Principal Street Partners LLC Has $480,000 Position in Deere & Company (NYSE:DE)

Principal Street Partners LLC lessened its holdings in shares of Deere & Company (NYSE:DE) by 45.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,134 shares of the industrial products company’s stock after selling 946 shares during the period. Principal Street Partners LLC’s holdings in Deere & Company were worth $480,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Pineridge Advisors LLC boosted its position in shares of Deere & Company by 60.5% in the fourth quarter. Pineridge Advisors LLC now owns 69 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 26 shares during the period. YANKCOM Partnership acquired a new position in Deere & Company during the 4th quarter valued at $34,000. Synergy Asset Management LLC acquired a new position in Deere & Company during the 4th quarter valued at $35,000. Sierra Ocean LLC bought a new stake in Deere & Company in the 4th quarter valued at $44,000. Finally, Halbert Hargrove Global Advisors LLC acquired a new stake in Deere & Company in the 4th quarter worth $48,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Performance

Deere & Company stock opened at $529.58 on Tuesday. The firm has a market capitalization of $143.74 billion, a P/E ratio of 23.47, a P/E/G ratio of 2.14 and a beta of 1.08. The stock has a fifty day moving average price of $469.45 and a two-hundred day moving average price of $455.92. Deere & Company has a 52-week low of $340.20 and a 52-week high of $533.78. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98.

Deere & Company (NYSE:DE) last posted its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share for the quarter, topping the consensus estimate of $5.72 by $0.92. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The business had revenue of $11.17 billion for the quarter, compared to analyst estimates of $10.80 billion. During the same quarter in the prior year, the firm earned $8.53 EPS. The firm’s quarterly revenue was down 17.9% compared to the same quarter last year. As a group, analysts anticipate that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 8th. Stockholders of record on Monday, March 31st were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.22%. The ex-dividend date was Monday, March 31st. Deere & Company’s payout ratio is 28.72%.

Wall Street Analyst Weigh In

DE has been the subject of a number of research analyst reports. Citigroup upped their price objective on shares of Deere & Company from $450.00 to $550.00 and gave the company a “neutral” rating in a research report on Monday. DA Davidson restated a “buy” rating and set a $542.00 price target on shares of Deere & Company in a research note on Friday. Oppenheimer upped their price target on Deere & Company from $513.00 to $555.00 and gave the company an “outperform” rating in a report on Friday. Raymond James lifted their price objective on Deere & Company from $530.00 to $560.00 and gave the stock an “outperform” rating in a report on Friday. Finally, JPMorgan Chase & Co. boosted their price objective on Deere & Company from $490.00 to $540.00 and gave the company a “neutral” rating in a research report on Friday. Thirteen analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $513.00.

Deere & Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.