BIP Wealth LLC Reduces Stock Position in Deere & Company $DE

BIP Wealth LLC trimmed its holdings in Deere & Company (NYSE:DE) by 29.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 438 shares of the industrial products company’s stock after selling 184 shares during the period. BIP Wealth LLC’s holdings in Deere & Company were worth $223,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in DE. Southland Equity Partners LLC grew its position in shares of Deere & Company by 3.9% in the second quarter. Southland Equity Partners LLC now owns 534 shares of the industrial products company’s stock valued at $271,000 after purchasing an additional 20 shares in the last quarter. Vivid Wealth Management LLC grew its holdings in Deere & Company by 1.9% during the 2nd quarter. Vivid Wealth Management LLC now owns 1,088 shares of the industrial products company’s stock valued at $553,000 after buying an additional 20 shares in the last quarter. Werba Rubin Papier Wealth Management increased its position in shares of Deere & Company by 3.0% during the second quarter. Werba Rubin Papier Wealth Management now owns 676 shares of the industrial products company’s stock valued at $344,000 after buying an additional 20 shares during the period. Chicago Partners Investment Group LLC lifted its holdings in shares of Deere & Company by 1.2% in the first quarter. Chicago Partners Investment Group LLC now owns 1,803 shares of the industrial products company’s stock worth $852,000 after buying an additional 21 shares in the last quarter. Finally, Tyler Stone Wealth Management boosted its position in shares of Deere & Company by 1.7% in the first quarter. Tyler Stone Wealth Management now owns 1,230 shares of the industrial products company’s stock valued at $577,000 after acquiring an additional 21 shares during the period. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Evercore ISI set a $491.00 target price on shares of Deere & Company in a report on Tuesday, August 19th. Wolfe Research decreased their price target on shares of Deere & Company from $550.00 to $520.00 and set an “outperform” rating on the stock in a report on Friday, October 3rd. Daiwa Capital Markets lowered their price objective on Deere & Company from $565.00 to $530.00 and set an “outperform” rating on the stock in a research report on Thursday, September 25th. Jefferies Financial Group reduced their target price on Deere & Company from $510.00 to $440.00 and set a “hold” rating for the company in a research report on Wednesday, October 8th. Finally, Zacks Research lowered Deere & Company from a “hold” rating to a “strong sell” rating in a research note on Monday, October 20th. One 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’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $518.72.

Deere & Company Stock Up 0.8%

DE opened at $473.01 on Friday. The business’s fifty day simple moving average is $469.88 and its 200 day simple moving average is $489.02. Deere & Company has a 52 week low of $387.03 and a 52 week high of $533.78. 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 $127.87 billion, a PE ratio of 24.73, a P/E/G ratio of 3.04 and a beta of 1.02.

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

Deere & Company Announces Dividend

The firm 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 dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a 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.