Deere & Company (NYSE:DE) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board decreased its holdings in Deere & Company (NYSE:DE) by 17.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 107,054 shares of the industrial products company’s stock after selling 21,972 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Deere & Company were worth $39,999,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Benjamin Edwards Inc. grew its position in Deere & Company by 5.3% in the second quarter. Benjamin Edwards Inc. now owns 13,916 shares of the industrial products company’s stock worth $5,199,000 after buying an additional 703 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its position in Deere & Company by 2.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 16,147 shares of the industrial products company’s stock worth $6,033,000 after purchasing an additional 362 shares in the last quarter. Ieq Capital LLC grew its position in Deere & Company by 5.1% during the 2nd quarter. Ieq Capital LLC now owns 15,345 shares of the industrial products company’s stock worth $5,733,000 after purchasing an additional 751 shares in the last quarter. Brighton Jones LLC grew its position in Deere & Company by 6.4% during the 2nd quarter. Brighton Jones LLC now owns 6,219 shares of the industrial products company’s stock worth $2,324,000 after purchasing an additional 372 shares in the last quarter. Finally, MRP Capital Investments LLC purchased a new position in Deere & Company during the 2nd quarter worth approximately $280,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

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 PE ratio of 12.22, a PEG ratio of 1.29 and a beta of 0.92. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85. Deere & Company has a 1 year low of $340.20 and a 1 year high of $417.46. The company has a fifty day simple moving average of $376.24 and a 200 day simple moving average of $382.77.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) 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 company had revenue of $11.39 billion during the quarter, compared to analysts’ expectations of $10.94 billion. During the same period in the prior year, the company earned $10.20 earnings per share. The business’s quarterly revenue was down 20.3% compared to the same quarter last year. 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 declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date is Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is 17.70%.

Insider Buying and Selling at Deere & Company

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the company’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 sale, the insider now directly owns 41,642 shares in the company, valued at $15,725,268.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Bank of America lifted their price objective on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Oppenheimer lowered their price objective on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Morgan Stanley lowered their price objective on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. HSBC cut shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Finally, Truist Financial restated a “buy” rating and set a $443.00 price target (up from $439.00) on shares of Deere & Company in a report on Friday, August 16th. Fourteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $409.88.

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.