Pallas Capital Advisors LLC Sells 340 Shares of Deere & Company (NYSE:DE)

Pallas Capital Advisors LLC trimmed its holdings in Deere & Company (NYSE:DE) by 15.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,839 shares of the industrial products company’s stock after selling 340 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Deere & Company were worth $863,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of DE. Price T Rowe Associates Inc. MD increased its stake in shares of Deere & Company by 19.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,589,760 shares of the industrial products company’s stock valued at $2,792,082,000 after purchasing an additional 1,095,736 shares in the last quarter. Capital World Investors increased its holdings in shares of Deere & Company by 2.7% during the fourth quarter. Capital World Investors now owns 6,058,259 shares of the industrial products company’s stock valued at $2,566,884,000 after acquiring an additional 157,224 shares in the last quarter. FMR LLC increased its holdings in shares of Deere & Company by 22.9% during the fourth quarter. FMR LLC now owns 5,581,408 shares of the industrial products company’s stock valued at $2,364,843,000 after acquiring an additional 1,039,395 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Deere & Company by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 5,305,571 shares of the industrial products company’s stock valued at $2,247,216,000 after acquiring an additional 97,203 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Deere & Company during the fourth quarter valued at $1,244,094,000. 68.58% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on DE shares. Bank of America raised their price objective on shares of Deere & Company from $495.00 to $556.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. Baird R W downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 3rd. DA Davidson reissued a “buy” rating and set a $542.00 price target on shares of Deere & Company in a research report on Friday, May 16th. BMO Capital Markets reissued a “market perform” rating and issued a $460.00 target price (up previously from $425.00) on shares of Deere & Company in a report on Wednesday, May 21st. Finally, Wall Street Zen lowered Deere & Company from a “hold” rating to a “sell” rating in a report on Friday, May 30th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Deere & Company currently has a consensus rating of “Hold” and a consensus price target of $515.19.

Deere & Company Stock Performance

Shares of NYSE DE opened at $515.42 on Wednesday. Deere & Company has a 12-month low of $340.20 and a 12-month high of $533.78. The firm has a 50 day moving average of $481.59 and a 200 day moving average of $467.44. The company has a current ratio of 2.22, a quick ratio of 1.98 and a debt-to-equity ratio of 1.94. The firm has a market capitalization of $139.59 billion, a price-to-earnings ratio of 22.85, a price-to-earnings-growth ratio of 2.14 and a beta of 1.09.

Deere & Company (NYSE:DE) last released its quarterly earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (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 during the quarter, compared to analyst estimates of $10.80 billion. During the same quarter in the previous year, the company posted $8.53 earnings per share. Deere & Company’s revenue for the quarter was down 17.9% on a year-over-year basis. On average, research analysts anticipate that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be paid a dividend of $1.62 per share. The ex-dividend date is Monday, June 30th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.26%. Deere & Company’s dividend payout ratio (DPR) is presently 31.35%.

About Deere & Company

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.