Deere & Company (NYSE:DE) Shares Sold by Parkside Advisors LLC

Parkside Advisors LLC trimmed its position in Deere & Company (NYSE:DE) by 2.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,111 shares of the industrial products company’s stock after selling 26 shares during the quarter. Parkside Advisors LLC’s holdings in Deere & Company were worth $465,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in DE. Swedbank AB purchased a new position in shares of Deere & Company during the first quarter worth $191,628,000. Mawer Investment Management Ltd. purchased a new position in Deere & Company during the 2nd quarter valued at about $166,937,000. Dimensional Fund Advisors LP grew its position in Deere & Company by 15.0% in the 2nd 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. increased its stake in 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 worth $9,031,500,000 after purchasing an additional 263,709 shares during the period. Finally, Strategic Financial Concepts LLC lifted its position in shares of Deere & Company by 28,306.5% during the second quarter. Strategic Financial Concepts LLC now owns 249,977 shares of the industrial products company’s stock worth $934,000 after purchasing an additional 249,097 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analysts Forecast Growth

DE has been the subject of several recent research reports. Raymond James assumed coverage on Deere & Company in a research note on Friday, June 28th. They issued an “outperform” rating and a $420.00 price objective for the company. Truist Financial reiterated a “buy” rating and set a $443.00 price target (up previously from $439.00) on shares of Deere & Company in a report on Friday, August 16th. HSBC lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Bank of America boosted their target price on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research note on Friday, August 16th. Finally, Hsbc Global Res cut Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 19th. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $410.50.

Deere & Company Stock Performance

DE stock opened at $400.34 on Wednesday. The stock has a market cap of $110.32 billion, a P/E ratio of 12.05, a P/E/G ratio of 1.36 and a beta of 0.92. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.87 and a current ratio of 2.07. The firm has a 50 day simple moving average of $384.24 and a 200 day simple moving average of $385.16. Deere & Company has a 52 week low of $340.20 and a 52 week high of $420.47.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The firm 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 company earned $10.20 earnings per share. The company’s revenue was down 20.3% compared to the same quarter last year. Research analysts anticipate that Deere & Company will post 25.03 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The firm also recently disclosed 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 is Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.47%. Deere & Company’s dividend payout ratio is 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.