Northwestern Mutual Wealth Management Co. Sells 1,810 Shares of Deere & Company (NYSE:DE)

Northwestern Mutual Wealth Management Co. lowered its stake in shares of Deere & Company (NYSE:DE) by 1.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 103,462 shares of the industrial products company’s stock after selling 1,810 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Deere & Company were worth $38,657,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. 9258 Wealth Management LLC boosted its holdings in Deere & Company by 9.8% in the fourth quarter. 9258 Wealth Management LLC now owns 1,975 shares of the industrial products company’s stock valued at $790,000 after acquiring an additional 176 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Deere & Company during the 4th quarter worth approximately $603,000. The Manufacturers Life Insurance Company grew its position in shares of Deere & Company by 8.2% during the 4th quarter. The Manufacturers Life Insurance Company now owns 424,074 shares of the industrial products company’s stock worth $169,574,000 after buying an additional 32,146 shares during the period. NEOS Investment Management LLC lifted its holdings in Deere & Company by 66.9% in the fourth quarter. NEOS Investment Management LLC now owns 3,796 shares of the industrial products company’s stock valued at $1,518,000 after buying an additional 1,522 shares during the period. Finally, Rafferty Asset Management LLC boosted its stake in Deere & Company by 3.6% in the fourth quarter. Rafferty Asset Management LLC now owns 22,466 shares of the industrial products company’s stock valued at $8,983,000 after acquiring an additional 774 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Up 0.2 %

DE stock opened at $417.33 on Tuesday. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87. The stock has a market capitalization of $115.00 billion, a P/E ratio of 12.56, a P/E/G ratio of 1.36 and a beta of 0.92. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $419.63. The business has a 50-day moving average of $380.26 and a 200-day moving average of $384.41.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The firm 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 posted $10.20 EPS. The business’s revenue was down 20.3% on a year-over-year basis. On average, sell-side analysts anticipate that Deere & Company will post 25.03 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be given a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date is Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is currently 17.70%.

Analysts Set New Price Targets

Several analysts have commented on DE shares. JPMorgan Chase & Co. dropped their target price on shares of Deere & Company from $375.00 to $360.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. BMO Capital Markets initiated coverage on Deere & Company in a research note on Friday, August 9th. They issued a “market perform” rating and a $400.00 target price on the stock. Citigroup decreased their target price on Deere & Company from $395.00 to $370.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Finally, Hsbc Global Res cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Thirteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $410.50.

Deere & Company 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.