Oakview Capital Management L.P. Trims Stock Position in Deere & Company (NYSE:DE)

Oakview Capital Management L.P. reduced its position in shares of Deere & Company (NYSE:DE) by 59.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 10,725 shares of the industrial products company’s stock after selling 15,929 shares during the quarter. Deere & Company comprises approximately 12.6% of Oakview Capital Management L.P.’s holdings, making the stock its largest holding. Oakview Capital Management L.P.’s holdings in Deere & Company were worth $4,007,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of 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 purchasing an additional 263,709 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Deere & Company by 0.5% during 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 buying an additional 19,200 shares during the period. Legal & General Group Plc lifted its position in Deere & Company by 2.7% in the second quarter. Legal & General Group Plc now owns 2,254,266 shares of the industrial products company’s stock worth $842,259,000 after buying an additional 60,255 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Deere & Company by 15.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock worth $802,037,000 after buying an additional 279,627 shares during the period. Finally, Fisher Asset Management LLC boosted its stake in Deere & Company by 11.3% during the fourth quarter. Fisher Asset Management LLC now owns 1,481,458 shares of the industrial products company’s stock worth $592,391,000 after buying an additional 150,713 shares during the period. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Up 1.6 %

Shares of DE stock opened at $418.06 on Friday. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $419.63. The firm has a market capitalization of $115.20 billion, a PE ratio of 12.58, a P/E/G ratio of 1.36 and a beta of 0.92. 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 stock’s 50-day simple moving average is $379.51 and its 200-day simple moving average is $384.04.

Deere & Company (NYSE:DE) last posted its 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. The company had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The firm’s quarterly revenue was down 20.3% on a year-over-year basis. During the same period in the previous year, the firm posted $10.20 earnings per share. Equities analysts expect that Deere & Company will post 25.03 earnings per share for the current year.

Deere & Company Announces Dividend

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

Analyst Ratings Changes

Several analysts have issued reports on the stock. Oppenheimer dropped their target price on Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Truist Financial reissued 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. Bank of America upped their price objective on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. BMO Capital Markets assumed coverage on Deere & Company in a research report on Friday, August 9th. They set a “market perform” rating and a $400.00 target price for the company. Finally, JPMorgan Chase & Co. cut their price target on shares of Deere & Company from $375.00 to $360.00 and set a “neutral” rating on the stock in a report on Tuesday, August 13th. Thirteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target 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.