Foresight Group Ltd Liability Partnership Sells 437 Shares of Deere & Company (NYSE:DE)

Foresight Group Ltd Liability Partnership decreased its stake in shares of Deere & Company (NYSE:DE) by 18.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,981 shares of the industrial products company’s stock after selling 437 shares during the quarter. Deere & Company comprises 0.3% of Foresight Group Ltd Liability Partnership’s holdings, making the stock its 26th biggest position. Foresight Group Ltd Liability Partnership’s holdings in Deere & Company were worth $827,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of DE. Swedbank AB acquired a new position in Deere & Company during the 1st quarter valued at approximately $191,628,000. Mawer Investment Management Ltd. acquired a new position in Deere & Company during the 2nd quarter valued at approximately $166,937,000. 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 acquiring an additional 279,627 shares during the period. Vanguard Group Inc. increased its stake in shares of Deere & Company by 1.2% in 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 acquiring an additional 263,709 shares during the period. Finally, Strategic Financial Concepts LLC increased its stake in shares of Deere & Company by 28,306.5% in the second quarter. Strategic Financial Concepts LLC now owns 249,977 shares of the industrial products company’s stock worth $934,000 after acquiring an additional 249,097 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Price Performance

Shares of DE opened at $406.65 on Wednesday. Deere & Company has a 1-year low of $340.20 and a 1-year high of $420.47. The stock has a market cap of $112.06 billion, a PE ratio of 12.24, a P/E/G ratio of 1.35 and a beta of 0.92. The firm has a 50-day simple moving average of $395.40 and a two-hundred day simple moving average of $385.21. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.07 and a quick ratio of 1.87.

Deere & Company (NYSE:DE) last announced its quarterly earnings results on Thursday, August 15th. The industrial products company reported $6.29 earnings per share for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The business had revenue of $11.39 billion during the quarter, compared to analysts’ expectations of $10.94 billion. During the same period last year, the business earned $10.20 earnings per share. The business’s revenue for the quarter was down 20.3% on a year-over-year basis. As a group, analysts forecast that Deere & Company will post 25.03 EPS for the current year.

Deere & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Monday, September 30th will be paid a $1.47 dividend. 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 payout ratio is 17.70%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. HSBC lowered shares of Deere & Company from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. BMO Capital Markets began coverage on shares of Deere & Company in a research note on Friday, August 9th. They issued a “market perform” rating and a $400.00 price objective on the stock. Raymond James began coverage on shares of Deere & Company in a report on Friday, June 28th. They set an “outperform” rating and a $420.00 price target on the stock. Truist Financial increased their price target on shares of Deere & Company from $443.00 to $496.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. increased their price target on shares of Deere & Company from $360.00 to $420.00 and gave the stock a “neutral” rating in a report on Friday, October 11th. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $420.69.

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.