and a beta of 0.90.
Deere & Company Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th were issued a dividend of $1.62 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.1%. Deere & Company’s dividend payout ratio is presently 36.71%.
Analyst Ratings Changes
A number of equities research analysts have recently commented on the company. Robert W. Baird dropped their target price on Deere & Company from $580.00 to $525.00 and set a “neutral” rating on the stock in a research report on Friday, May 22nd. JPMorgan Chase & Co. lowered their price target on Deere & Company from $590.00 to $570.00 and set a “neutral” rating on the stock in a research report on Friday. Weiss Ratings raised Deere & Company from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Bank of America cut their price objective on Deere & Company from $672.00 to $607.50 and set a “neutral” rating for the company in a research report on Friday, May 22nd. Finally, Truist Financial increased their target price on Deere & Company from $759.00 to $812.00 and gave the company a “buy” rating in a research report on Thursday, July 2nd. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, Deere & Company presently has a consensus rating of “Moderate Buy” and a consensus price target of $641.98.
Get Our Latest Stock Analysis on DE
About Deere & Company
Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.
The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.
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