Deere & Company (NYSE:DE) Shares Sold by Kaydan Wealth Management Inc.

Kaydan Wealth Management Inc. trimmed its stake in Deere & Company (NYSE:DE) by 3.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 812 shares of the industrial products company’s stock after selling 25 shares during the quarter. Kaydan Wealth Management Inc.’s holdings in Deere & Company were worth $339,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in DE. Swedbank AB purchased a new stake in Deere & Company in the 1st quarter worth approximately $191,628,000. Mawer Investment Management Ltd. acquired a new stake in Deere & Company in the 2nd quarter worth about $166,937,000. Dimensional Fund Advisors LP increased its stake in shares of Deere & Company by 15.0% during 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 during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Deere & Company by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 21,988,363 shares of the industrial products company’s stock worth $9,031,500,000 after acquiring an additional 263,709 shares during the period. Finally, Strategic Financial Concepts LLC boosted its position 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 worth $934,000 after acquiring an additional 249,097 shares during the last quarter. 68.58% of the stock is currently owned by hedge funds and other institutional investors.

Deere & Company Stock Up 1.8 %

Shares of Deere & Company stock opened at $409.42 on Thursday. 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 has a 12-month low of $340.20 and a 12-month high of $420.47. The firm has a market capitalization of $112.82 billion, a PE ratio of 12.32, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92. The stock’s fifty day moving average is $390.66 and its 200-day moving average is $385.36.

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 analysts’ consensus estimates of $5.63 by $0.66. The firm had revenue of $11.39 billion during 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 revenue was down 20.3% on a year-over-year basis. During the same quarter last year, the business posted $10.20 EPS. Equities analysts anticipate that Deere & Company will post 25.03 earnings per share for the current year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be paid a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Monday, September 30th. Deere & Company’s payout ratio is presently 17.70%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on DE shares. Oppenheimer decreased their target price on Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. Truist Financial boosted their price objective on Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. BMO Capital Markets started coverage on Deere & Company in a report on Friday, August 9th. They set a “market perform” rating and a $400.00 target price on the stock. Finally, Citigroup boosted their price target on Deere & Company from $395.00 to $420.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $420.69.

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.