Intech Investment Management LLC Sells 5,781 Shares of Deere & Company (NYSE:DE)

Intech Investment Management LLC trimmed its position in Deere & Company (NYSE:DE) by 26.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,171 shares of the industrial products company’s stock after selling 5,781 shares during the period. Intech Investment Management LLC’s holdings in Deere & Company were worth $6,749,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of DE. Fairscale Capital LLC bought a new position in Deere & Company in the 2nd quarter valued at $26,000. Pineridge Advisors LLC boosted its holdings in Deere & Company by 725.0% in the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 58 shares during the period. Livelsberger Financial Advisory purchased a new stake in shares of Deere & Company during the 3rd quarter valued at $32,000. Olistico Wealth LLC purchased a new stake in shares of Deere & Company during the 2nd quarter valued at $37,000. Finally, Centennial Bank AR raised its position in shares of Deere & Company by 420.0% during the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after buying an additional 84 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on DE shares. Citigroup raised their price objective on shares of Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. raised their price objective on shares of Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a research report on Friday, October 11th. Truist Financial raised their price objective on shares of Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Bank of America raised their price objective on shares of 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 shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Deere & Company has a consensus rating of “Hold” and a consensus price target of $420.69.

Deere & Company Price Performance

DE stock opened at $436.28 on Friday. The firm’s 50-day moving average price is $405.95 and its two-hundred day moving average price is $386.18. Deere & Company has a 12-month low of $340.20 and a 12-month high of $442.05. The stock has a market capitalization of $119.37 billion, a price-to-earnings ratio of 14.89, a PEG ratio of 1.54 and a beta of 0.93. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, November 21st. The industrial products company reported $4.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.90 by $0.65. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The firm had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.20 billion. During the same quarter in the previous year, the company earned $8.26 earnings per share. The company’s revenue for the quarter was down 32.8% compared to the same quarter last year. As a group, equities analysts predict that Deere & Company will post 25 earnings per share for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Monday, September 30th were given a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date was Monday, September 30th. Deere & Company’s payout ratio is 20.06%.

Deere & Company Company Profile

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.