abrdn plc Sells 26,802 Shares of Deere & Company (NYSE:DE)

abrdn plc reduced its holdings in shares of Deere & Company (NYSE:DE) by 10.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 238,433 shares of the industrial products company’s stock after selling 26,802 shares during the period. abrdn plc’s holdings in Deere & Company were worth $98,964,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in DE. Pathway Financial Advisers LLC boosted its holdings in Deere & Company by 53,338.6% during the 3rd quarter. Pathway Financial Advisers LLC now owns 854,484 shares of the industrial products company’s stock valued at $356,602,000 after acquiring an additional 852,885 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Deere & Company by 46,892.9% during the third quarter. International Assets Investment Management LLC now owns 772,094 shares of the industrial products company’s stock valued at $322,218,000 after purchasing an additional 770,451 shares during the period. Swedbank AB purchased a new stake in shares of Deere & Company during the first quarter valued at approximately $191,628,000. Mawer Investment Management Ltd. bought a new position in shares of Deere & Company in the second quarter worth approximately $166,937,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of Deere & Company by 15.0% in 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 buying an additional 279,627 shares during the period. 68.58% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Oppenheimer decreased their price objective on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Bank of America boosted their price target on Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a report on Friday, August 16th. BMO Capital Markets initiated coverage on Deere & Company in a research report on Friday, August 9th. They issued a “market perform” rating and a $400.00 price objective on the stock. Hsbc Global Res downgraded Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Finally, JPMorgan Chase & Co. raised their price target on Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a research note on Friday, October 11th. Twelve research 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 presently has an average rating of “Hold” and an average price target of $420.69.

Deere & Company Stock Down 1.5 %

DE stock opened at $406.04 on Wednesday. The business has a 50 day moving average of $399.35 and a 200 day moving average of $385.23. The firm has a market cap of $111.89 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92. Deere & Company has a twelve month low of $340.20 and a twelve month high of $420.47. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85.

Deere & Company (NYSE:DE) last posted its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.63 by $0.66. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The firm had revenue of $11.39 billion during the quarter, compared to analyst estimates of $10.94 billion. During the same quarter in the previous year, the firm earned $10.20 EPS. Deere & Company’s quarterly revenue was down 20.3% compared to the same quarter last year. On average, research analysts forecast that Deere & Company will post 25.03 EPS for the current fiscal year.

Deere & Company Announces Dividend

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 1.45%. The ex-dividend date is Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is currently 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.