Deere & Company $DE Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC trimmed its position in Deere & Company (NYSE:DE) by 14.2% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 34,983 shares of the industrial products company’s stock after selling 5,792 shares during the quarter. New York Life Investment Management LLC’s holdings in Deere & Company were worth $23,493,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in DE. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of Deere & Company in the second quarter valued at about $27,000. Kilter Group LLC purchased a new stake in Deere & Company in the second quarter worth about $29,000. Solstein Capital LLC bought a new position in Deere & Company during the 2nd quarter worth about $30,000. Orion Capital Management LLC bought a new position in Deere & Company during the 2nd quarter worth about $32,000. Finally, Downshift Financial LLC increased its position in Deere & Company by 218.8% during the 3rd quarter. Downshift Financial LLC now owns 51 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 35 shares during the period. Institutional investors own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of DE stock opened at $686.83 on Wednesday. Deere & Company has a 1-year low of $455.90 and a 1-year high of $721.22. The stock’s 50-day moving average is $668.81 and its 200 day moving average is $609.76. The company has a market cap of $185.18 billion, a P/E ratio of 38.16, a PEG ratio of 1.96 and a beta of 0.89. The company has a debt-to-equity ratio of 1.45, a current ratio of 2.10 and a quick ratio of 1.89.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, August 20th. The industrial products company reported $5.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.69 by $0.41. The company had revenue of $12.61 billion for the quarter, compared to analyst estimates of $10.81 billion. Deere & Company had a return on equity of 18.10% and a net margin of 10.16%. The firm’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.75 earnings per share. Research analysts predict that Deere & Company will post 18.11 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 9th. Stockholders of record on Wednesday, September 30th were issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Wednesday, September 30th. Deere & Company’s dividend payout ratio (DPR) is currently 36.00%.

Wall Street Analyst Weigh In

DE has been the subject of several recent research reports. Truist Financial reduced their price target on shares of Deere & Company from $812.00 to $804.00 and set a “buy” rating for the company in a report on Monday, August 24th. UBS Group dropped their price objective on shares of Deere & Company from $732.00 to $728.00 and set a “buy” rating on the stock in a research note on Friday, August 21st. Barclays increased their price objective on shares of Deere & Company from $640.00 to $675.00 and gave the company an “overweight” rating in a research note on Monday, August 24th. Bank of America boosted their price objective on shares of Deere & Company from $667.00 to $715.00 in a research note on Thursday, September 24th. Finally, Wall Street Zen lowered Deere & Company from a “hold” rating to a “sell” rating in a report on Saturday, August 22nd. Seventeen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $688.10.

Deere & Company News Summary

Here are the key news stories impacting Deere & Company this week:

• Positive Sentiment: ETF activity showed net interest in Deere: 36 ETFs added shares while 11 reduced holdings, and Capital Group Growth reported buying $87.4 million of Deere stock. ETF buying report Capital Group Growth report
• Neutral Sentiment: Deere added former Ernst & Young U.S. CEO Julie Boland to its board, bringing finance and governance experience. The related analysis said the shares were about 2% below its fair-value estimate, suggesting limited valuation cushion. Board and valuation analysis
• Negative Sentiment: Deere plans to end production at two Iowa plants and shift some work to other U.S. facilities and Brazil, while also moving production from Illinois and Louisiana. The company says the multiyear restructuring is intended to match capacity with demand; the closures and production shifts may nevertheless raise concerns about demand and the execution of the reorganization. Iowa plant closure report Production realignment report

Deere & Company Company Profile

Deere & Company, commonly known as John Deere, manufactures and distributes equipment and technology for agriculture, construction, forestry, and lawn care. Its products include tractors, combines, planting and spraying equipment, construction machinery, forestry equipment, and turf-care products, along with related parts and services. The company also provides precision agriculture technologies designed to help customers monitor and manage equipment and field operations. Through its Financial Services business, Deere offers financing and leasing options for equipment and related products.