Deere & Company (NYSE:DE) Shares Sold by Concorde Asset Management LLC

Concorde Asset Management LLC cut its stake in Deere & Company (NYSE:DE) by 62.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 605 shares of the industrial products company’s stock after selling 991 shares during the period. Concorde Asset Management LLC’s holdings in Deere & Company were worth $226,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in DE. True Wealth Design LLC raised its holdings in shares of Deere & Company by 1,180.0% during the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 59 shares during the period. Pineridge Advisors LLC raised its holdings in shares of Deere & Company by 725.0% during the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 58 shares during the period. Livelsberger Financial Advisory acquired a new stake in shares of Deere & Company during the fourth quarter worth $30,000. Spartan Planning & Wealth Management acquired a new stake in shares of Deere & Company during the fourth quarter worth $33,000. Finally, Core Wealth Advisors Inc. raised its holdings in shares of Deere & Company by 466.7% during the fourth quarter. Core Wealth Advisors Inc. now owns 85 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 70 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DE has been the topic of a number of research reports. Bank of America increased their target price on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Truist Financial reaffirmed a “buy” rating and issued a $443.00 price objective (up previously from $439.00) on shares of Deere & Company in a report on Friday, August 16th. JPMorgan Chase & Co. dropped their price objective on shares of Deere & Company from $375.00 to $360.00 and set a “neutral” rating on the stock in a report on Tuesday, August 13th. BMO Capital Markets began coverage on shares of Deere & Company in a report on Friday, August 9th. They issued a “market perform” rating and a $400.00 price objective on the stock. Finally, Oppenheimer dropped their price objective on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Fourteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Deere & Company has a consensus rating of “Hold” and an average target price of $409.88.

Deere & Company Stock Performance

NYSE:DE opened at $409.53 on Friday. Deere & Company has a twelve month low of $340.20 and a twelve month high of $417.46. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. The company has a 50-day moving average of $375.43 and a 200-day moving average of $382.37. The firm has a market cap of $112.85 billion, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 1.29 and a beta of 0.92.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, beating the consensus estimate of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The company had revenue of $11.39 billion during the quarter, compared to analyst estimates of $10.94 billion. During the same quarter last year, the firm posted $10.20 EPS. The business’s revenue for the quarter was down 20.3% on a year-over-year basis. Analysts forecast that Deere & Company will post 25.07 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 Friday, November 8th. Stockholders of record on Monday, September 30th will be given a dividend of $1.47 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.44%. Deere & Company’s dividend payout ratio (DPR) is 17.70%.

Insider Activity

In other news, insider Cory J. Reed sold 13,370 shares of the firm’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the completion of the transaction, the insider now owns 41,642 shares in the company, valued at approximately $15,725,268.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.26% of the company’s stock.

About Deere & Company

Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.