L.M. Kohn & Company Sells 157 Shares of Deere & Company (NYSE:DE)

L.M. Kohn & Company lessened its position in Deere & Company (NYSE:DE) by 7.0% during the 1st quarter, HoldingsChannel.com reports. The fund owned 2,084 shares of the industrial products company’s stock after selling 157 shares during the period. L.M. Kohn & Company’s holdings in Deere & Company were worth $978,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in DE. Orion Capital Management LLC acquired a new stake in shares of Deere & Company in the fourth quarter worth $34,000. Mascagni Wealth Management Inc. acquired a new stake in Deere & Company in the 4th quarter worth $39,000. Dogwood Wealth Management LLC acquired a new position in shares of Deere & Company during the fourth quarter valued at about $42,000. Wood Tarver Financial Group LLC bought a new stake in shares of Deere & Company in the fourth quarter valued at about $43,000. Finally, Halbert Hargrove Global Advisors LLC bought a new position in Deere & Company during the fourth quarter valued at about $48,000. Institutional investors and hedge funds own 68.58% of the company’s stock.

Deere & Company Trading Up 0.4%

NYSE:DE opened at $525.02 on Friday. The company has a debt-to-equity ratio of 1.76, a current ratio of 2.11 and a quick ratio of 1.89. The business’s 50-day simple moving average is $493.91 and its 200-day simple moving average is $470.14. Deere & Company has a fifty-two week low of $340.20 and a fifty-two week high of $533.78. The stock has a market capitalization of $142.19 billion, a PE ratio of 25.40, a price-to-earnings-growth ratio of 3.33 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 24.39% and a net margin of 12.40%. The firm had revenue of $11.17 billion for the quarter, compared to the consensus estimate of $10.80 billion. During the same quarter last year, the business posted $8.53 EPS. The company’s revenue for the quarter was down 17.9% on a year-over-year basis. Sell-side analysts expect that Deere & Company will post 19.32 earnings per share for the current fiscal year.

Deere & Company Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Wall Street Zen cut Deere & Company from a “hold” rating to a “sell” rating in a research report on Friday, May 30th. The Goldman Sachs Group restated a “buy” rating on shares of Deere & Company in a research note on Thursday, May 15th. Melius upgraded shares of Deere & Company from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. BMO Capital Markets reissued a “market perform” rating and issued a $460.00 price target (up previously from $425.00) on shares of Deere & Company in a research report on Wednesday, May 21st. Finally, Morgan Stanley raised their price target on shares of Deere & Company from $450.00 to $500.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Deere & Company has an average rating of “Hold” and a consensus price target 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.