Associated Banc Corp Sells 152 Shares of Deere & Company (NYSE:DE)

Associated Banc Corp decreased its stake in Deere & Company (NYSE:DE) by 10.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,336 shares of the industrial products company’s stock after selling 152 shares during the period. Associated Banc Corp’s holdings in Deere & Company were worth $558,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of DE. Silvercrest Asset Management Group LLC raised its stake in shares of Deere & Company by 4.6% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 24,060 shares of the industrial products company’s stock worth $9,882,000 after purchasing an additional 1,059 shares in the last quarter. Waverly Advisors LLC lifted its stake in Deere & Company by 107.1% in the first quarter. Waverly Advisors LLC now owns 5,020 shares of the industrial products company’s stock valued at $2,062,000 after acquiring an additional 2,596 shares during the last quarter. Bayesian Capital Management LP bought a new position in shares of Deere & Company in the 1st quarter valued at about $904,000. Dynasty Wealth Management LLC acquired a new position in shares of Deere & Company during the 1st quarter worth about $588,000. Finally, Tidal Investments LLC increased its stake in shares of Deere & Company by 2.3% during the 1st quarter. Tidal Investments LLC now owns 29,541 shares of the industrial products company’s stock worth $12,134,000 after purchasing an additional 677 shares during the last quarter. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Price Performance

Deere & Company stock opened at $462.81 on Tuesday. The firm has a market cap of $126.62 billion, a PE ratio of 18.08, a price-to-earnings-growth ratio of 1.75 and a beta of 0.93. The company has a debt-to-equity ratio of 1.89, a current ratio of 2.09 and a quick ratio of 1.90. The stock’s fifty day moving average price is $408.35 and its two-hundred day moving average price is $386.60. Deere & Company has a one year low of $340.20 and a one year high of $469.39.

Deere & Company (NYSE:DE) last issued its quarterly earnings results on Thursday, November 21st. The industrial products company reported $4.55 EPS for the quarter, topping analysts’ consensus estimates of $3.90 by $0.65. The company had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.20 billion. Deere & Company had a return on equity of 31.32% and a net margin of 13.73%. Deere & Company’s revenue was down 32.8% on a year-over-year basis. During the same quarter last year, the business earned $8.26 earnings per share. As a group, research analysts expect that Deere & Company will post 21.31 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Monday, September 30th were given a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend was Monday, September 30th. Deere & Company’s payout ratio is presently 22.97%.

Wall Street Analyst Weigh In

A number of research firms recently commented on DE. Oppenheimer lifted their price target on Deere & Company from $448.00 to $477.00 and gave the stock an “outperform” rating in a report on Friday. Truist Financial lifted their target price on Deere & Company from $496.00 to $538.00 and gave the stock a “buy” rating in a research note on Friday. JPMorgan Chase & Co. increased their price target on Deere & Company from $420.00 to $450.00 and gave the company a “neutral” rating in a research note on Friday. Barclays lifted their price objective on shares of Deere & Company from $400.00 to $475.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, HSBC lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Thirteen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $433.00.

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.