Toronto Dominion Bank Decreases Stock Position in Deere & Company (NYSE:DE)

Toronto Dominion Bank decreased its position in shares of Deere & Company (NYSE:DE) by 50.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 85,661 shares of the industrial products company’s stock after selling 87,535 shares during the period. Toronto Dominion Bank’s holdings in Deere & Company were worth $32,006,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. raised its stake in Deere & Company by 20.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock valued at $5,906,000 after purchasing an additional 2,692 shares in the last quarter. Harbor Investment Advisory LLC raised its position in shares of Deere & Company by 27.4% during the 1st quarter. Harbor Investment Advisory LLC now owns 1,730 shares of the industrial products company’s stock valued at $710,000 after buying an additional 372 shares in the last quarter. Brevan Howard Capital Management LP lifted its holdings in shares of Deere & Company by 857.9% in the 4th quarter. Brevan Howard Capital Management LP now owns 7,654 shares of the industrial products company’s stock valued at $3,061,000 after acquiring an additional 6,855 shares during the last quarter. Aviance Capital Partners LLC purchased a new position in Deere & Company in the first quarter worth about $2,783,000. Finally, Oxford Financial Group LTD. LLC increased its stake in Deere & Company by 2.9% during the fourth quarter. Oxford Financial Group LTD. LLC now owns 1,827 shares of the industrial products company’s stock worth $731,000 after acquiring an additional 51 shares during the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on DE. Citigroup lowered their price objective on Deere & Company from $395.00 to $370.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. Morgan Stanley lowered 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. Truist Financial reiterated a “buy” rating and set a $443.00 price objective (up previously from $439.00) on shares of Deere & Company in a research report on Friday, August 16th. BMO Capital Markets started coverage on shares of Deere & Company in a report on Friday, August 9th. They issued a “market perform” rating and a $400.00 target price for the company. Finally, Evercore ISI upped their price target on shares of Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a report on Monday, August 19th. Thirteen analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Deere & Company currently has a consensus rating of “Hold” and an average price target of $410.50.

Deere & Company Trading Down 1.0 %

Shares of NYSE DE opened at $406.93 on Thursday. Deere & Company has a twelve month low of $340.20 and a twelve month high of $417.46. The firm has a market cap of $112.14 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 1.36 and a beta of 0.92. The business has a fifty day simple moving average of $377.65 and a two-hundred day simple moving average of $383.38. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, beating the consensus estimate of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The firm 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 company posted $10.20 earnings per share. The firm’s quarterly revenue was down 20.3% on a year-over-year basis. Analysts expect that Deere & Company will post 25.03 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be given a $1.47 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.44%. Deere & Company’s 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.