Deere & Company (NYSE:DE) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC reduced its holdings in Deere & Company (NYSE:DE) by 70.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 82,300 shares of the industrial products company’s stock after selling 198,200 shares during the quarter. Renaissance Technologies LLC’s holdings in Deere & Company were worth $30,750,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Deere & Company by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock valued at $9,031,500,000 after acquiring an additional 263,709 shares during the period. Janus Henderson Group PLC increased its position in Deere & Company by 0.5% in the 1st 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 acquiring an additional 19,200 shares during the period. Parnassus Investments LLC increased its position in Deere & Company by 22.4% in 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 acquiring an additional 705,771 shares during the period. Dimensional Fund Advisors LP increased its position in Deere & Company by 15.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock valued at $802,037,000 after acquiring an additional 279,627 shares during the period. Finally, Fisher Asset Management LLC increased its position 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 valued at $592,391,000 after acquiring an additional 150,713 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Performance

Shares of Deere & Company stock opened at $409.53 on Friday. The stock has a market cap of $112.85 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 1.29 and a beta of 0.92. The business has a fifty day simple moving average of $375.43 and a 200-day simple moving average of $382.37. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. Deere & Company has a 12 month low of $340.20 and a 12 month high of $417.46.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping the consensus estimate of $5.63 by $0.66. The business had revenue of $11.39 billion during the quarter, compared to analysts’ expectations of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. Deere & Company’s revenue was down 20.3% compared to the same quarter last year. During the same quarter last year, the firm posted $10.20 earnings per share. On average, sell-side analysts anticipate that Deere & Company will post 25.07 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be issued a dividend of $1.47 per share. The ex-dividend date is Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.44%. Deere & Company’s dividend payout ratio is 17.70%.

Insider Buying and Selling

In related news, insider Cory J. Reed sold 13,370 shares of the 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 sale, the insider now directly owns 41,642 shares in the company, valued at $15,725,268.46. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.26% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on DE. Hsbc Global Res lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. BMO Capital Markets began coverage on Deere & Company in a research note on Friday, August 9th. They set a “market perform” rating and a $400.00 price target for the company. HSBC lowered Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Evercore ISI increased their price target on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research note on Monday, August 19th. Finally, Truist Financial reaffirmed a “buy” rating and set a $443.00 price target (up from $439.00) on shares of Deere & Company in a research note on Friday, August 16th. Fourteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $409.88.

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.