Probity Advisors Inc. Sells 124 Shares of Deere & Company (NYSE:DE)

Probity Advisors Inc. lowered its position in Deere & Company (NYSE:DE) by 3.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,619 shares of the industrial products company’s stock after selling 124 shares during the quarter. Probity Advisors Inc.’s holdings in Deere & Company were worth $1,510,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of DE. Vanguard Group Inc. grew its holdings in Deere & Company by 1.2% during the first quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock worth $9,031,500,000 after purchasing an additional 263,709 shares during the period. Janus Henderson Group PLC lifted its position in shares of Deere & Company by 0.5% in the first 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 last quarter. Legal & General Group Plc boosted its stake in shares of Deere & Company by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 2,254,266 shares of the industrial products company’s stock worth $842,259,000 after acquiring an additional 60,255 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of 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 during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Deere & Company by 8.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,470,159 shares of the industrial products company’s stock valued at $603,854,000 after acquiring an additional 114,116 shares during the period. Institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Up 0.1 %

DE stock opened at $409.73 on Thursday. Deere & Company has a 52 week low of $340.20 and a 52 week high of $420.47. The business has a 50-day simple moving average of $390.66 and a 200 day simple moving average of $385.36. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The company has a market cap of $112.91 billion, a PE ratio of 12.32, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, beating the consensus estimate of $5.63 by $0.66. The company had revenue of $11.39 billion during the quarter, compared to analysts’ expectations of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The business’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 EPS. Sell-side analysts anticipate that Deere & Company will post 25.03 EPS for the current fiscal year.

Deere & Company Dividend Announcement

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

Analysts Set New Price Targets

DE has been the topic of several research reports. Oppenheimer decreased their price objective on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Truist Financial upped their price target on shares of Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Citigroup raised their price objective on shares of Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Bank of America upped their target price on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research report on Friday, August 16th. Finally, HSBC cut Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Twelve research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Deere & Company presently has an average rating of “Hold” and a consensus 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.