Earnest Partners LLC Sells 20,126 Shares of Deere & Company (NYSE:DE)

Earnest Partners LLC lowered its stake in Deere & Company (NYSE:DE) by 62.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 12,240 shares of the industrial products company’s stock after selling 20,126 shares during the quarter. Earnest Partners LLC’s holdings in Deere & Company were worth $5,027,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Pinnacle Associates Ltd. raised its holdings in shares of Deere & Company by 21.3% during the fourth quarter. Pinnacle Associates Ltd. now owns 5,355 shares of the industrial products company’s stock valued at $2,141,000 after acquiring an additional 939 shares in the last quarter. Harbor Investment Advisory LLC raised its holdings in shares of Deere & Company by 27.4% during the first quarter. Harbor Investment Advisory LLC now owns 1,730 shares of the industrial products company’s stock valued at $710,000 after acquiring an additional 372 shares in the last quarter. Summit Asset Management LLC raised its holdings in shares of Deere & Company by 24.1% during the fourth quarter. Summit Asset Management LLC now owns 1,030 shares of the industrial products company’s stock valued at $412,000 after acquiring an additional 200 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Deere & Company by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,570,773 shares of the industrial products company’s stock valued at $628,105,000 after acquiring an additional 31,074 shares in the last quarter. Finally, Brevan Howard Capital Management LP raised its holdings in shares of Deere & Company by 857.9% during the fourth quarter. Brevan Howard Capital Management LP now owns 7,654 shares of the industrial products company’s stock valued at $3,061,000 after acquiring an additional 6,855 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Insider Buying and Selling at Deere & Company

In other Deere & Company news, insider Cory J. Reed sold 13,370 shares of the stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $377.63, for a total value of $5,048,913.10. Following the transaction, the insider now owns 41,642 shares of the company’s stock, valued at $15,725,268.46. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is owned by corporate insiders.

Deere & Company Stock Performance

Shares of NYSE:DE traded down $9.73 during midday trading on Monday, reaching $376.82. 1,489,671 shares of the company’s stock traded hands, compared to its average volume of 1,501,366. The company has a market cap of $103.84 billion, a price-to-earnings ratio of 11.51, a P/E/G ratio of 1.57 and a beta of 0.93. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.80 and a current ratio of 2.01. Deere & Company has a one year low of $345.93 and a one year high of $441.46. The stock has a 50 day moving average of $372.59 and a 200 day moving average of $383.63.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, May 16th. The industrial products company reported $8.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.86 by $0.67. The firm had revenue of $13.61 billion for the quarter, compared to the consensus estimate of $13.29 billion. Deere & Company had a return on equity of 42.26% and a net margin of 16.15%. The company’s quarterly revenue was down 15.4% on a year-over-year basis. During the same period in the prior year, the company posted $9.65 earnings per share. As a group, equities research analysts anticipate that Deere & Company will post 25.41 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Friday, June 28th will be issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date is Friday, June 28th. Deere & Company’s dividend payout ratio is 17.70%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on DE. DA Davidson decreased their target price on Deere & Company from $483.00 to $465.00 and set a “buy” rating for the company in a report on Monday, May 20th. Citigroup initiated coverage on Deere & Company in a research note on Wednesday, June 26th. They issued a “neutral” rating and a $395.00 price target on the stock. TD Cowen upped their price target on Deere & Company from $383.00 to $390.00 and gave the stock a “hold” rating in a research note on Friday, May 17th. Truist Financial reduced their price target on Deere & Company from $460.00 to $439.00 and set a “buy” rating on the stock in a research note on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. reduced their price target on Deere & Company from $385.00 to $375.00 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Deere & Company presently has a consensus rating of “Hold” and an average price target of $426.71.

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.