DB Fitzpatrick & Co Inc Sells 1,371 Shares of Deere & Company (NYSE:DE)

DB Fitzpatrick & Co Inc lessened its holdings in shares of Deere & Company (NYSE:DE) by 27.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,652 shares of the industrial products company’s stock after selling 1,371 shares during the period. Deere & Company makes up approximately 1.6% of DB Fitzpatrick & Co Inc’s portfolio, making the stock its 8th biggest holding. DB Fitzpatrick & Co Inc’s holdings in Deere & Company were worth $1,714,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Orion Capital Management LLC purchased a new stake in shares of Deere & Company in the fourth quarter valued at $34,000. Mascagni Wealth Management Inc. purchased a new position in shares of Deere & Company in the 4th quarter worth about $39,000. Dogwood Wealth Management LLC acquired a new stake in shares of Deere & Company in the fourth quarter valued at about $42,000. Wood Tarver Financial Group LLC acquired a new stake in shares of Deere & Company in the fourth quarter valued at about $43,000. Finally, Marquette Asset Management LLC acquired a new stake in shares of Deere & Company in the first quarter valued at about $49,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Stock Up 0.4%

Shares of DE stock opened at $525.02 on Thursday. Deere & Company has a 1 year low of $340.20 and a 1 year high of $533.78. The stock has a market cap of $142.19 billion, a PE ratio of 25.40, a price-to-earnings-growth ratio of 3.32 and a beta of 1.09. The business’s fifty day moving average is $492.30 and its 200-day moving average is $469.71. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.89 and a current ratio of 2.11.

Deere & Company (NYSE:DE) last issued its earnings results on Thursday, May 15th. The industrial products company reported $6.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.72 by $0.92. The business had revenue of $11.17 billion for the quarter, compared to analysts’ expectations of $10.80 billion. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The company’s quarterly revenue was down 17.9% on a year-over-year basis. During the same period in the previous year, the firm posted $8.53 EPS. Equities analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Monday, June 30th will be issued a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date is Monday, June 30th. Deere & Company’s payout ratio is 31.35%.

Wall Street Analysts Forecast Growth

DE has been the topic of a number of research analyst reports. Barclays increased their target price on Deere & Company from $475.00 to $530.00 and gave the stock an “overweight” rating in a report on Friday, May 16th. Argus set a $510.00 price target on Deere & Company in a report on Friday, March 7th. Melius raised Deere & Company from a “hold” rating to a “buy” rating in a report on Friday, June 6th. Bank of America raised their price target on Deere & Company from $495.00 to $556.00 and gave the stock a “neutral” rating in a report on Friday, May 16th. Finally, Wall Street Zen downgraded Deere & Company from a “hold” rating to a “sell” rating in a report on Friday, May 30th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Deere & Company has an average rating of “Hold” and an average target price of $515.19.

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.