Clarius Group LLC Reduces Holdings in Deere & Company (NYSE:DE)

Clarius Group LLC cut its position in shares of Deere & Company (NYSE:DE) by 6.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,512 shares of the industrial products company’s stock after selling 104 shares during the quarter. Clarius Group LLC’s holdings in Deere & Company were worth $618,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Deere & Company by 1.2% during the first quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock worth $9,031,500,000 after buying an additional 263,709 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Deere & Company by 0.5% in the first quarter. Janus Henderson Group PLC now owns 3,859,021 shares of the industrial products company’s stock valued at $1,585,028,000 after purchasing an additional 19,200 shares during the period. Legal & General Group Plc grew its holdings in Deere & Company by 2.7% in the second quarter. Legal & General Group Plc now owns 2,254,266 shares of the industrial products company’s stock valued at $842,259,000 after purchasing an additional 60,255 shares during the period. Dimensional Fund Advisors LP lifted its position in Deere & Company by 15.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock valued at $802,037,000 after buying an additional 279,627 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its position in Deere & Company by 11.3% during the fourth quarter. Fisher Asset Management LLC now owns 1,481,458 shares of the industrial products company’s stock valued at $592,391,000 after buying an additional 150,713 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

A number of research analysts have weighed in on DE shares. BMO Capital Markets started coverage on shares of Deere & Company in a research report on Friday, August 9th. They set a “market perform” rating and a $400.00 price target on the stock. Bank of America lifted their price target 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. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Hsbc Global Res cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Finally, Truist Financial boosted their target price on shares of Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research report on Wednesday. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $420.69.

Deere & Company Stock Up 1.3 %

DE stock opened at $411.11 on Friday. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87. Deere & Company has a 1-year low of $340.20 and a 1-year high of $420.47. The firm has a fifty day moving average price of $387.01 and a two-hundred day moving average price of $385.53. The firm has a market cap of $113.29 billion, a price-to-earnings ratio of 12.38, a PEG ratio of 1.35 and a beta of 0.92.

Deere & Company (NYSE:DE) last released its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, beating the consensus estimate of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The firm had revenue of $11.39 billion during the quarter, compared to analyst estimates of $10.94 billion. During the same quarter in the previous year, the firm earned $10.20 earnings per share. The firm’s revenue for the quarter was down 20.3% compared to the same quarter last year. Research analysts predict that Deere & Company will post 25.03 EPS for the current year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be given a dividend of $1.47 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.43%. Deere & Company’s dividend payout ratio is currently 17.70%.

About Deere & Company

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.