Legacy Financial Advisors Inc. Cuts Position in Deere & Company (NYSE:DE)

Legacy Financial Advisors Inc. reduced its holdings in shares of Deere & Company (NYSE:DE) by 12.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,238 shares of the industrial products company’s stock after selling 180 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Deere & Company were worth $463,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Deere & Company by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock worth $9,031,500,000 after purchasing an additional 263,709 shares during the period. Janus Henderson Group PLC grew its stake in shares of Deere & Company by 0.5% in the first quarter. Janus Henderson Group PLC now owns 3,859,021 shares of the industrial products company’s stock valued at $1,585,028,000 after buying an additional 19,200 shares in the last quarter. Parnassus Investments LLC raised its holdings in shares of Deere & Company by 22.4% during the 4th quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock valued at $1,541,967,000 after buying an additional 705,771 shares during the period. Dimensional Fund Advisors LP lifted its position in Deere & Company by 15.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock worth $802,037,000 after acquiring an additional 279,627 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in Deere & Company by 11.3% in the 4th quarter. Fisher Asset Management LLC now owns 1,481,458 shares of the industrial products company’s stock worth $592,391,000 after acquiring an additional 150,713 shares during the period. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Down 0.9 %

DE stock opened at $405.89 on Friday. The firm has a market cap of $111.85 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 1.29 and a beta of 0.92. Deere & Company has a 1-year low of $340.20 and a 1-year high of $417.46. The firm has a fifty day moving average price of $376.24 and a two-hundred day moving average price of $382.77. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87.

Deere & Company (NYSE:DE) last announced its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The business had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. During the same quarter in the prior year, the firm earned $10.20 EPS. The company’s revenue for the quarter was down 20.3% compared to the same quarter last year. Research analysts predict that Deere & Company will post 25.07 EPS for the current year.

Deere & Company Announces Dividend

The business also recently declared 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. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s payout ratio is 17.70%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Hsbc Global Res lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Citigroup dropped their price target on shares of Deere & Company from $395.00 to $370.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 13th. Bank of America upped their price objective on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. Truist Financial reaffirmed a “buy” rating and set a $443.00 target price (up from $439.00) on shares of Deere & Company in a research report on Friday, August 16th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a report on Thursday, August 8th. Fourteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $409.88.

Insider Buying and Selling

In related news, insider Cory J. Reed sold 13,370 shares of the company’s stock in a transaction on Monday, June 24th. The stock was 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 directly owns 41,642 shares in the company, valued at approximately $15,725,268.46. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.26% of the company’s stock.

Deere & Company Profile

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.