Foresight Group Ltd Liability Partnership Lowers Holdings in Deere & Company (NYSE:DE)

Foresight Group Ltd Liability Partnership decreased its holdings in Deere & Company (NYSE:DE) by 18.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,981 shares of the industrial products company’s stock after selling 437 shares during the quarter. Deere & Company accounts for about 0.3% of Foresight Group Ltd Liability Partnership’s holdings, making the stock its 26th biggest holding. Foresight Group Ltd Liability Partnership’s holdings in Deere & Company were worth $827,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in DE. Oppenheimer Asset Management Inc. lifted its stake in Deere & Company by 20.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock worth $5,906,000 after acquiring an additional 2,692 shares during the last quarter. Aviance Capital Partners LLC purchased a new position in Deere & Company in the first quarter worth approximately $2,783,000. Royal Fund Management LLC lifted its stake in Deere & Company by 99.8% in the third quarter. Royal Fund Management LLC now owns 6,454 shares of the industrial products company’s stock worth $2,694,000 after acquiring an additional 3,223 shares during the last quarter. New Century Financial Group LLC purchased a new position in Deere & Company in the third quarter worth approximately $1,052,000. Finally, Manning & Napier Advisors LLC purchased a new stake in shares of Deere & Company during the 2nd quarter worth approximately $24,984,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on DE. JPMorgan Chase & Co. upped their target price on shares of Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a report on Friday, October 11th. Hsbc Global Res cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. BMO Capital Markets assumed coverage on shares of Deere & Company in a report on Friday, August 9th. They issued a “market perform” rating and a $400.00 target price for the company. Evercore ISI upped their price target on shares of Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a research report on Monday, August 19th. Finally, Truist Financial upped their price target on shares of Deere & Company from $443.00 to $496.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $420.69.

Deere & Company Price Performance

Shares of NYSE DE opened at $406.65 on Wednesday. The stock has a market cap of $112.06 billion, a price-to-earnings ratio of 12.24, a PEG ratio of 1.35 and a beta of 0.92. Deere & Company has a 52 week low of $340.20 and a 52 week high of $420.47. The company’s 50-day moving average price is $395.40 and its 200 day moving average price is $385.21. The company has a current ratio of 2.07, a quick ratio of 1.87 and a debt-to-equity ratio of 1.85.

Deere & Company (NYSE:DE) last issued its quarterly earnings data on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. The firm 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%. The firm’s revenue was down 20.3% on a year-over-year basis. During the same period in the prior year, the company earned $10.20 EPS. As a group, research analysts forecast that Deere & Company will post 25.03 earnings per share 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. Investors of record on Monday, September 30th will be paid a $1.47 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 dividend on an annualized basis and a yield of 1.45%. Deere & Company’s payout ratio is 17.70%.

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.