Birmingham Capital Management Co. Inc. AL Trims Stock Position in Deere & Company $DE

Birmingham Capital Management Co. Inc. AL lessened its position in Deere & Company (NYSE:DE) by 2.2% during the second quarter, Holdings Channel reports. The fund owned 32,310 shares of the industrial products company’s stock after selling 715 shares during the period. Deere & Company comprises 7.3% of Birmingham Capital Management Co. Inc. AL’s holdings, making the stock its biggest holding. Birmingham Capital Management Co. Inc. AL’s holdings in Deere & Company were worth $16,429,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes 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 valued at $271,000 after buying an additional 20 shares during the last quarter. Vivid Wealth Management LLC grew its stake in shares of Deere & Company by 1.9% during the second 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 during the last quarter. Werba Rubin Papier Wealth Management grew its stake 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 last quarter. Chicago Partners Investment Group LLC grew its stake in shares of 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 valued at $852,000 after buying an additional 21 shares during the last quarter. Finally, Tyler Stone Wealth Management grew its stake in shares of Deere & Company by 1.7% during the first quarter. Tyler Stone Wealth Management now owns 1,230 shares of the industrial products company’s stock valued at $577,000 after buying an additional 21 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Performance

Deere & Company stock opened at $458.63 on Monday. The company has a current ratio of 2.19, a quick ratio of 1.98 and a debt-to-equity ratio of 1.76. The firm has a 50-day moving average of $473.24 and a 200-day moving average of $487.89. The firm has a market cap of $123.98 billion, a P/E ratio of 23.97, a P/E/G ratio of 2.95 and a beta of 1.02. Deere & Company has a 1-year low of $387.03 and a 1-year high of $533.78.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, August 14th. The industrial products company reported $4.75 earnings per share for the quarter, topping 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%. Deere & Company’s revenue for the quarter was down 9.0% on a year-over-year basis. During the same period in the prior year, the business posted $6.29 earnings per share. Sell-side analysts expect that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $1.62 per share. The ex-dividend date is Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.4%. Deere & Company’s dividend payout ratio is 33.87%.

Analyst Ratings Changes

DE has been the topic of a number of recent research reports. Wolfe Research reduced their price objective on Deere & Company from $550.00 to $520.00 and set an “outperform” rating on the stock in a research note on Friday, October 3rd. Jefferies Financial Group reduced their price objective on Deere & Company from $510.00 to $440.00 and set a “hold” rating on the stock in a research note on Wednesday, October 8th. JPMorgan Chase & Co. reduced their price objective on Deere & Company from $495.00 to $480.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 14th. Robert W. Baird reduced their price objective on Deere & Company from $488.00 to $467.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Deere & Company in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, Deere & Company has a consensus rating of “Moderate Buy” and an average price target of $517.35.

Deere & Company 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.