Montag A & Associates Inc. Sells 5,004 Shares of Deere & Company (NYSE:DE)

Montag A & Associates Inc. reduced its stake in Deere & Company (NYSE:DE) by 52.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,615 shares of the industrial products company’s stock after selling 5,004 shares during the quarter. Montag A & Associates Inc.’s holdings in Deere & Company were worth $1,731,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. International Assets Investment Management LLC lifted its position in Deere & Company by 15.9% in the 4th quarter. International Assets Investment Management LLC now owns 2,102 shares of the industrial products company’s stock worth $841,000 after buying an additional 288 shares during the last quarter. Gilbert & Cook Inc. grew its holdings in shares of Deere & Company by 5.4% during the 4th quarter. Gilbert & Cook Inc. now owns 1,978 shares of the industrial products company’s stock valued at $791,000 after purchasing an additional 102 shares during the last quarter. 9258 Wealth Management LLC lifted its stake in Deere & Company by 9.8% in the fourth quarter. 9258 Wealth Management LLC now owns 1,975 shares of the industrial products company’s stock worth $790,000 after purchasing an additional 176 shares during the last quarter. Axxcess Wealth Management LLC boosted its position in Deere & Company by 70.1% during the fourth quarter. Axxcess Wealth Management LLC now owns 7,386 shares of the industrial products company’s stock valued at $2,954,000 after buying an additional 3,043 shares during the period. Finally, TCG Advisory Services LLC bought a new position in shares of Deere & Company during the fourth quarter valued at about $512,000. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Price Performance

Shares of NYSE DE opened at $385.74 on Monday. The company has a 50 day simple moving average of $367.94 and a two-hundred day simple moving average of $379.78. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $423.35. The company has a market capitalization of $106.30 billion, a price-to-earnings ratio of 11.61, a P/E/G ratio of 1.28 and a beta of 0.93. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07.

Deere & Company (NYSE:DE) last posted its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The company had revenue of $11.39 billion during the quarter, compared to analyst estimates of $10.94 billion. During the same quarter last year, the company earned $10.20 EPS. The firm’s revenue for the quarter was down 20.3% on a year-over-year basis. Analysts expect that Deere & Company will post 25.09 EPS for the current fiscal year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be issued a $1.47 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 annualized dividend and a yield of 1.52%. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Insider Buying and Selling

In other news, insider Cory J. Reed sold 13,370 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the completion of the transaction, the insider now directly owns 41,642 shares of the company’s stock, valued at $15,725,268.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on DE. Morgan Stanley dropped their target price on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Daiwa Capital Markets lifted their target price on shares of Deere & Company from $400.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 15th. Truist Financial reissued a “buy” rating and set a $443.00 price target (up previously from $439.00) on shares of Deere & Company in a research report on Friday, August 16th. Stifel Nicolaus boosted their price target on Deere & Company from $425.00 to $450.00 and gave the company a “buy” rating in a report on Friday, May 17th. Finally, BMO Capital Markets initiated coverage on Deere & Company in a report on Friday, August 9th. They set a “market perform” rating and a $400.00 target price for the company. Fourteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price 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.