Allspring Global Investments Holdings LLC Has $5.47 Million Stake in Deere & Company (NYSE:DE)

Allspring Global Investments Holdings LLC lowered its holdings in Deere & Company (NYSE:DE) by 7.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,106 shares of the industrial products company’s stock after selling 1,107 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Deere & Company were worth $5,470,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of DE. Fairscale Capital LLC bought a new stake in Deere & Company during the 2nd quarter worth approximately $26,000. Pineridge Advisors LLC boosted its position in shares of Deere & Company by 725.0% during the first quarter. Pineridge Advisors LLC now owns 66 shares of the industrial products company’s stock valued at $27,000 after buying an additional 58 shares during the last quarter. Olistico Wealth LLC bought a new stake in Deere & Company during the second quarter worth $37,000. Centennial Bank AR raised its position in Deere & Company by 420.0% in the 2nd quarter. Centennial Bank AR now owns 104 shares of the industrial products company’s stock valued at $39,000 after buying an additional 84 shares during the last quarter. Finally, Briaud Financial Planning Inc lifted its stake in Deere & Company by 73.5% during the 2nd quarter. Briaud Financial Planning Inc now owns 118 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 50 shares in the last quarter. Institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Oppenheimer lowered their target price on shares of Deere & Company from $465.00 to $448.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. HSBC cut shares of Deere & Company from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Evercore ISI upped their target price on Deere & Company from $371.00 to $378.00 and gave the company an “in-line” rating in a report on Monday, August 19th. Hsbc Global Res lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, August 19th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research note on Thursday, August 8th. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $420.69.

Deere & Company Price Performance

NYSE DE opened at $407.93 on Monday. The company has a quick ratio of 1.87, a current ratio of 2.07 and a debt-to-equity ratio of 1.85. The company has a market cap of $112.41 billion, a PE ratio of 12.28, a price-to-earnings-growth 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 firm’s 50-day simple moving average is $397.89 and its two-hundred day simple moving average is $385.17.

Deere & Company (NYSE:DE) last announced its quarterly earnings results 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. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. The company had revenue of $11.39 billion for the quarter, compared to analysts’ expectations of $10.94 billion. During the same period in the prior year, the company posted $10.20 EPS. Deere & Company’s revenue was down 20.3% compared to the same quarter last year. Research analysts predict that Deere & Company will post 25.03 earnings per share for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Monday, September 30th will be issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date is Monday, September 30th. Deere & Company’s dividend payout ratio (DPR) is presently 17.70%.

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.