Leuthold Group LLC Sells 86 Shares of Deere & Company (NYSE:DE)

Leuthold Group LLC lowered its position in Deere & Company (NYSE:DE) by 0.9% in the second quarter, HoldingsChannel.com reports. The fund owned 9,379 shares of the industrial products company’s stock after selling 86 shares during the quarter. Leuthold Group LLC’s holdings in Deere & Company were worth $3,504,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on DE. Truist Financial reiterated a “buy” rating and issued a $443.00 price target (up from $439.00) on shares of Deere & Company in a research report on Friday, August 16th. Deutsche Bank Aktiengesellschaft decreased their price target on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a research report on Thursday, August 8th. Raymond James initiated coverage on shares of Deere & Company in a research report on Friday, June 28th. They set an “outperform” rating and a $420.00 price objective for the company. Bank of America boosted their target price 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. Finally, HSBC lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Fourteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $409.88.

Deere & Company Price Performance

Deere & Company stock opened at $401.11 on Thursday. The firm has a market cap of $110.53 billion, a P/E ratio of 12.07, a P/E/G ratio of 1.29 and a beta of 0.92. The stock’s 50 day moving average is $374.47 and its 200 day moving average is $382.18. 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 one year low of $340.20 and a one year high of $417.46.

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, beating analysts’ consensus estimates of $5.63 by $0.66. The company had revenue of $11.39 billion for the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The company’s quarterly revenue was down 20.3% on a year-over-year basis. During the same period in the prior year, the firm posted $10.20 EPS. As a group, research analysts expect that Deere & Company will post 25.07 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 1.47%. Deere & Company’s dividend payout ratio is currently 17.70%.

Insider Buying and Selling at Deere & Company

In other news, insider Cory J. Reed sold 13,370 shares of the firm’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 sale, the insider now owns 41,642 shares of the company’s stock, valued at approximately $15,725,268.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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.