Neo Ivy Capital Management Sells 3,183 Shares of Deere & Company (NYSE:DE)

Neo Ivy Capital Management reduced its stake in shares of Deere & Company (NYSE:DE) by 78.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 849 shares of the industrial products company’s stock after selling 3,183 shares during the quarter. Neo Ivy Capital Management’s holdings in Deere & Company were worth $359,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of DE. Raleigh Capital Management Inc. lifted its stake in Deere & Company by 182.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 209 shares of the industrial products company’s stock worth $89,000 after purchasing an additional 135 shares during the last quarter. Avior Wealth Management LLC raised its holdings in shares of Deere & Company by 2.0% during the 4th quarter. Avior Wealth Management LLC now owns 4,770 shares of the industrial products company’s stock worth $2,021,000 after buying an additional 93 shares in the last quarter. Secure Asset Management LLC bought a new stake in shares of Deere & Company during the 4th quarter worth $358,000. Montecito Bank & Trust boosted its stake in Deere & Company by 16.4% in the fourth quarter. Montecito Bank & Trust now owns 2,925 shares of the industrial products company’s stock valued at $1,239,000 after buying an additional 412 shares in the last quarter. Finally, Brighton Jones LLC grew its position in Deere & Company by 39.1% in the fourth quarter. Brighton Jones LLC now owns 4,548 shares of the industrial products company’s stock valued at $1,927,000 after acquiring an additional 1,278 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Evercore ISI increased their target price on shares of Deere & Company from $455.00 to $493.00 and gave the stock an “in-line” rating in a report on Monday, May 19th. The Goldman Sachs Group reiterated a “buy” rating on shares of Deere & Company in a research report on Thursday, May 15th. Raymond James raised their target price on shares of Deere & Company from $530.00 to $560.00 and gave the company an “outperform” rating in a research report on Friday, May 16th. Robert W. Baird upped their price target on shares of Deere & Company from $501.00 to $514.00 and gave the stock a “neutral” rating in a report on Friday, May 16th. Finally, Citigroup raised their price objective on Deere & Company from $450.00 to $550.00 and gave the company a “neutral” rating in a report on Monday, May 19th. 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.com, the company has an average rating of “Hold” and a consensus target price of $516.75.

Deere & Company Trading Down 1.1%

NYSE DE opened at $509.83 on Friday. The firm has a market capitalization of $138.37 billion, a PE ratio of 22.60, a price-to-earnings-growth ratio of 2.14 and a beta of 1.08. The business’s 50-day moving average price is $472.60 and its two-hundred day moving average price is $458.36. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. Deere & Company has a 12 month low of $340.20 and a 12 month high of $533.78.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, beating the consensus estimate of $5.72 by $0.92. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. The business had revenue of $11.17 billion for the quarter, compared to analysts’ expectations of $10.80 billion. During the same period in the prior year, the business posted $8.53 earnings per share. The firm’s revenue was down 17.9% on a year-over-year basis. On average, analysts expect that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 8th. Stockholders of record on Monday, March 31st were given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend was Monday, March 31st. Deere & Company’s dividend payout ratio (DPR) is presently 31.35%.

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.