Dnca Finance Cuts Stock Position in Deere & Company $DE

Dnca Finance cut its holdings in shares of Deere & Company (NYSE:DE) by 27.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 46,980 shares of the industrial products company’s stock after selling 17,370 shares during the quarter. Deere & Company accounts for 1.8% of Dnca Finance’s investment portfolio, making the stock its 16th largest position. Dnca Finance’s holdings in Deere & Company were worth $23,889,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in DE. Vanguard Group Inc. lifted its position in Deere & Company by 1.4% in the second quarter. Vanguard Group Inc. now owns 22,372,671 shares of the industrial products company’s stock valued at $11,376,279,000 after acquiring an additional 309,081 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Deere & Company by 4.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,876,013 shares of the industrial products company’s stock valued at $3,227,258,000 after buying an additional 286,253 shares during the last quarter. Geode Capital Management LLC raised its position in Deere & Company by 2.1% in the second quarter. Geode Capital Management LLC now owns 5,541,778 shares of the industrial products company’s stock worth $2,810,807,000 after acquiring an additional 111,627 shares in the last quarter. Norges Bank acquired a new stake in shares of Deere & Company in the second quarter valued at about $1,578,243,000. Finally, Fisher Asset Management LLC boosted its stake in shares of Deere & Company by 10.1% during the 2nd quarter. Fisher Asset Management LLC now owns 2,580,228 shares of the industrial products company’s stock worth $1,312,020,000 after acquiring an additional 236,406 shares in the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Oppenheimer lifted their target price on shares of Deere & Company from $512.00 to $531.00 and gave the stock an “outperform” rating in a research note on Friday, November 28th. Zacks Research upgraded shares of Deere & Company from a “strong sell” rating to a “hold” rating in a research note on Wednesday. Truist Financial increased their price target on Deere & Company from $609.00 to $612.00 and gave the company a “buy” rating in a report on Friday, November 28th. Royal Bank Of Canada cut their target price on shares of Deere & Company from $542.00 to $541.00 and set an “outperform” rating on the stock in a research note on Friday, November 28th. Finally, Robert W. Baird dropped their target price on shares of Deere & Company from $488.00 to $467.00 and set a “neutral” rating on the stock in a report on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $518.95.

Insider Buying and Selling at Deere & Company

In other news, CEO John C. May II sold 11,106 shares of the stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $500.08, for a total value of $5,553,888.48. Following the completion of the sale, the chief executive officer directly owned 112,453 shares of the company’s stock, valued at approximately $56,235,496.24. This represents a 8.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Deere & Company Price Performance

Shares of NYSE:DE opened at $475.13 on Friday. The company’s fifty day moving average is $467.81 and its two-hundred day moving average is $488.96. The company has a market cap of $128.44 billion, a P/E ratio of 25.67, a price-to-earnings-growth ratio of 1.75 and a beta of 1.00. The company has a quick ratio of 2.01, a current ratio of 2.22 and a debt-to-equity ratio of 1.68. Deere & Company has a 12-month low of $403.01 and a 12-month high of $533.78.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Wednesday, November 26th. The industrial products company reported $3.93 earnings per share for the quarter, missing analysts’ consensus estimates of $3.96 by ($0.03). Deere & Company had a return on equity of 20.54% and a net margin of 11.00%.The company had revenue of $12.39 billion during the quarter, compared to analyst estimates of $9.77 billion. During the same period last year, the company posted $4.55 earnings per share. The company’s revenue was up 14.1% compared to the same quarter last year. Equities analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 9th. Investors of record on Wednesday, December 31st will be issued a $1.62 dividend. This represents a $6.48 annualized dividend and a yield of 1.4%. The ex-dividend date is Wednesday, December 31st. Deere & Company’s dividend payout ratio (DPR) is 35.01%.

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.