Amalgamated Bank Lowers Stock Holdings in Deere & Company (NYSE:DE)

Amalgamated Bank reduced its position in Deere & Company (NYSE:DE) by 3.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 50,593 shares of the industrial products company’s stock after selling 1,555 shares during the period. Amalgamated Bank’s holdings in Deere & Company were worth $21,114,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Fairscale Capital LLC acquired a new position in Deere & Company in the 2nd quarter worth $26,000. Pineridge Advisors LLC lifted its holdings in Deere & Company by 725.0% in the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 58 shares during the last quarter. Livelsberger Financial Advisory acquired a new stake in shares of Deere & Company in the third quarter valued at approximately $32,000. Olistico Wealth LLC acquired a new stake in shares of Deere & Company in the second quarter valued at approximately $37,000. Finally, Centennial Bank AR increased its stake in shares of Deere & Company by 420.0% during the second quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 84 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Deere & Company Price Performance

Shares of DE stock opened at $401.68 on Tuesday. The stock’s 50-day moving average is $401.23 and its 200 day moving average is $385.41. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87. Deere & Company has a 1-year low of $340.20 and a 1-year high of $420.47. The company has a market cap of $109.90 billion, a P/E ratio of 13.70, a PEG ratio of 1.52 and a beta of 0.93.

Deere & Company (NYSE:DE) last announced its quarterly 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. The company had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. Deere & Company’s revenue for the quarter was down 20.3% on a year-over-year basis. During the same period in the previous year, the company posted $10.20 earnings per share. Research analysts predict that Deere & Company will post 25 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Monday, September 30th. Deere & Company’s payout ratio is 20.06%.

About Deere & Company

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.