First Eagle Investment Management LLC Has $196.87 Million Stock Position in Deere & Company (NYSE:DE)

First Eagle Investment Management LLC cut its holdings in Deere & Company (NYSE:DE) by 0.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 526,921 shares of the industrial products company’s stock after selling 2,053 shares during the quarter. First Eagle Investment Management LLC’s holdings in Deere & Company were worth $196,873,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tompkins Financial Corp boosted its stake in Deere & Company by 2.6% during the first quarter. Tompkins Financial Corp now owns 981 shares of the industrial products company’s stock worth $403,000 after acquiring an additional 25 shares in the last quarter. Field & Main Bank grew its stake in shares of Deere & Company by 0.7% in the 1st quarter. Field & Main Bank now owns 4,050 shares of the industrial products company’s stock valued at $1,663,000 after buying an additional 27 shares during the period. Range Financial Group LLC grew its stake in shares of Deere & Company by 5.2% in the 1st quarter. Range Financial Group LLC now owns 548 shares of the industrial products company’s stock valued at $225,000 after buying an additional 27 shares during the period. Cooper Financial Group increased its position in Deere & Company by 2.4% in the 1st quarter. Cooper Financial Group now owns 1,146 shares of the industrial products company’s stock valued at $471,000 after buying an additional 27 shares in the last quarter. Finally, First Foundation Advisors raised its stake in Deere & Company by 2.3% during the 1st quarter. First Foundation Advisors now owns 1,249 shares of the industrial products company’s stock worth $513,000 after buying an additional 28 shares during the period. 68.58% of the stock is currently owned by institutional investors.

Deere & Company Stock Performance

Shares of DE opened at $401.11 on Thursday. The stock has a 50 day moving average of $374.47 and a 200 day moving average of $382.18. The company has a market capitalization of $110.53 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 1.29 and a beta of 0.92. Deere & Company has a 12 month low of $340.20 and a 12 month high of $417.46. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.63 by $0.66. The firm had revenue of $11.39 billion during the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The business’s revenue was down 20.3% compared to the same quarter last year. During the same period last year, the firm posted $10.20 EPS. As a group, sell-side analysts forecast that Deere & Company will post 25.07 earnings per share for the current year.

Deere & Company Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Deutsche Bank Aktiengesellschaft reduced their price objective on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. 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. Raymond James initiated coverage on shares of Deere & Company in a report on Friday, June 28th. They set an “outperform” rating and a $420.00 price objective on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Deere & Company from $375.00 to $360.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. Finally, Truist Financial restated a “buy” rating and issued a $443.00 target price (up previously from $439.00) on shares of Deere & Company in a report on Friday, August 16th. Fourteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $409.88.

Insider Buying and Selling at Deere & Company

In other news, insider Cory J. Reed sold 13,370 shares of the 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 approximately $15,725,268.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

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.