International Assets Investment Management LLC Sells 122 Shares of Deere & Company (NYSE:DE)

International Assets Investment Management LLC trimmed its holdings in Deere & Company (NYSE:DE) by 6.9% during the second quarter, Holdings Channel reports. The institutional investor owned 1,643 shares of the industrial products company’s stock after selling 122 shares during the quarter. International Assets Investment Management LLC’s holdings in Deere & Company were worth $614,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Deere & Company by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock worth $9,031,500,000 after purchasing an additional 263,709 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Deere & Company by 0.5% during 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 buying an additional 19,200 shares during the last quarter. Parnassus Investments LLC grew its holdings in Deere & Company by 22.4% during the fourth quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock worth $1,541,967,000 after buying an additional 705,771 shares in the last quarter. Norges Bank purchased a new stake in Deere & Company in the 4th quarter valued at $1,248,036,000. Finally, Dimensional Fund Advisors LP lifted its stake in Deere & Company by 11.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,595,945 shares of the industrial products company’s stock valued at $638,167,000 after acquiring an additional 160,369 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Deere & Company

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $377.63, for a total value of $5,048,913.10. Following the completion of the transaction, the insider now owns 41,642 shares in the company, valued at approximately $15,725,268.46. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.26% of the stock is currently owned by corporate insiders.

Deere & Company Price Performance

DE opened at $385.74 on Friday. The firm has a 50-day moving average price of $367.94 and a 200-day moving average price of $379.81. Deere & Company has a twelve month low of $340.20 and a twelve month high of $423.35. The company has a quick ratio of 1.80, a current ratio of 2.01 and a debt-to-equity ratio of 1.81. The company has a market capitalization of $106.30 billion, a price-to-earnings ratio of 11.61, a PEG ratio of 1.59 and a beta of 0.93.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping the consensus estimate of $5.63 by $0.66. Deere & Company had a net margin of 16.15% and a return on equity of 42.26%. The company had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. During the same period last year, the firm earned $10.20 EPS. Deere & Company’s revenue for the quarter was down 20.3% on a year-over-year basis. Equities analysts expect that Deere & Company will post 25.41 EPS for the current year.

Deere & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be paid a dividend of $1.47 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.52%. Deere & Company’s payout ratio is 17.70%.

Analysts Set New Price Targets

DE has been the subject of several recent analyst reports. Evercore ISI upped their target price on shares of Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research note on Monday, August 19th. Truist Financial reaffirmed a “buy” rating and issued a $443.00 price objective (up from $439.00) on shares of Deere & Company in a research report on Friday, August 16th. Morgan Stanley dropped their target price on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Citigroup reduced their target price on Deere & Company from $395.00 to $370.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. Finally, DA Davidson dropped their price target on Deere & Company from $483.00 to $465.00 and set a “buy” rating on the stock in a report on Monday, May 20th. Fourteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $414.11.

Deere & 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.