World Equity Group Inc. Trims Stake in Deere & Company (NYSE:DE)

World Equity Group Inc. decreased its position in shares of Deere & Company (NYSE:DE) by 50.0% during the second quarter, Holdings Channel reports. The fund owned 618 shares of the industrial products company’s stock after selling 618 shares during the period. World Equity Group Inc.’s holdings in Deere & Company were worth $231,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in DE. True Wealth Design LLC grew its holdings in shares of Deere & Company by 1,180.0% during the 4th quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 59 shares during the period. Pineridge Advisors LLC boosted its position in shares of Deere & Company by 725.0% in the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 58 shares in the last quarter. Rakuten Securities Inc. bought a new stake in shares of Deere & Company in the 4th quarter worth approximately $28,000. Naples Money Management LLC bought a new stake in shares of Deere & Company in the 4th quarter worth approximately $29,000. Finally, Private Wealth Management Group LLC bought a new stake in shares of Deere & Company in the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Truist Financial reissued a “buy” rating and issued a $443.00 price target (up from $439.00) on shares of Deere & Company in a research report on Friday. BMO Capital Markets began coverage on Deere & Company in a research report on Friday, August 9th. They issued a “market perform” rating and a $400.00 price objective on the stock. DA Davidson lowered their price objective on Deere & Company from $483.00 to $465.00 and set a “buy” rating on the stock in a research report on Monday, May 20th. Oppenheimer lowered their price objective on Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Finally, Morgan Stanley increased their price target on Deere & Company from $430.00 to $450.00 in a report on Wednesday, May 15th. Thirteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Deere & Company currently has a consensus rating of “Hold” and a consensus price target of $422.35.

Insider Transactions at Deere & Company

In other news, insider Cory J. Reed sold 13,370 shares of Deere & Company stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $377.63, for a total value of $5,048,913.10. Following the sale, the insider now directly owns 41,642 shares of the company’s stock, valued at $15,725,268.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.26% of the company’s stock.

Deere & Company Price Performance

DE stock traded up $4.66 during trading on Friday, reaching $377.92. The company’s stock had a trading volume of 2,103,088 shares, compared to its average volume of 1,549,985. Deere & Company has a 1 year low of $340.20 and a 1 year high of $425.42. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81. The company has a market capitalization of $104.14 billion, a P/E ratio of 11.38, a price-to-earnings-growth ratio of 1.59 and a beta of 0.93. The company’s fifty day moving average is $367.47 and its 200-day moving average is $380.45.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The business had revenue of $11.39 billion during the quarter, compared to analyst estimates of $10.94 billion. During the same quarter in the prior year, the business posted $10.20 EPS. Deere & Company’s revenue for the quarter was down 20.3% compared to the same quarter last year. On average, research analysts expect that Deere & Company will post 25.41 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Friday, June 28th were issued a $1.47 dividend. The ex-dividend date was Friday, June 28th. This represents a $5.88 annualized dividend and a dividend yield of 1.56%. Deere & Company’s dividend payout ratio (DPR) is 17.70%.

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.