Amalgamated Bank Decreases Stock Holdings in Deere & Company (NYSE:DE)

Amalgamated Bank lowered its position in shares of Deere & Company (NYSE:DE) by 3.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,593 shares of the industrial products company’s stock after selling 1,555 shares during the period. Amalgamated Bank’s holdings in Deere & Company were worth $21,114,000 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 made changes to their positions in the company. Oppenheimer Asset Management Inc. lifted its position in shares of Deere & Company by 20.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 15,808 shares of the industrial products company’s stock worth $5,906,000 after purchasing an additional 2,692 shares during the last quarter. Royal Fund Management LLC lifted its stake in shares of Deere & Company by 99.8% during the third quarter. Royal Fund Management LLC now owns 6,454 shares of the industrial products company’s stock valued at $2,694,000 after buying an additional 3,223 shares during the period. New Century Financial Group LLC purchased a new position in shares of Deere & Company during the third quarter valued at approximately $1,052,000. Manning & Napier Advisors LLC purchased a new position in shares of Deere & Company during the second quarter valued at approximately $24,984,000. Finally, Handelsbanken Fonder AB raised its stake in Deere & Company by 2.2% during the third quarter. Handelsbanken Fonder AB now owns 90,871 shares of the industrial products company’s stock worth $37,923,000 after purchasing an additional 1,963 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Price Performance

NYSE:DE opened at $401.68 on Tuesday. The firm has a market capitalization of $109.90 billion, a price-to-earnings ratio of 13.70, a PEG ratio of 1.52 and a beta of 0.93. Deere & Company has a 1 year low of $340.20 and a 1 year high of $420.47. The business has a 50 day simple moving average of $401.23 and a 200-day simple moving average of $385.41. 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 (EPS) for the quarter, beating analysts’ consensus estimates of $5.63 by $0.66. The business had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $10.94 billion. Deere & Company had a return on equity of 36.71% and a net margin of 14.69%. The business’s revenue was down 20.3% compared to the same quarter last year. During the same period last year, the business posted $10.20 EPS. Equities analysts forecast that Deere & Company will post 25 EPS for the current year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, September 30th will be paid a dividend of $1.47 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $5.88 annualized dividend and a yield of 1.46%. Deere & Company’s dividend payout ratio (DPR) is currently 20.06%.

Wall Street Analysts Forecast Growth

DE has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Deere & Company from $402.00 to $389.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. JPMorgan Chase & Co. lifted their price target on shares of Deere & Company from $360.00 to $420.00 and gave the company a “neutral” rating in a report on Friday, October 11th. Bank of America boosted their target price on shares of Deere & Company from $400.00 to $410.00 and gave the company a “neutral” rating in a research note on Friday, August 16th. Citigroup boosted their target price on shares of Deere & Company from $395.00 to $420.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Finally, Morgan Stanley lowered their price objective on shares of Deere & Company from $450.00 to $425.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $420.69.

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.