Deere & Company (NYSE:DE) is Oakview Capital Management L.P.’s Largest Position

Oakview Capital Management L.P. cut its stake in Deere & Company (NYSE:DE) by 59.8% during the second quarter, HoldingsChannel reports. The institutional investor owned 10,725 shares of the industrial products company’s stock after selling 15,929 shares during the quarter. Deere & Company comprises approximately 12.6% of Oakview Capital Management L.P.’s portfolio, making the stock its biggest holding. Oakview Capital Management L.P.’s holdings in Deere & Company were worth $4,007,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. grew its holdings in shares of 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 worth $5,906,000 after buying an additional 2,692 shares in the last quarter. Harbor Investment Advisory LLC grew its stake in 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 acquiring an additional 372 shares in the last quarter. Brevan Howard Capital Management LP grew its stake in Deere & Company by 857.9% during 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 in the last quarter. Aviance Capital Partners LLC acquired a new stake in Deere & Company in the 1st quarter valued at about $2,783,000. Finally, Oxford Financial Group LTD. LLC lifted its stake in Deere & Company by 2.9% in the 4th quarter. Oxford Financial Group LTD. LLC now owns 1,827 shares of the industrial products company’s stock worth $731,000 after purchasing an additional 51 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Stock Up 1.6 %

Shares of NYSE DE opened at $418.06 on Friday. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The business’s 50 day moving average is $379.51 and its two-hundred day moving average is $384.04. Deere & Company has a 52-week low of $340.20 and a 52-week high of $419.63. The firm has a market cap of $115.20 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 1.36 and a beta of 0.92.

Deere & Company (NYSE:DE) last issued 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 business had revenue of $11.39 billion during the quarter, compared to analysts’ expectations of $10.94 billion. During the same period in the previous year, the firm posted $10.20 earnings per share. The company’s revenue was down 20.3% on a year-over-year basis. Research analysts predict that Deere & Company will post 25.03 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be paid a dividend of $1.47 per share. The ex-dividend date is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.41%. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on DE shares. Deutsche Bank Aktiengesellschaft dropped their price target on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. Raymond James began coverage on Deere & Company in a report on Friday, June 28th. They issued an “outperform” rating and a $420.00 target price for the company. JPMorgan Chase & Co. reduced their price target on Deere & Company from $375.00 to $360.00 and set a “neutral” rating on the stock in a report on Tuesday, August 13th. Hsbc Global Res cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Finally, Truist Financial reiterated a “buy” rating and issued a $443.00 target price (up from $439.00) on shares of Deere & Company in a report on Friday, August 16th. Thirteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $410.50.

Deere & Company 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.