KG&L Capital Management LLC Sells 116 Shares of Deere & Company (NYSE:DE)

by · The Cerbat Gem

KG&L Capital Management LLC reduced its stake in shares of Deere & Company (NYSE:DE – Free Report) by 1.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,393 shares of the industrial products company’s stock after selling 116 shares during the quarter. Deere & Company comprises about 1.0% of KG&L Capital Management LLC’s portfolio, making the stock its 25th biggest position. KG&L Capital Management LLC’s holdings in Deere & Company were worth $3,086,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DE. Pathway Financial Advisers LLC boosted its stake in Deere & Company by 53,338.6% in the third 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 last quarter. International Assets Investment Management LLC boosted its position 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 worth $322,218,000 after purchasing an additional 770,451 shares in the last quarter. Swedbank AB bought a new position in shares of Deere & Company during the first quarter worth $191,628,000. Mawer Investment Management Ltd. bought a new position in shares of Deere & Company during the second quarter worth $166,937,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Deere & Company by 15.0% during 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 purchasing an additional 279,627 shares in the last quarter. 68.58% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on DE. Bank of America lifted their price target on shares of Deere & Company from $400.00 to $410.00 and gave the stock a “neutral” rating in a research report on Friday, August 16th. Hsbc Global Res cut shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 19th. Citigroup lifted their price target on shares of Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. BMO Capital Markets started coverage on shares of Deere & Company in a report on Friday, August 9th. They set a “market perform” rating and a $400.00 price objective on the stock. Finally, Truist Financial raised their price objective 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. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Deere & Company has an average rating of “Hold” and a consensus target price of $420.69.

Get Our Latest Stock Report on DE

Deere & Company Stock Down 1.1 %

Deere & Company stock opened at $400.42 on Monday. The firm has a market capitalization of $109.55 billion, a PE ratio of 13.66, a P/E/G ratio of 1.35 and a beta of 0.93. The company’s 50-day moving average is $400.85 and its 200-day moving average is $385.41. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $420.47. 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 – Get Free Report) last announced its earnings results on Thursday, August 15th. The industrial products company reported $6.29 EPS for the quarter, topping the consensus estimate of $5.63 by $0.66. The business had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a net margin of 14.69% and a return on equity of 36.71%. Deere & Company’s revenue was down 20.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $10.20 EPS. Sell-side analysts anticipate that Deere & Company will post 25 earnings per share for the current year.

Deere & Company Announces Dividend

The business 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 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend is Monday, September 30th. Deere & Company’s payout ratio is 20.06%.

About Deere & Company

(Free Report)

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.

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