Deere & Company (NYSE:DE) Shares Sold by Profund Advisors LLC

Profund Advisors LLC reduced its stake in Deere & Company (NYSE:DE) by 1.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,208 shares of the industrial products company’s stock after selling 83 shares during the period. Profund Advisors LLC’s holdings in Deere & Company were worth $1,572,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Parnassus Investments LLC lifted its holdings in shares of 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 worth $1,541,967,000 after acquiring an additional 705,771 shares during the last quarter. Swedbank AB acquired a new stake in shares of Deere & Company in the first quarter valued at $191,628,000. Mawer Investment Management Ltd. purchased a new stake in shares of Deere & Company in the 2nd quarter valued at $166,937,000. Dimensional Fund Advisors LP lifted its stake 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, Vanguard Group Inc. grew 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 in the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Performance

Shares of DE stock opened at $408.83 on Tuesday. Deere & Company has a 1 year low of $340.20 and a 1 year high of $417.46. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. The firm has a market cap of $112.66 billion, a price-to-earnings ratio of 12.31, a PEG ratio of 1.29 and a beta of 0.92. The stock’s 50-day moving average is $376.98 and its two-hundred day moving average is $383.12.

Deere & Company (NYSE:DE) last released its quarterly 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 company had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The firm’s revenue was down 20.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $10.20 earnings per share. Analysts predict that Deere & Company will post 25.07 earnings per share for the current year.

Deere & Company Announces Dividend

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

Analyst Ratings Changes

Several brokerages have recently issued reports on DE. BMO Capital Markets initiated coverage on shares of Deere & Company in a research report on Friday, August 9th. They set a “market perform” rating and a $400.00 price target on the stock. Citigroup decreased their price target on shares of Deere & Company from $395.00 to $370.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. Morgan Stanley cut their price objective on Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Bank of America increased their price objective on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Finally, HSBC cut Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Thirteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $410.50.

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.