Powers Advisory Group LLC Has $1.02 Million Stock Holdings in Deere & Company (NYSE:DE)

Powers Advisory Group LLC cut its position in Deere & Company (NYSE:DE) by 3.1% during the 1st quarter, HoldingsChannel reports. The firm owned 2,168 shares of the industrial products company’s stock after selling 70 shares during the quarter. Powers Advisory Group LLC’s holdings in Deere & Company were worth $1,017,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Everhart Financial Group Inc. raised its holdings in shares of Deere & Company by 8.0% during the first quarter. Everhart Financial Group Inc. now owns 2,060 shares of the industrial products company’s stock worth $967,000 after acquiring an additional 153 shares during the period. Jacksonville Wealth Management LLC raised its holdings in shares of Deere & Company by 0.7% during the first quarter. Jacksonville Wealth Management LLC now owns 5,989 shares of the industrial products company’s stock worth $2,811,000 after acquiring an additional 39 shares during the period. Smithbridge Asset Management Inc. DE acquired a new stake in shares of Deere & Company during the first quarter worth $201,000. Donald L. Hagan LLC raised its holdings in shares of Deere & Company by 2.8% during the first quarter. Donald L. Hagan LLC now owns 2,973 shares of the industrial products company’s stock worth $1,395,000 after acquiring an additional 81 shares during the period. Finally, Relyea Zuckerberg Hanson LLC raised its holdings in shares of Deere & Company by 2.7% during the first quarter. Relyea Zuckerberg Hanson LLC now owns 982 shares of the industrial products company’s stock worth $461,000 after acquiring an additional 26 shares during the period. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on DE. Wall Street Zen lowered shares of Deere & Company from a “hold” rating to a “sell” rating in a report on Friday, May 30th. The Goldman Sachs Group restated a “buy” rating on shares of Deere & Company in a report on Thursday, May 15th. UBS Group dropped their price objective on shares of Deere & Company from $462.00 to $440.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. Baird R W lowered shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. Finally, Citigroup lowered their price target on shares of Deere & Company from $550.00 to $525.00 and set a “neutral” rating on the stock in a research note on Friday, May 30th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Deere & Company presently has a consensus rating of “Hold” and a consensus target price of $515.19.

Deere & Company Price Performance

Shares of NYSE:DE opened at $509.04 on Friday. The firm has a 50 day moving average of $487.24 and a 200-day moving average of $468.51. The stock has a market capitalization of $137.86 billion, a PE ratio of 22.56, a PEG ratio of 2.14 and a beta of 1.09. 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 issued 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. The company had revenue of $11.17 billion during the quarter, compared to analysts’ expectations of $10.80 billion. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. The business’s revenue for the quarter was down 17.9% compared to the same quarter last year. During the same period in the previous year, the company earned $8.53 EPS. On average, equities research analysts predict that Deere & Company will post 19.32 EPS for the current fiscal year.

Deere & Company Announces Dividend

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 given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend is Monday, June 30th. Deere & Company’s dividend payout ratio is 31.35%.

Deere & Company 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.