Everence Capital Management Inc. Sells 5,370 Shares of Deere & Company (NYSE:DE)

Everence Capital Management Inc. decreased its position in shares of Deere & Company (NYSE:DE) by 52.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 4,923 shares of the industrial products company’s stock after selling 5,370 shares during the period. Everence Capital Management Inc.’s holdings in Deere & Company were worth $2,055,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fairscale Capital LLC bought a new stake in shares of Deere & Company in the 2nd quarter worth $26,000. Pineridge Advisors LLC increased its holdings in Deere & Company by 725.0% in the 1st quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after buying an additional 58 shares in the last quarter. Olistico Wealth LLC bought a new stake in Deere & Company in the 2nd quarter worth about $37,000. Centennial Bank AR raised its position in Deere & Company by 420.0% in the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock worth $39,000 after buying an additional 84 shares during the last quarter. Finally, Financial Synergies Wealth Advisors Inc. lifted its stake in Deere & Company by 2,500.0% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 104 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 100 shares during the period. Institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Truist Financial lifted their price target on shares of Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Evercore ISI boosted their target price on shares of Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research note on Monday, August 19th. BMO Capital Markets initiated coverage on Deere & Company in a report on Friday, August 9th. They set a “market perform” rating and a $400.00 price target on the stock. Bank of America lifted their price objective on Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a report on Friday, August 16th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Deere & Company from $402.00 to $389.00 and set a “hold” rating on the stock in a report on Thursday, August 8th. Twelve equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $420.69.

Deere & Company Price Performance

NYSE:DE traded down $0.40 during trading hours on Monday, hitting $408.33. 307,123 shares of the stock traded hands, compared to its average volume of 1,464,875. The company has a market cap of $112.52 billion, a price-to-earnings ratio of 12.31, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92. Deere & Company has a 1 year low of $340.20 and a 1 year high of $420.47. The stock has a 50 day moving average price of $393.03 and a 200 day moving average price of $385.26. 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 earnings results 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. The company had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. Deere & Company’s revenue for the quarter was down 20.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $10.20 EPS. Sell-side analysts forecast that Deere & Company will post 25.03 EPS for the current fiscal year.

Deere & Company Announces Dividend

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 paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date is Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is 17.70%.

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.