Barings LLC Reduces Stock Position in Deere & Company $DE

Barings LLC trimmed its stake in shares of Deere & Company (NYSE:DE) by 3.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,387 shares of the industrial products company’s stock after selling 233 shares during the period. Barings LLC’s holdings in Deere & Company were worth $3,756,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DE. Cynosure Group LLC grew its position in Deere & Company by 14.0% in the 2nd quarter. Cynosure Group LLC now owns 848 shares of the industrial products company’s stock worth $431,000 after purchasing an additional 104 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Deere & Company by 0.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,563,713 shares of the industrial products company’s stock worth $795,132,000 after buying an additional 14,665 shares during the last quarter. Soundwatch Capital LLC bought a new stake in shares of Deere & Company in the second quarter worth $41,000. Enterprise Financial Services Corp increased its position in Deere & Company by 0.9% during the second quarter. Enterprise Financial Services Corp now owns 2,949 shares of the industrial products company’s stock valued at $1,500,000 after acquiring an additional 26 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in Deere & Company by 26.2% in the second quarter. American Century Companies Inc. now owns 428,630 shares of the industrial products company’s stock valued at $217,954,000 after acquiring an additional 88,930 shares during the period. Institutional investors own 68.58% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on DE shares. UBS Group restated a “buy” rating on shares of Deere & Company in a research note on Tuesday, October 28th. Truist Financial lifted their price target on shares of Deere & Company from $602.00 to $609.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Wolfe Research cut their price objective on shares of Deere & Company from $550.00 to $520.00 and set an “outperform” rating for the company in a research report on Friday, October 3rd. JPMorgan Chase & Co. reduced their price objective on Deere & Company from $495.00 to $480.00 and set a “neutral” rating for the company in a research note on Tuesday, October 14th. Finally, Wells Fargo & Company assumed coverage on Deere & Company in a research report on Thursday, November 13th. They set an “overweight” rating and a $543.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $519.85.

Deere & Company Stock Performance

DE opened at $487.03 on Friday. The company has a 50 day simple moving average of $466.30 and a two-hundred day simple moving average of $490.92. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.19 and a quick ratio of 1.98. The firm has a market cap of $131.66 billion, a P/E ratio of 25.46, a PEG ratio of 3.05 and a beta of 1.04. Deere & Company has a 1-year low of $403.01 and a 1-year high of $533.78.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th were issued a dividend of $1.62 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.3%. Deere & Company’s dividend payout ratio (DPR) is currently 33.87%.

Deere & 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.