Simmons Bank Lowers Holdings in Deere & Company $DE

Simmons Bank cut its position in Deere & Company (NYSE:DE) by 0.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,891 shares of the industrial products company’s stock after selling 162 shares during the quarter. Simmons Bank’s holdings in Deere & Company were worth $10,623,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. Southland Equity Partners LLC lifted its stake in Deere & Company by 3.9% in the 2nd quarter. Southland Equity Partners LLC now owns 534 shares of the industrial products company’s stock worth $271,000 after purchasing an additional 20 shares in the last quarter. Vivid Wealth Management LLC lifted its stake in Deere & Company by 1.9% in the 2nd quarter. Vivid Wealth Management LLC now owns 1,088 shares of the industrial products company’s stock worth $553,000 after purchasing an additional 20 shares in the last quarter. Werba Rubin Papier Wealth Management lifted its stake in Deere & Company by 3.0% in the 2nd quarter. Werba Rubin Papier Wealth Management now owns 676 shares of the industrial products company’s stock worth $344,000 after purchasing an additional 20 shares in the last quarter. Prairie Wealth Advisors Inc. raised its position in shares of Deere & Company by 2.1% during the 2nd quarter. Prairie Wealth Advisors Inc. now owns 964 shares of the industrial products company’s stock valued at $492,000 after buying an additional 20 shares in the last quarter. Finally, Chicago Partners Investment Group LLC raised its position in shares of Deere & Company by 1.2% during the 1st quarter. Chicago Partners Investment Group LLC now owns 1,803 shares of the industrial products company’s stock valued at $852,000 after buying an additional 21 shares in the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Wolfe Research lowered their price objective on shares of Deere & Company from $550.00 to $520.00 and set an “outperform” rating on the stock in a research report on Friday, October 3rd. Wall Street Zen upgraded shares of Deere & Company from a “sell” rating to a “hold” rating in a research report on Saturday, October 4th. Jefferies Financial Group lowered their price objective on shares of Deere & Company from $510.00 to $440.00 and set a “hold” rating on the stock in a research report on Wednesday, October 8th. Robert W. Baird lowered their price objective on shares of Deere & Company from $488.00 to $467.00 and set a “neutral” rating on the stock in a research report on Monday, October 13th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Deere & Company from $495.00 to $480.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Deere & Company currently has a consensus rating of “Moderate Buy” and an average target price of $518.72.

Deere & Company Price Performance

Shares of NYSE:DE opened at $468.36 on Wednesday. The stock has a market cap of $126.61 billion, a PE ratio of 24.48, a PEG ratio of 3.05 and a beta of 1.04. The company’s fifty day moving average is $466.80 and its 200 day moving average is $490.13. Deere & Company has a 52 week low of $387.03 and a 52 week high of $533.78. The company has a quick ratio of 1.98, a current ratio of 2.19 and a debt-to-equity ratio of 1.76.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, August 14th. The industrial products company reported $4.75 EPS for the quarter, topping analysts’ consensus estimates of $4.62 by $0.13. The company had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.33 billion. Deere & Company had a net margin of 11.72% and a return on equity of 21.97%. The firm’s revenue was down 9.0% compared to the same quarter last year. During the same quarter last year, the company earned $6.29 EPS. Research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Deere & Company’s dividend payout ratio (DPR) is presently 33.87%.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.