Epoch Investment Partners Inc. Sells 28,035 Shares of Deere & Company (NYSE:DE)

Epoch Investment Partners Inc. lowered its position in shares of Deere & Company (NYSE:DE) by 28.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 71,437 shares of the industrial products company’s stock after selling 28,035 shares during the period. Epoch Investment Partners Inc.’s holdings in Deere & Company were worth $29,342,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in DE. True Wealth Design LLC boosted its holdings in Deere & Company by 1,180.0% in the fourth quarter. True Wealth Design LLC now owns 64 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 59 shares in the last quarter. Rakuten Securities Inc. purchased a new stake in shares of Deere & Company during the fourth quarter worth approximately $28,000. Naples Money Management LLC purchased a new stake in shares of Deere & Company during the fourth quarter worth approximately $29,000. Private Wealth Management Group LLC purchased a new stake in Deere & Company in the 4th quarter valued at $29,000. Finally, Bfsg LLC purchased a new stake in Deere & Company in the 4th quarter valued at $30,000. Hedge funds and other institutional investors own 68.58% of the company’s stock.

Deere & Company Stock Up 1.3 %

DE traded up $4.86 during trading on Friday, reaching $386.55. The company had a trading volume of 1,380,906 shares, compared to its average volume of 1,582,798. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.01 and a quick ratio of 1.80. Deere & Company has a 12 month low of $345.93 and a 12 month high of $441.46. The company has a market cap of $106.52 billion, a P/E ratio of 11.64, a PEG ratio of 1.57 and a beta of 0.93. The business’s fifty day moving average price is $372.59 and its 200 day moving average price is $383.70.

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

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Friday, June 28th will be given a dividend of $1.47 per share. The ex-dividend date is Friday, June 28th. This represents a $5.88 annualized dividend and a yield of 1.52%. Deere & Company’s dividend payout ratio is 17.70%.

Insider Buying and Selling

In other news, insider Cory J. Reed sold 13,370 shares of the company’s stock in a transaction that occurred on 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 completion of 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.26% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Daiwa Capital Markets raised their target price on Deere & Company from $400.00 to $420.00 and gave the company an “overweight” rating in a report on Wednesday, May 15th. Stifel Nicolaus raised their price objective on Deere & Company from $425.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, May 17th. JPMorgan Chase & Co. reduced their price objective on shares of Deere & Company from $385.00 to $375.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. Morgan Stanley lifted their price target on shares of Deere & Company from $430.00 to $450.00 in a research report on Wednesday, May 15th. Finally, Truist Financial dropped their price objective on shares of Deere & Company from $460.00 to $439.00 and set a “buy” rating for the company in a research note on Tuesday, July 2nd. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $426.71.

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.