US Bancorp DE Trims Position in Deere & Company (NYSE:DE)

US Bancorp DE reduced its position in Deere & Company (NYSE:DE) by 2.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 288,064 shares of the industrial products company’s stock after selling 7,190 shares during the period. US Bancorp DE owned about 0.10% of Deere & Company worth $120,219,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Pathway Financial Advisers LLC grew its position in shares of Deere & Company by 53,338.6% in the third quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock valued at $356,602,000 after purchasing an additional 852,885 shares during the period. International Assets Investment Management LLC grew its holdings in Deere & Company by 46,892.9% in the 3rd quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company’s stock valued at $322,218,000 after buying an additional 770,451 shares during the period. Swedbank AB purchased a new stake in Deere & Company in the 1st quarter valued at about $191,628,000. Mawer Investment Management Ltd. purchased a new position in shares of Deere & Company during the 2nd quarter worth about $166,937,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Deere & Company by 15.0% in 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 acquiring an additional 279,627 shares during the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Down 0.4 %

Deere & Company stock traded down $1.81 during midday trading on Thursday, hitting $402.88. 132,240 shares of the stock were exchanged, compared to its average volume of 1,438,034. Deere & Company has a 1 year low of $340.20 and a 1 year high of $420.47. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87. The firm has a market cap of $111.02 billion, a P/E ratio of 12.18, a P/E/G ratio of 1.35 and a beta of 0.92. The company has a 50 day moving average price of $399.90 and a two-hundred day moving average price of $385.36.

Deere & Company (NYSE:DE) last announced its 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. The business 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 company’s revenue for the quarter was down 20.3% compared to the same quarter last year. During the same period in the previous year, the company earned $10.20 earnings per share. On average, sell-side analysts predict that Deere & Company will post 25.03 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is currently 17.70%.

Analyst Ratings Changes

DE has been the topic of a number of recent analyst reports. Morgan Stanley cut their price target on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. Truist Financial increased their target price on Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. boosted their price target on Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a research report on Friday, October 11th. HSBC downgraded Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $420.69.

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.