Deere & Company (NYSE:DE) is Birmingham Capital Management Co. Inc. AL’s 2nd Largest Position

Birmingham Capital Management Co. Inc. AL reduced its position in Deere & Company (NYSE:DE) by 3.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,888 shares of the industrial products company’s stock after selling 1,200 shares during the quarter. Deere & Company accounts for approximately 5.7% of Birmingham Capital Management Co. Inc. AL’s holdings, making the stock its 2nd biggest holding. Birmingham Capital Management Co. Inc. AL’s holdings in Deere & Company were worth $14,530,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in DE. Swedbank AB bought a new position in shares of Deere & Company in the first quarter worth about $191,628,000. Mawer Investment Management Ltd. bought a new stake in shares of Deere & Company during the second quarter valued at approximately $166,937,000. Dimensional Fund Advisors LP raised its stake in shares of 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 acquiring an additional 279,627 shares in the last quarter. Vanguard Group Inc. raised its stake 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 valued at $9,031,500,000 after acquiring an additional 263,709 shares in the last quarter. Finally, Strategic Financial Concepts LLC boosted its holdings in shares of Deere & Company by 28,306.5% in the second quarter. Strategic Financial Concepts LLC now owns 249,977 shares of the industrial products company’s stock valued at $934,000 after purchasing an additional 249,097 shares during the period. Institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Raymond James started coverage on Deere & Company in a research report on Friday, June 28th. They set an “outperform” rating and a $420.00 target price for the company. Evercore ISI upped their price objective 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. Hsbc Global Res lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Truist Financial reissued a “buy” rating and issued a $443.00 price objective (up previously from $439.00) on shares of Deere & Company in a research note on Friday, August 16th. Finally, Morgan Stanley reduced their price target on Deere & Company from $450.00 to $425.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Thirteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $410.50.

Deere & Company Stock Up 0.2 %

NYSE:DE opened at $417.33 on Tuesday. 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 has a twelve month low of $340.20 and a twelve month high of $419.63. The company has a market cap of $115.00 billion, a PE ratio of 12.56, a P/E/G ratio of 1.36 and a beta of 0.92. The company’s 50 day moving average is $380.26 and its two-hundred day moving average is $384.41.

Deere & Company (NYSE:DE) last posted 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 14.69% and a return on equity of 36.71%. The business had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. During the same period in the previous year, the firm posted $10.20 earnings per share. The business’s revenue for the quarter was down 20.3% compared to the same quarter last year. Analysts anticipate that Deere & Company will post 25.03 EPS for the current year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s dividend payout ratio is presently 17.70%.

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.