Deere & Company $DE Shares Sold by Addenda Capital Inc.

Addenda Capital Inc. decreased its stake in shares of Deere & Company (NYSE:DE) by 0.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,863 shares of the industrial products company’s stock after selling 95 shares during the quarter. Addenda Capital Inc.’s holdings in Deere & Company were worth $8,092,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Southland Equity Partners LLC grew its stake in shares of Deere & Company by 3.9% during the second quarter. Southland Equity Partners LLC now owns 534 shares of the industrial products company’s stock worth $271,000 after purchasing an additional 20 shares in the last quarter. Chicago Partners Investment Group LLC increased its position in Deere & Company by 1.2% during 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 during the period. Tyler Stone Wealth Management raised its position in Deere & Company by 1.7% in the 1st quarter. Tyler Stone Wealth Management now owns 1,230 shares of the industrial products company’s stock valued at $577,000 after purchasing an additional 21 shares during the last quarter. McLean Asset Management Corp raised its holdings in shares of Deere & Company by 4.0% in the second quarter. McLean Asset Management Corp now owns 544 shares of the industrial products company’s stock valued at $283,000 after buying an additional 21 shares during the last quarter. Finally, Sunbelt Securities Inc. lifted its position in Deere & Company by 2.4% during the 1st quarter. Sunbelt Securities Inc. now owns 925 shares of the industrial products company’s stock worth $434,000 after acquiring an additional 22 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Deere & Company from a “hold” rating to a “sell” rating in a report on Friday. Truist Financial reduced their target price on Deere & Company from $619.00 to $602.00 and set a “buy” rating on the stock in a research note on Friday, August 15th. DA Davidson decreased their price target on shares of Deere & Company from $595.00 to $580.00 and set a “buy” rating on the stock in a research note on Monday, August 18th. Oppenheimer lowered their price objective 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. Finally, JPMorgan Chase & Co. dropped their price target on shares of Deere & Company from $500.00 to $495.00 and set a “neutral” rating for the company in a research report on Tuesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, Deere & Company currently has a consensus rating of “Moderate Buy” and an average price target of $518.06.

Deere & Company Trading Down 0.6%

Shares of NYSE DE opened at $463.93 on Friday. The stock’s 50 day moving average price is $489.67 and its two-hundred day moving average price is $489.78. Deere & Company has a 52-week low of $387.03 and a 52-week high of $533.78. The stock has a market capitalization of $125.41 billion, a P/E ratio of 24.25, a PEG ratio of 2.99 and a beta of 1.00. 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 (NYSE:DE) last issued its 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 the consensus estimate of $10.33 billion. Deere & Company had a return on equity of 21.97% and a net margin of 11.72%.Deere & Company’s quarterly revenue was down 9.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.29 earnings per share. On average, analysts anticipate that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Deere & Company’s dividend payout ratio is 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.