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

Amalgamated Bank decreased its stake in Deere & Company (NYSE:DE) by 6.8% during the second quarter, Holdings Channel reports. The institutional investor owned 52,148 shares of the industrial products company’s stock after selling 3,802 shares during the quarter. Amalgamated Bank’s holdings in Deere & Company were worth $19,484,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position 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 in the last quarter. Janus Henderson Group PLC boosted its position in Deere & Company by 0.5% during the first quarter. Janus Henderson Group PLC now owns 3,859,021 shares of the industrial products company’s stock worth $1,585,028,000 after purchasing an additional 19,200 shares in the last quarter. Parnassus Investments LLC boosted its position in Deere & Company by 22.4% during the fourth quarter. Parnassus Investments LLC now owns 3,856,171 shares of the industrial products company’s stock worth $1,541,967,000 after purchasing an additional 705,771 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Deere & Company by 15.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,146,441 shares of the industrial products company’s stock worth $802,037,000 after purchasing an additional 279,627 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its position in Deere & Company by 11.3% during the fourth quarter. Fisher Asset Management LLC now owns 1,481,458 shares of the industrial products company’s stock worth $592,391,000 after purchasing an additional 150,713 shares in the last quarter. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on DE. 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 research report on Friday, August 16th. Morgan Stanley lowered their price target on Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Evercore ISI increased their price target on Deere & Company from $371.00 to $378.00 and gave the stock an “in-line” rating in a research report on Monday, August 19th. Hsbc Global Res cut Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Finally, 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 for the company. Fourteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $409.88.

Insider Transactions at Deere & Company

In other news, insider Cory J. Reed sold 13,370 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $377.63, for a total transaction of $5,048,913.10. Following the completion of the transaction, the insider now directly owns 41,642 shares in the company, valued at $15,725,268.46. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.26% of the company’s stock.

Deere & Company Trading Up 0.8 %

Shares of Deere & Company stock opened at $397.91 on Wednesday. The firm has a market capitalization of $109.65 billion, a price-to-earnings ratio of 11.98, a PEG ratio of 1.29 and a beta of 0.92. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $417.46. 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 stock has a 50 day moving average of $373.48 and a 200 day moving average of $382.05.

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, topping the consensus estimate of $5.63 by $0.66. The company had revenue of $11.39 billion during the quarter, compared to analyst estimates of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The firm’s revenue for the quarter was down 20.3% compared to the same quarter last year. During the same period in the prior year, the business posted $10.20 earnings per share. As a group, research analysts predict that Deere & Company will post 25.07 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be given a dividend of $1.47 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 annualized dividend and a dividend yield of 1.48%. Deere & Company’s dividend payout ratio is currently 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.